Indosat, the most successful merger empowering Indonesia

KUALA LUMPUR, March 1 (Bernama) -- Indosat Ooredoo Hutchison (Indosat), the new world-class digital telecoms and internet company resulting from the merger of IndosatOoredoo and Hutchison 3 Indonesia is the most successful merger that empowers Indonesia.

During a roundtable discussion, its President Director and Chief Executive Officer, Vikram Sinha discussed how the merger of Indosat Ooredoo and Hutchison 3 Indonesia had exceeded all expectations for 2022, giving a positive outlook for Indonesia's market and the opportunity to grow in the telecommunications (telco) industry.

According to a statement, Indosat's successful merger has transformed the telco industry and Indonesia's gross domestic product (GDP) growth, with digital adoption enabling the country to reduce the time to realise its long-term goal of achieving high-income status.

"We have defied expectations and become the successful merger in the world. Indosat is not just good for the industry; it's good for Indonesia, and will continue to drive the digital revolution and create value for all our stakeholders," said Sinha.

Indosat has an ongoing 9-quarter integration plan, and the realisation of their synergies is running smoothly and has been completed ahead of the plan. Using Multi-Operator CoreNetworks technology, their network integration is targeted to be completed this quarter.

The company also launched a research report titled Empowering Indonesia 2023, which reviews the pillars of Indonesia's digital economy and the role of technology in accelerating its future growth.

The report shows that Indosat is the primary driver of the telecommunications industry and Indonesia's GDP growth, fuelled by its solid growth in 2022.

Indosat's result for full-year 2022 shows a solid performance both financially and operationally with total revenue increased by 48.9 per cent year-on-year (yoy), and Earnings BeforeInterest, Taxes, Depreciation and Amortisation (EBITDA) was recorded at 19,468.7 billion rupiah. (1,000 rupiah = RM0.294)

Net profit for the year attributable to parent company owners was 4,723.4 billion rupiah, normalised net profit increased by 76.2 per cent yoy while cellular customers rose by 62.5 per cent to 102.2 million for fiscal year ending 2022.

-- BERNAMA