Indosat Retains CEO Vikram Sinha, Targets Doubling EBITDA

Indosat Ooredoo Hutchison has announced the extension of Vikram Sinha’s tenure as CEO for a further five years. The decision will be formalised at the company’s next Annual General Meeting of Shareholders. According to a press release, the Board of Commissioners’ decision to retain Sinha was based on the company’s progress since the 2022 merger. One of the key tasks assigned to Sinha is to double the company’s EBITDA and continue its AI-based transformation. ‘The Board of Commissioners’ approval to extend his tenure as President Director and Chief Executive Officer for the next five years reflects our confidence in his leadership and the management team in continuing to create long-term value for Indonesia,’ said Indosat’s President Commissioner, Nezar Patria. Beyond its core internet connectivity business, Indosat is expanding its transformation into an AI TechCo by building new growth engines in sovereign AI, cloud, cybersecurity, and enterprise digitalisation. In 2025, ISAT recorded a 12.2% year-on-year increase in profit attributable to owners of the parent entity. Based on the financial report as of 31 December 2025, ISAT’s profit was recorded at Rp5.51 trillion, up from Rp4.92 trillion in 2024. On the top line, ISAT posted revenue of Rp58.52 trillion throughout 2025, a 1.18% year-on-year increase compared to the 2024 realisation of Rp55.86 trillion. The company also recently announced the divestment of its majority stake in PT Infra Fiber Teknologi (IFT) to PT Nusantara Fiber Teknologi (NFT) for Rp11.71 trillion. The share sale transaction became legally effective on 30 June 2026. Indosat and its subsidiary PT Aplikanusa Lintasarta cumulatively sold 11,707,828 shares, representing 84.9% of IFT’s total issued and paid-up capital, to NFT. In addition to the share sale, Indosat and Lintasarta also conducted an inbreng transaction for 2,083,223 shares, or 15.1% ownership in IFT. In return, Indosat received 1,991,439 shares of NFT, equivalent to 49.1% of NFT’s issued and paid-up capital, while Lintasarta received 32,132 shares, or 0.8%. Indosat also disclosed that the transaction was followed by the signing of a Shareholders’ Agreement between Indosat, Lintasarta, NFT, and PT Ainfrastruktur Indonesia Raya. The agreement was signed on 6 May 2026 and became effective after the completion of the share sale transaction.