Indosat to Expand Business Lines into AI, IoT, Defence and Payment Systems
TEMPO.CO, Jakarta - PT Indosat Tbk (ISAT) has announced plans to add new business lines still related to its telecommunications operations.
ISAT plans to expand into activities covering defence and security requirements, telecommunications resale services, artificial intelligence (AI)-based programming, internet of things (IoT) consultancy and design, payment system support services, advertising services, and market research.
ISAT Corporate Secretary Reski Damayanti said the company still requires a permit from the Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM) to run the new businesses. Management will also seek shareholder approval at the Annual General Meeting of Shareholders (AGMS) on 28 May 2025.
"We will process the licensing through the OSS system immediately after obtaining AGMS approval," Reski said in a written statement on the Indonesia Stock Exchange, quoted on Monday, 12 May 2025.
Through the addition of these business lines, Reski expressed hope that ISAT could broaden its business segments and increase the company's revenue. She said the move was also part of ISAT's contribution to the advancement of Indonesia's telecommunications industry.
"As well as becoming a company capable of competing fairly in providing services to its customers," she said.
Throughout 2024, ISAT recorded revenue of Rp 55,886.9 billion, an increase of 9.1 per cent year-on-year from 2023. Meanwhile, EBITDA grew faster than revenue, rising 10.2 per cent to Rp 26,375.1 billion. From this, Indosat posted a net profit of Rp 4,910.8 billion.
"We have demonstrated strong performance in the 2024 financial year, maintaining our double-digit growth trajectory," Indosat management said in a disclosure on the Indonesia Stock Exchange (IDX) website on Monday, 10 February 2025.
Indosat also recorded a decline in its subscriber base of 4.1 million throughout 2024 to 94.7 million. Meanwhile, the Average Revenue per User (ARPU) for Indosat's mobile subscribers rose to Rp 38,000 in 2024, an increase of 6.6 per cent or Rp 2,400 higher than in 2023, according to management.
ISAT plans to expand into activities covering defence and security requirements, telecommunications resale services, artificial intelligence (AI)-based programming, internet of things (IoT) consultancy and design, payment system support services, advertising services, and market research.
ISAT Corporate Secretary Reski Damayanti said the company still requires a permit from the Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM) to run the new businesses. Management will also seek shareholder approval at the Annual General Meeting of Shareholders (AGMS) on 28 May 2025.
"We will process the licensing through the OSS system immediately after obtaining AGMS approval," Reski said in a written statement on the Indonesia Stock Exchange, quoted on Monday, 12 May 2025.
Through the addition of these business lines, Reski expressed hope that ISAT could broaden its business segments and increase the company's revenue. She said the move was also part of ISAT's contribution to the advancement of Indonesia's telecommunications industry.
"As well as becoming a company capable of competing fairly in providing services to its customers," she said.
Throughout 2024, ISAT recorded revenue of Rp 55,886.9 billion, an increase of 9.1 per cent year-on-year from 2023. Meanwhile, EBITDA grew faster than revenue, rising 10.2 per cent to Rp 26,375.1 billion. From this, Indosat posted a net profit of Rp 4,910.8 billion.
"We have demonstrated strong performance in the 2024 financial year, maintaining our double-digit growth trajectory," Indosat management said in a disclosure on the Indonesia Stock Exchange (IDX) website on Monday, 10 February 2025.
Indosat also recorded a decline in its subscriber base of 4.1 million throughout 2024 to 94.7 million. Meanwhile, the Average Revenue per User (ARPU) for Indosat's mobile subscribers rose to Rp 38,000 in 2024, an increase of 6.6 per cent or Rp 2,400 higher than in 2023, according to management.