PMUI Targets Hotel Business, Optimistic XL-Smartfren Merger Will Boost Performance

PT Prima Multi Usaha Indonesia Tbk (PMUI), an issuer distributing mobile products for XL Axiata, plans to undertake business diversification. This move comes alongside the company’s ongoing process of divesting shares in PT Graha Prima Mentari Tbk to other parties.

“Currently, the contribution from GPRM is not very significant to the Company. The Company is striving to diversify its business, one of which involves PMUI being in the process of opening a business in the hotel sector,” wrote PMUI management in a public expose report to the Indonesia Stock Exchange (BEX) in Jakarta on Monday (18/05/2026).

Furthermore, the Company continues to strive to increase profits by expanding its operational areas to broaden its sales reach. Meanwhile, the merger of XL Axiata and Smartfren is viewed as an opportunity to create additional revenue streams due to the wider variety of products being marketed.

“We target that sales and net profit can grow by at least 10% by the end of this year. The driving factor for current performance is the impact of the XL and Smartfren merger,” the company wrote in the report.

It is noted that the company’s primary revenue currently still originates from the telecommunications sector. Referring to the Q1/2026 financial report, PMUI’s sales grew by approximately 23% compared to the same period in the previous year. Meanwhile, the Company’s net profit surged by approximately 80% compared to the same period in 2025.