The Story of Indosat, the Most Successful Merger That Empowers Indonesia
President Director and CEO of Indosat Ooredoo Hutchison (Indosat), Vikram Sinha, discussed the story of Indosat, the most successfully merger that empowers Indonesia. Indosat is the new world-class digital telecoms and internet company for Indonesia resulting from the merger of Indosat Ooredoo and Hutchison 3 Indonesia.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230228005739/en/
Vikram Sinha, President Director and CEO of Indosat Ooredoo Hutchison (Photo: Business Wire)
During the roundtable discussion, Sinha highlighted that telco mergers often fail for various reasons, such as difficulty integrating different technologies and systems, regulatory hurdles, and challenges in retaining key personnel and customers. However, Indosat's successful merger has transformed the telecommunications industry and Indonesia's GDP growth.
Indonesia is one of the fastest-growing economies in the world and one of the most prominent digital economies in ASEAN. Digital adoption enables Indonesia to reduce the time to realize its long-term goal of achieving high-income status. Indosat, a digital telco with 100 million subscribers, is transforming rapidly to help drive the digital revolution in the country.
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 telco industry. Indosat has an ongoing 9-quarter integration plan, and the realization of their synergies is running smoothly and has been completed ahead of the plan. Using Multi-Operator Core Networks (MOCN) technology, their network integration is targeted to be completed this quarter.
Indosat 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, fueled by its solid growth in 2022.
Indosat's Full-Year 2022 Result shows a solid performance both financially and operationally. Total revenue increased by 48.9% YoY, EBITDA was recorded at Rp19,468.7 billion, and net profit for the year attributable to parent company owners was Rp4,723.4 billion, normalized net profit increased by 76.2% YoY. The company's cellular customers increased by 62.5% to 102.2 million for FY 2022.
"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. We will continue to drive the digital revolution and create value for all our stakeholders," said Vikram Sinha, President Director and CEO of Indosat Ooredoo Hutchison.
About Indosat Ooredoo Hutchison
Indosat Ooredoo Hutchison (IDX: ISAT)’s vision is to become the most preferred digital telco of Indonesia. Through its world-class digital telecom services and preeminent network, Indosat Ooredoo Hutchison strives to connect and empower every Indonesian. Jointly controlled by Ooredoo Group and CK Hutchison, Indosat Ooredoo Hutchison was formed through the merger of PT Indosat Tbk and PT Hutchison 3 Indonesia in 2022.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230228005739/en/
Steve Saerang, SVP – Head of Corporate Communications
+62 816 100 930
About Business Wire
24 Martin Lane
EC4R 0DR London
+44 20 7626 1982http://www.businesswire.co.uk
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
AriBio Co., Ltd. to Present Biomarker Data for AR1001 from the Mild to Moderate Alzheimer’s Disease Phase 2 Study at the International Conference on Alzheimer's and Parkinson's Diseases and Related Neurological Disorders (AD/PD™ 2023)31.3.2023 18:00:00 CEST | Press release
AriBio Co., Ltd. announced that David Greeley MD, Chief Medical Officer at AriBio, will present biomarker data from the completed phase 2 study in patients with mild to moderate Alzheimer’s disease who were treated with 10mg and 30mg of AR1001. AR1001 is a potent PDE5 inhibitor with preliminary efficacy in cognition, and preclinical effects on neuron apoptosis inhibition, promotion of neurogenesis, increase in neuroplasticity, and stimulation of autophagy to remove toxic proteins. The phase 2 study was a double-blind, randomized, placebo-controlled, multi-center trial to evaluate the safety and preliminary efficacy of AR1001 over 26 and 52 weeks of treatment in patients with mild to moderate Alzheimer’s disease. The trial enrolled 210 patients at 21 research centers in the United States. Plasma collected from patients at baseline, week 26 and week 52 was analyzed by Quantarix using the Simoa HD-X analyzer. Meaningful, statistically significant changes were found over 52 weeks of treatm
KANEKA: “Development of Polymer Synthesis Technology by Microorganisms using CO2 as Direct Raw Material” selected as a NEDO Green Innovation Fund Project”31.3.2023 16:09:00 CEST | Press release
Kaneka Corporation (Headquarters: Minato-ku, Tokyo; President: Minoru Tanaka; hereinafter "Kaneka"), Bacchus Bio innovation Co., Ltd (Headquarters: Kobe-city, Hyogo; President: Mikio Tanji; hereinafter "Bacchus"), JGC Holdings Corporation (Headquarters: Yokohama-city Kanagawa; Chairman and CEO: Masayuki Sato; hereinafter "JGC HD"), and Shimadzu Corporation (Headquarters: Kyoto-city, Kyoto; President: Yasunori Yamamoto; hereinafter "Shimadzu") have announced that the proposal of a joint project, “Development of Polymer Synthesis Technology by microorganisms using CO2 as direct raw material (hereinafter referred to as ‘the Project’)” had been selected by the "Green Innovation Fund Project*1 / Promotion of Carbon Recycling Using CO2 from Biomanufacturing Technology as a Direct Raw Material” as a planned implementation sponsored by the New Energy and Industrial Technology Development Organization (NEDO). This press release features multimedia. View the full release here: https://www.busine
Allianz Appoints Leadership for Allianz Commercial Key Markets31.3.2023 15:11:00 CEST | Press release
As part of the implementation of its ‘Integrated Commercial’ strategy to better serve the full Commercial segment, Allianz Group today announced the leadership for four of its largest Property and Casualty Commercial insurance markets: Australia, France, Germany and the United Kingdom. In each country, the appointed single Commercial lead will represent the integrated Allianz Commercial business and bring to the market Allianz’s full set of solutions for specialty clients, large corporates, and mid-sized companies, simplifying and enhancing the experience of clients and distribution partners. “The appointment of the regional leaders in our core Allianz Commercial markets is an important, concrete step toward realizing our new integrated model, which brings together our Mid Corporate and Large Corporate insurance business for the benefit of our clients and distribution partners,” said Chris Townsend, Member of the Allianz SE Board of Management. Townsend added, “As one face to the marke
Huawei Releases 2022 Annual Report: Steady Operations, Sustainable Survival and Development31.3.2023 11:59:00 CEST | Press release
Huawei released its 2022 Annual Report today. The company reports steady operations throughout 2022, having generated CNY642.3 billion in revenue and CNY35.6 billion in net profits. Huawei continues to strengthen investment in R&D, with an annual expenditure of CNY161.5 billion in 2022, representing 25.1% of the company's annual revenue and bringing its total R&D expenditure over the past 10 years to more than CNY977.3 billion. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230331005166/en/ (Photo: Huawei) "In 2022, a challenging external environment and non-market factors continued to take a toll on Huawei's operations", said Eric Xu, Huawei's Rotating Chairman, at the company's annual report press conference. "In the midst of this storm, we kept racing ahead, doing everything in our power to maintain business continuity and serve our customers. We also went to great lengths to grow the harvest – generating a steady stream
L&T Technology Services and Ansys set up CoE for Digital Twin31.3.2023 09:30:00 CEST | Press release
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a leading global pure-play engineering services company, and Ansys, a global leader and pioneer of Multiphysics engineering simulation software have signed an MOU to establish the LTTS-Ansys Center of Excellence (CoE) for Digital Twin. The center will support LTTS in demonstrating industry use cases, develop future facing solutions, and enable its customers to optimize design, manufacturing, and supply chain processes. Ansys' Twin Builder solution will allow LTTS to further expand its market share in digital twin areas. The digital twin market is valued at $6.5 billion and is expected to reach $125.7 billion by 2030, growing at a CAGR of 39.48%. The CoE will help LTTS showcase digital twin proofs of concept to its customers and speed up their adoption. The collaboration will enable LTTS to meet the growing demand for digital twin solutions and provide access to emerging talent in the technology market. The joint efforts of Ansys