JAKARTA - PT Remala Abadi Tbk (DATA) acquired 85% of PT Fiber Media Indonesia (FMI) shares for IDR 19.97 billion. This acquisition reflects DATAs optimism after achieving an increase in performance in the first semester of 2024.
In the disclosure of information quoted on Tuesday (24/9), Richard Kartawijaya, President Director of DATA said that the company had taken over 850 shares equivalent to 85% of FMIs paid-up and placed capital. This acquisition strengthens the companys position in the internet service provider sector in accordance with the companys strategy to increase market presence and service capabilities, he said.
According to him, DATAs operations are expected to be more efficient after acquiring FMI shares due to the integration of the companys network and services. In addition, DATAs market reach and segmentation will be wider, including significantly increased service capacity.
He said that the FMI acquisition is projected to create cost efficiency and increase profit margins, including expanding the customer base. The funds of IDR 19.9 billion used for the FMI acquisition will reduce the companys IPO fund balance, he said.
In the first semester of 2024, DATA collected revenue of IDR 127.47 billion, up from the first semester of 2023 of IDR105.22 billion. Gross profit of IDR 84.43 billion, up from IDR 55.33 billion, and profit of IDR 29.19 billion, up from IDR 18.21 billion.
DATAs revenue contributors from the Telecommunications sector were IDR 123.44 billion, up from IDR 98.53 billion and Non-Telecommunications fell to IDR 4.03 billion from IDR 6.69 billion. (LK/LM)