The Assets of Issuers from the Merger of Indosat and Tri Fatten, Displace Telkomsel and XL’s Position

ILLUSTRATION. Logo 3 (Tri), GSM operator and mobile internet service provider managed by PT Hutchison 3 Indonesia. KONTAN/Daniel Prabowo/03/04/2007

Reporter: Nur Qolbi, Teddy Gumilar | Editor: So Gumilar

KONTAN.CO.ID – JAKARTA. The entity resulting from the merger between PT Indosat Tbk (ISAT) and PT Hutchison 3 Indonesia (Tri) produced issuers with much larger assets.

In fact, the entity that will later be named PT Indosat Ooredoo Hutchison Tbk, has assets that are much larger than its two main competitors; Telkomsel and PT XL Axiata Tbk (EXCL).

As of March 31, 2021, Tri has total assets of IDR 50.417 trillion. Meanwhile, Indosat’s total assets reached Rp 62.891 trillion. So, if the total assets of these two companies are combined, the value will reach Rp 113.308 trillion.

Meanwhile, EXCL in the same period had total assets of Rp 65.931 trillion. It was the second largest, but has now been displaced to the third position.

Also Read: Ooredoo Will Buy Indosat Shares Owned by Investors Who Disagree with Merger at Rp 5,247

Meanwhile, Telkomsel, referring to the financial statements of PT Telkom Indonesia Tbk (TLKM) as of March 31, 2021, has total assets of Rp 107.596 trillion. This amount is equivalent to about 41.73% of TLKM’s total assets.

Oh yes, the use of the financial statements for the first quarter of 2021 is due to the summary of the planned merger of Indosat and Tri using data from the financial statements for that period.

However, in terms of financial performance, the merged entity of Indosat and Tri is nothing compared to Telkomsel. As of March 31, 2021, the combination of the two companies generated a total revenue of IDR 10.628 trillion.

The combined income did indeed succeed in displacing EXCL, which in the same period generated revenue of Rp 6.247 trillion. Telkomsel’s position remains solid at the top because it generates revenue of Rp 21.215 trillion.

Next page

The question of making a profit still loses >>>

–