PT Yelooo Integra Datanet Tbk focuses on developing digital products to improve the quality of fiber optic infrastructure on Java island. Through its Viberlink, the company will provide internet access to villages and target to gain 100,000 customers in 2022. Yelooo has budgeted a total capital expenditure (Capex) of IDR20 billion.
Yelooo is a company engaged in trading, communication equipment industry and communication technology equipment rental services. The company has a composition of shares of 52.06% public shares and 47.94% owned by PT Artalindo Semesta Nusantara.
Yelooo will further develop its business in the fiber optic sector. The company will focus on domestic Internet Service Providers (ISP) business and data packages and expand to rural areas.
“We are focusing on West Java and part of Central Java. Our target is around 100,000 users for this year,” President Director Wewy Suwanto said on July 19, 2022. “We will expand fiber optic infrastructure throughout Java. We will be more aggressive to add customers.”
To achieve its goals, the company has strategies, including developing digital products in tier 2 and 3 areas spanning 2,800 kilometers covering approximately 4,291 villages. The other four strategies are providing digital ISPs to bring fast internet to rural areas at affordable prices through Viberlink; improving the quality of fiber optic infrastructure in Java; exploring business potential of fiber optic connectivity and infrastructure; and focusing on boosting the potential for post-pandemic connectivity.
Suwanto said the company did not need loan from third parties because the Capex from internal source was adequate. “This 2022 investment of IDR20 billion comes from company.”
Based on the prospectus, Yelooo plans to increase capital through a rights issue of 15.3 billion new shares with a nominal value of IDR100 per share. Previously, the company targeted to obtain fresh funds of IDR737 billion.
In June 2022, Yelooo’s share price soared by 27.78% due to the company’s revenue which increased by IDR113.8 billion in Q1 2022 or 57.6% hike compared to the same period last year of IDR72.2 billion. This was due to the company’s ambition to accelerate its business transformation from fast and affordable fiber optic services, especially in rural areas.
Internet services of 100 Mbps in remote areas using 100% fiber optic are affordable for users. The internet infrastructure improvement is necessary to have a direct impact on the development of digital economy for education, agriculture and creative industry.
According to Statistics Indonesia (BPS), the number of Indonesians living in cities reached 56.7% in 2020. It shows the remaining 43.3% still live in rural areas. Meanwhile, according to Worldometer, Indonesia’s population in 2020 reached 273,523,615. A total of 119,335,069 live in rural areas, who are the target market for Yelooo.
