In today’s briefing:
- Indosat Tbk PT (ISAT IJ) – A Turnaround in the Making?
- GoTo Tearsheet – Accounts for 2% of Indonesia’s Economy
Indosat Tbk PT (ISAT IJ) – A Turnaround in the Making?
- Indosat (ISAT IJ)‘s recent results reflect a company going through a positive transition with sales up by +12.4% and EBITDA up +21.4% suggesting a turnaround in the making.
- The company’s acquisition of Hutchison’s 3 looks astute, removing an aggressive competitor, propelling into the number two slot, as well as providing potential operational and scale-related synergies.
- 2022 will be the company’s year of transition, with higher capex to realised synergies and keep improving the network quality. Valuations are appealing for long-term investors.
GoTo Tearsheet – Accounts for 2% of Indonesia’s Economy
- GoTo, is an Indonesian holding company, was formed in May 2021 as a result of a merger between Gojek, leading player in ride hailing, and Tokopedia, leading e-commerce player.
- GoTo raised more than US$1.3bn in its pre-IPO funding which was reported in November 2021, see here. Valuation was said to be between US$28.5-30.0bn.
- The company had already announced that it would look to undertake a dual listing in Indonesia and the US.
Before it’s here, it’s on Smartkarma
