JAKARTA - PT Mora Telematika Indonesia Tbk (MORA), widely known as Moratelindo, decides not to distribute dividend in the fiscal year 2022 and chooses to focus on its business expansion in 2023. The funds for expansion purposes will originate from the proceeds of its initial public offering (IPO) proceeds and Sukuk Ijarah issuance, as well as bank facilities.

Based on the explanation of Genta Andhika Putra, Vice President Director of Moratelindo, during the Annual Public Expose, in 2023, MORA’s focus will lie on expansion of backbone network capacity and reinforcement of access network. On top of this, MORA will also build another rack in its data centre in Batam, considering the utilisation level of its 6 data centres have reached 76% in 2022.

“We will also increase the number of home-passed of FTHH (fibre-to-the-home) from 548 thousand points in 2022, targeting to multiply them by double-digit in 2023,” Putra said.

Jimmy Kadir, President Director of Moratelindo, confirmed this plan. “This year, the company focuses on the development of FTTH, particularly after observing high demands during the pandemic. It will be our key driver of MORA’s growth in 2023,” he added. He further mentioned that Moratelindo will attempt to score double-digit growth in 2023.

In order to succeed with this expansion, MORA will utilise several available fundings, including the 2022 net profit and the remainder of IPO proceeds. “Until December 2022, we had used up 50%-60% of the proceeds for investments, expansion, and working capital. It may run out by Q3,” Kadir admitted.

Moratelindo also prepares the capital expenditure budget for 2023 by collecting the projected proceeds of IDR 700 billion from the issuance of Sukuk Ijarah II Phase I on July 4-6. Then, the company is also seeking bank facility worth IDR 650 billion. (ZH)