JAKARTA - PT Mora Telematika Indonesia Tbk (MORA), more popularly known as Moratelindo, is budgeting capital expenditure (capex) worth IDR 1 trillion for 2024.

Met at Annual Public Expose 2024 of MORA today (13/6), Genta Andhika Putra, Vice President Director and Chief Financial Officer of Moratelindo, mentioned that this capex will utilise the combination of both sukuk issuance proceeds and bank loans.

The quite significant amount of capex will be allocated to several expansion plans of Moratelindo. “In order to extend its backbone network of Jakarta-Singapore, increase home passes of FTTH network, and upgrade the capacity,” said Putra.

It is worth mentioning that as of 2023, MORA reported 692.1 thousand home passes in its FTTH network, up 26% year-on-year (yoy) from 548.7 thousand in 2022. This year, the FTTH network of Moratelindo is also said to branch out to new areas in Pekanbaru, Riau.

In addition, the company is known to currently focus on its data centre expansion in Batam. “With the flourishing AI-based businesses, it has become an opportunity for our data centre business line,” added Resi Y. Bramani, Chief Strategic Business Officer of MORA.

Until Q1 2024, Bramani mentioned that the company has realised capex of up to 30%, or approximately IDR 300 billion, although the detail of the capex utilisation has yet to be disclosed.

This year, although its Q1 performance slightly improved, with net profit climbing 10% yoy to IDR 254.5 billion, the management of MORA is targeting moderate growth rate, a single-digit growth. (ZH)