30 | FORBES INDONESIA AUGUST 2017
(^2017)
COMPANIES
Formerly known as PT Dyviacom Intrabumi,
Indoritel Makmur Internasional is an investment
holding company focused on Indonesia’s consum-
er and retail sectors. Although originally formed
as an Internet firm, the company pivoted into re-
tail in 2013. The company invested Rp 7 trillion to
buy stakes in one private and two public compa-
nies operating in Indonesia’s consumer and retail
sector. Indoritel now holds a 40% stake in Indo-
maret, Indonesia’s largest minimarket operator
by number of stores. The company also acquired
a 31% interest in Nippon Sari Roti, Indonesia’s
leading bread manufacturer. Finally, the company
has a 36% interest in Fastfood Indonesia, which
operate KFC restaurants in Indonesia, one of the
largest QSR brands in the country. Indoritel is still
engaged in Internet services, specifically network,
infrastructure and security systems. In 2015, the
company expanded its Internet commitment with
an investment in fiber optic network developer
PT Mega Akses Persada. The company saw a leap
in revenue over last year, closing 2016 with Rp 23
billion, a 146% increase from 2015.
The Company was established under the
name of PT Seruling Indah Permai in 1996
and later changed its name to PT Link Net in
2000 as it shifted its line of business to the
field of information technology and internet
provider services. Now, the Company is an
established provider of cable television and
high speed broadband internet services in
Indonesia operating the high tech Hybrid Fiber
Coaxial (“HFC”) cable system and Fiber to the
Home for retail and corporate customers. With
PT First Media Television, the company also
provides paid television products. In the first
quarter this year the company added 35 thou-
sand new homes connected to its services,
adding to a total of 1.86 million homes. The
company also manages to increase its average
revenue per user (ARPU) to Rp 418,000 from
Rp 407,000 by selling value added services.
- INDORITEL MAKMUR
INTERNASIONAL^1
RETAIL AND CONSUMPTION
MARKET CAP: RP 34.89 TN
NET PROFIT: RP 410.86 BN - LINK NET^1
PAY TV AND INTERNET PROVIDER
MARKET CAP: RP 16.20 TN
NET PROFIT: RP 818.56 BN
COURTESY OF LINK NETMETHODOLOGY
Companies were ranked based on a composite score using multiple metrics assigned various weights in a formula including three-year
average return on equity, three-year sales growth and three-year profit growth. Those results were then screened for governance. Prices
and exchange rates are as of mid-July. Financials used were for the latest available full-year, typically for calendar year 2016.