Publicly listed PT Bimantara Citra expects its mobile telecoms subsidiary Mobile-8 Telecom to generate revenues of between IDR600 billion and IDR700 billion (USD64.38 million and USD75.11 million) in 2006, up 70% on the IDR348 billion reported in fiscal 2005. According to President Director Bambang Hary Tanoesoedibjo, Bimantara will post overall net revenues of IDR3 trillion in 2006, up 31% year-on-year, as a result of strong growth at Mobile-8 and its other multimedia and broadcasting operations. The group also expects a 120% rise in net profit to IDR300 billion from IDR135.9 billion previously.
Hary said that Mobile-8’s revenue would rise due to a strong rise in the number of customers signing up for its post-paid SIM card, Fren. The total number of users reached 800,000 at the end of 2005, double the figure reported a year earlier, and currently stands at 1.2 million, with between 5,000 and 6,000 new additions being reported every day. The President added that Mobile-8 hopes to have signed up 1.9 million customers on Java island by the end of 2006, and five million across the country by the end of 2007 after the expansion of its network to other islands. Mobile-8 Telecom plans to invest USD150 million on network expansion.