Bakrie Telecom, the communications arm of Indonesia’s Bakrie and Brothers, reported gross revenues of IDR580 billion (USD63.7 million) in its fiscal Q1 to 30 June 2007, up 63% from IDR355 billion in the same period of 2006, says The Jakarta Post. The CDMA operator, which offers mobile services under the brand name Esia, attributed the strong performance to a 112% leap in subscriber numbers: by the end of June the company had doubled its base in a year to 2.2 million. The operator’s President director Anindya Novyan Bakrie said the firm is now targeting 3.6 million subscribers by the end of the year. To help achieve this goal Bakrie will, next month, begin work on expanding its coverage to 34 cities, up from the current 17 cities covered in Greater Jakarta, and West Java and Banten provinces. The plan will see the number of base stations in operation doubling to 800, while the increased footprint is expected to generate customer additions of 500,000 towards its overall year-end target of 3.6 million. The company has set aside about USD220 million for capital expenditure this year to finance its expansion plans, USD70 million of which will be raised from vendor financing, USD95 million from bank borrowing and USD55 million from bonds.
Bakrie also operates a Wifone wireless fixed service, Wimode wireless internet service and the Esia-tel chain of telephone kiosks.