Indonesian CDMA operator Bakrie Telecom (BTel) generated revenues of just IDR1.52 billion (USD29.7 million) in the first six months of 2017, down 97.6% year-on-year from IDR64.87 billion in 1H16, IndoTelko reports. In a disclosure of information filing to the Indonesia Stock Exchange (IDX), the company reported an operating loss in the first semester of 2017 of IDR428.4 billion, down from IDR513.6 billion in the same period of 2016. Moreover, net losses in January-June 2017 climbed to IDR587.8 billion from IDR449.3 billion.
IndoTelko notes that BTel underwent capital deficiency on 30 June 2017 and 31 December 2016. ‘This condition is largely due to impairment losses on assets, write-down of advances and project development, foreign exchange losses, financial expenses and operating losses from prior years,’ the statement read.