Jakarta, INTI - PT Indosat Tbk (ISAT) injected fiber optic network assets worth Rp8.18 trillion into its subsidiary, PT Infra Fiber Teknologi (IFT), through an inbreng mechanism in May 2026.
The corporate action includes the transfer of backbone, access, and submarine fiber infrastructure to consolidate fiber asset management under a single, more efficient entity.
This strategic move forms part of a broader series of material and affiliated transactions aimed at optimizing the company’s capital structure ahead of the entry of a new investor.
Details of ISAT’s Fiber Asset Injection
The capital injection into PT Infra Fiber Teknologi was carried out through a non-cash asset contribution scheme.
The transaction covers ISAT’s fiber optic cable network, consisting of more than 71 million meters of backbone and access infrastructure, along with 3.3 million meters of submarine cable networks.
The value of the transaction represents approximately 34.2% of ISAT’s total equity based on the company’s audited financial statements as of December 31, 2025.
In addition to ISAT, another subsidiary, PT Aplikanusa Lintasarta, also contributed fiber optic assets worth Rp256 billion to PT Infra Fiber Teknologi.
Impact on Investors
The consolidation of fiber optic assets into PT Infra Fiber Teknologi is expected to provide greater clarity in ISAT’s asset structure for shareholders.
Investors should note that this transaction serves as an initial step before ISAT and Lintasarta proceed with a planned divestment of shares in the subsidiary to a third party or strategic investor, PT Ainfrastruktur Indonesia Raya.
The transaction does not directly dilute share ownership at the parent company level but changes the composition of fixed assets into investments within a specific entity.
This strategy is expected to create long-term value through an open-access infrastructure model that can be utilized by players across the telecommunications industry.
Proforma Financial Position as of December 31, 2025
Based on the consolidated proforma financial statements, the group’s total assets increased following adjustments related to deferred tax assets and tax liabilities arising from the inbreng transaction.
Total proforma assets reached Rp121.09 trillion, compared to the historical position of Rp118.62 trillion.
Profit for the year attributable to owners of the parent entity was recorded at Rp5.50 trillion in the proforma report.
The proforma adjustments also included transaction costs amounting to Rp8.38 billion, which were recorded as expenses in the income statement.
FAQ on ISAT’s Asset Injection
The primary objective of the fiber optic asset injection is to centralize and optimize infrastructure management through a dedicated entity, PT Infra Fiber Teknologi, in order to support the company’s future expansion plans.
The transaction also involves affiliated parties, as it was conducted between ISAT and its controlled subsidiary, with overlapping members serving on the Board of Directors and Board of Commissioners of the related entities.
Regarding the fairness of the transaction, independent appraisal firm KJPP Ruky, Safrudin & Rekan concluded that the proposed inbreng asset transaction is considered fair for both the company and its shareholders.
Conclusion
ISAT’s Rp8.18 trillion fiber optic asset injection marks a strategic step to streamline infrastructure management, strengthen operational efficiency, and prepare for future investment expansion in Indonesia’s telecommunications sector.
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