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Indosat Ooredoo and Hutchison Tri Indonesia officially merge as one
PT Indosat Tbk and PT Hutchison 3 Indonesia have officially merged as Indosat Ooredoo Hutchison, after receiving all the required approvals from their shareholders.
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(Courtesy of Indosat)
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T Indosat Tbk and PT Hutchison 3 Indonesia have officially merged as Indosat Ooredoo Hutchison, after receiving all the required approvals from their shareholders. The merger was officially announced on Tuesday (4/01/2022).
The merger is intended to create a new world-class digital telecommunications and internet company for Indonesia. As the second-largest cellular telecommunications company in Indonesia, Indosat Ooredoo Hutchison has a better ability to compete and provide added value to all stakeholders, including employees, customers and shareholders.
Vikram Sinha, the former chief operating officer (COO) of Indosat Ooredoo will lead the new company as its appointed chief executive officer (CEO). Moreover, Nicky Lee will serve as appointed chief financial officer (CFO) alongside Vikram.
“Indosat Ooredoo Hutchison will be guided by its corporate vision to become the most preferred digital telco of Indonesia to capture the tremendous market opportunities presented by Indonesia’s digital and economic growth”, as stated in the press release.
“Today marks the start of an exciting new chapter for Indosat Ooredoo Hutchison.” Vikram said. “I am honored to lead a united, larger, and more competitive company backed by world-class experience and proven local expertise as we seek to connect and empower every Indonesian.”
Speaking at the press conference, Vikram stated Indosat Ooredoo Hutchison with its combined strength is committed to fulfilling all the demands, especially for making Indonesia the digital powerhouse in Southeast Asia and in the world. The merger will bring the enhanced scale, financial strength and proven local expertise needed to support the company’s bigger, bolder and better role, backed by two strong shareholders, CK Hutchison and Ooredoo Group. Combining all these strengths, Vikram asserted the company’s readiness to serve a larger purpose of connecting and empowering every Indonesian, while delivering world-class experiences moving forward.
Vikram recognized Indosat Ooredoo Hutchison’s promising stance in becoming the country’s most preferred digital telecommunication company, as well as one of the key players in the region to support Indonesia’s 5G ecosystem and digital transformation. He affirmed the company’s commitment to contribute to the nation’s digital and economic growth moving forward while also setting the stage to become one of Southeast Asia’s most trusted telecoms companies.
This merger has no impact on Indosat Ooredoo Hutchison's customers, who will continue to receive uninterrupted, outstanding services and offerings. To mark the company's official first day, Indosat Ooredoo Hutchison offers free calls for a month for fellow Indosat Ooredoo Hutchison customers up to 200 minutes a day. The company highlights that the added incentive is a token of gratitude for the loyalty of customers in Indonesia.
“We would also like to wholeheartedly thank all of our customers, employees, partners, shareholders, and the Government of Indonesia for enabling the combination of two of the most trusted telco brands in Indonesia. United as one team, with one purpose and one set of values, Indosat Ooredoo Hutchison is committed to fostering innovation, improving customers’ digital experiences, and creating value to the benefit of all stakeholders,” Vikram concluded.
Indosat Ooredoo Hutchison will continue to trade on the Indonesia Stock Exchange under ticker symbol ISAT. Per the press release, Indosat Ooredoo Hutchison has also announced the composition of the Board of Commissioners and Board of Directors following the voting for shareholders at the Extraordinary General Meeting of Shareholders (EGMS) which was held in December of last year.
Halim Alamsyah will serve as president commissioner, with Canning Fok Kin Ning and Aziz Ahmad M. Aluthman Fakhroo as two deputy president commissioners.
Former communications and information minister Rudiantara has been announced as one of its independent commissioners, along with Hernando, Wijayanto Samirin, Elisa Lumbantoruan and Syed Maqbul Quader. The team will also consist of seven commissioners: Frank John Sixt, Cliff Woo Chiu Man, Patrick Walujo, Nigel Thomas Byrne, Rene Heinz Werner, Ahmad Abdulaziz A A Al Neama and Meirijal Nur.
Moreover, joining Vikram and Nicky on the Board of Directors are Armand Hermawan as chief strategy & execution officer, Muhammad Danny Buldansyah as chief regulatory officer and Irsyad Sahroni as chief human resources officer.
Ritesh Singh will take over as the company’s CCO, while Desmond Cheung has been named chief technology officer (CTO). They are also joined by Bayu Hanantasena as chief business officer, Sanjeev Rawat as chief digital officer, Sanjay Vaghasia as chief integration officer, Chirag Sukhadia as chief enterprise data analytics officer, Vishal Gupta as chief procurement officer and Mohammed Afzal Lodhi as chief international audit officer.
