Surge Performance In Semester I 2024 Experiences Surge

Photo: Special

JAKARTA - PT Solusi Sinergi Digital Tbk or Surge (WIFI) continues its positive performance in the early semester of 2024.

In its official statement, Thursday, August 1, Surge's total assets increased 37.2 percent from Rp1.56 trillion at the end of 2023 to Rp2.14 trillion in the second quarter of 2024.

Meanwhile, the Company's equity also increased by 12.2 percent from Rp742.65 billion at the end of 2023 to Rp833.53 billion in the second quarter of 2024. The company recorded a net income in the second quarter of 2024 of Rp309.01 billion, an increase of 40.1 percent when compared to net income in the second quarter of 2023 which amounted to Rp220.52 billion.

The Company's net profit also increased quite a bit to IDR 89.83 billion in the second quarter of 2024, an increase of 878.5 percent compared to net profit in the second quarter of 2023 which amounted to IDR 9.18 billion. The Company's net income and net profit were contributed by the Telecommunications business segment and the advertising business segment.

Surge (WIFI) continues to focus on expanding the telecommunications infrastructure segment and developing a digital ecosystem in Indonesia. The Company has also prepared itself in the face of a potential spike in connectivity needs in the future.

The company has operated 7,000 km of large-capacity fiber optic backbone infrastructure along the railway line and other lines on the island of Java. The company has also invested in the provision of large-capacity bandwidths of up to 64,000 Gbps.

And in supporting the activities of Cloud Computing going forward, the Company has also built and operated 58 Edge Data Centers (EDC) spread across various cities on the island of Java, which can still be upgraded to 592 locations on the island of Java. Currently, the Company's Edge Data Center has also been used by ISPs for colocation and Content Delivery Network (CDN) solutions for Cloud Providers.

As is known, Pertamina Gas Negara has officially collaborated with Surge (WIFI) and its subsidiary PT Integration Network Ecosystem (Weave) in the Development of Gas Pipeline Networks and ICT Service Supply for the Household and Commercial Sector for 2.5 million households. Both parties have officially signed the Key Term Sheet, which is the main point of the Cooperation Agreement.

Currently, the Company has started work in several areas that are jointly targeted. With this collaboration, it is hoped that it can accelerate the expansion of the jargas and provide added value for gas network services to potential customers, namely in the form of affordable internet subscription services so that it can increase the economic value of the jargas project.

The Company has also completed the first phase of building 200 thousand local homepasses for the ISP (Internet Service Provider). This achievement is an important milestone for IJE in expanding its infrastructure network in all regions. With the completion of the homepass development, it is hoped that it will have a big and positive impact on the Company's future revenue. The Company is also completing cooperation with operators in building 1 million fixed internet connection homepasses (Fixed Broadband).

The company has also established a strategic partnership with Qualcomm Technologies, Inc since 2023 to develop the 5G ecosystem in Indonesia through the development of Qualcomm's latest technology-supported devices, which aims to generate affordable connectivity throughout society.

This collaboration with various strategic parties is the focus of the Company in accelerating the achievement of the Company's vision. And most recently, the Company has also officially signed a Memorandum of Understanding with the Arsari Group, where Arsari Group is interested in investing in SURGE (WIFI) subsidiaries to accelerate infrastructure development in providing connectivity services to the wider community which targets 25 million households on the island of Java.

A Subsidiary of Surge (WIFI), PT Integration Network Ecosystem (IJE) has also successfully issued bonds of IDR 600 billion for capital expenditure for the expansion of connectivity infrastructure which will strengthen the position of Surge (WIFI) as a key player in the Telecommunications industry.

Currently, PT Integration Network Ecosystems has around 200 partners and clients with good reputation in the telecommunications industry, including NTT Indonesia, Starlink Services Indonesia, My Republic, Lightstorm, Huawei Cloud, Qualcomm, BDDC, Trans Hybrid Communication, Pertamina Gas Negara, and others.

To support existing business developments, the Company has also signed a Cooperation Agreement with Nokia Indonesia last week. Nokia will become Surge's strategic partner in providing end-to-end network connectivity. This initiative aims to provide reliable, high-speed, and affordable internet services to 25 million households on the island of Java, which will then expand to other islands in Indonesia.

This collaboration will also answer the needs of Artificial Intelligence, Machine Learning, Automation, and User Experience Development. It is also hoped that this will have an impact on education by supporting distance learning and developing essential digital skills. This will prepare the younger generation to contribute to improving the nation's intelligence and welfare.

With all the developments, collaboration, and integration of the entire digital ecosystem, the Company is ready to become the backbone of connectivity that supports digital transformation in Indonesia and provides added value to the national economy.

Director of PT Solusi Sinergi Digital Tbk, Gilman Nugraha, said the Company continues to consistently show its best performance as reflected in increasing net income in various business segments and increasing profit performance.

"This result is the fruit of our strategic initiative, hard work, and commitment to provide added value for stakeholders. Therefore, the Company continues to transform into a technology company that is reliable and highly competitive. In the future, we hope to improve our performance consistently in achieving our vision and mission to provide reliable and affordable internet services for the whole community," he explained.