DEPOK (eNBe Indonesia) - Link Net (LINK), subsidiary of XL Axiata (EXCL), obtained loan facility of Rp3 trillion from Bank Central Asia (BCA), used to build a home pass. This credit facility has a term of 5 years.
LINK previously planned to accelerate the provision of eight million home passes over the next five years.
This home pass will be utilized by the parent company, XL Axiata. Precisely to provide FBB and FMC services to all XL Axiata customers.
LINK is also transforming its residential broadband business into Fiber Co, and is focusing on the core activity of developing fixed line networks.
LINK is now valued at Rp4.76 trillion, trading at Rp1730 per share on Friday last week, losing 34% year to date due to its poor earnings.
The Company has not reported yet its financial statement for the first half (H1) of 2023. In the first quarter (Q1), it suffered net loss of Rp59 billion on revenues of Rp977.7 billion. In Q1 of 2022, LINK booked net profit of Rp128 billion on revenues of Rp1.05 trillion.
LINK and XL have said they continue to accelerate market penetration of Fixed Broadband (FBB) and Fixed Mobile Convergence (FMC) services in Indonesia, by building a network of 1 million homes passed which is targeted to be completed within 1 year, reaching more than 10 cities or districts in several provinces, including outside Java.***