Ann: Key Terms Agreed for Mobile Sports Streaming with Indosat, page-146

Indosat have a market cap of around AU$1.7 billion, and reported a net income of a little over AU$100 million over the previous year. I've converted to AUD, as it's easier than talking in the trillions in IDR!

From my calculations, these figures would put it at roughly 16x earnings currently. It topped out at a share price of 7,500IDR and currently sits at 3,370IDR. At it's peak it would have been trading at roughly 35x earnings using current figures. So it's possible that this was simply a correction, just as we've seen in a lot of medium to large caps on the ASX that have been overvalued lately.

“Indosat is very serious in expanding its business especially outside Java, as indicated by additional investment and the company’s Capex of Rp8 trillion for year 2018,” said Joy.

With such a focus on growth, let's hope a portion of the reported AU$750 million in CapEx will flow towards our project and partnership with them.