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Silkwave (471.HK) Will Establish JV To Provide Satellite – Internet and Digital Multimedia to 30,000+ Indonesian


EQS Newswire / 05/01/2023 / 10:16 UTC+8

Silkwave (471.HK) Will Establish JV To Provide Satellite – Internet and Digital Multimedia to 30,000+ Indonesian

 

5 January, 2023 – Hong Kong】Asia's largest high-orbit satellite based mobile data connectivity and transmission service provider – Silkwave INC (“Silkwave” or the “Company”, together with its subsidiaries, the “Group”, stock code: 471), is pleased to announce that the Company has entered into a strategic partnership agreement (“Agreement”) with PT Bum Desa Indonesia to form a joint-venture and provide satellite-based Internet connectivity and digital multimedia services to over 30,000 remote villages in Indonesia. The service will allow tens of millions of households to access modern Internet and digital services for the first time. It represents a most cost-effective and scalable last-mile solution to bring about rich digital services to remote villages and promises to help eliminate the Digital Divide and leapfrog Indonesia’s digital economic transformation.

 

The Agreement was collaborated and endorsed by Space Aeronautics Association of Indonesia, and its signing  was witnessed in a ceremony held in Hong Kong on 24 December 2022 by His Excellency Djauhari Oratmangun, Indonesian Ambassador to China, and His Excellency Ricky Suhendar, Indonesian Consul General to Hong Kong.

 

PT Bum Desa Indonesia (“BDI”) is an Indonesian national holding company of village enterprises created under the Indonesian Village Law 2014. It directly and indirectly manages over 30,000 Villages (Bumdes) and has access and networking with all the Villages in Indonesia. Its main task is to steer the development of modern digital infrastructure of the Villages in collaboration with the government’s national effort of modernizing Indonesian Villages. Indonesia has approx. 18,750 islands and 75,000 Villages, which account for 40% of Indonesia’s 285 million population and most still do not have Internet access. Conventional terrestrial Internet infrastructure is economically and geographically too challenging. Satellite transmission is seen as the most viable option.

 

Under the Agreement, Silkwave will act as a master contractor to provide end-to-end technology and service solutions, which will include the space, ground, and end-user segments to enable holistic digital connectivity and services to the Villages, whereas BDI will provide all necessary local business operation and development support. Both parties will form a joint venture to operate the service franchise. The term of the Agreement is for 3 years and is automatically renewable every 3 years.

The Company’s technology solution is premised on its innovative converged technology platform, which seeks to combine the state-of-the-art “SpaceX – Starlink” broadband Internet capability as well as regional “VSAT high-throughput” Internet capability with Silkwave’s own L-band mobile multimedia broadcasting / multicasting capability, such that both Internet and multimedia services will be separately received by ground terminals at each Village centre and integrated as a unified service into Silkwave’s onsite high-speed Point-to-Multipoint WiFi Mesh Network for wireless distribution to all households within 20 to 30 km radius. As a result, villagers will be able to access both the high-speed Internet service as well as unlimited and data-charge-free audio-video streaming-broadcasting service on their individual smartphones, tablets, computers, and connected-devices.

 

Villagers are expected to pay for the services partly through their existing government subsidies. Additional revenues are also expected to be generated from multiple value-added services such as digital advertising, online education, healthcare, infotainment, eCommerce, and eBanking, which will be operated by the joint-venture in collaboration with third party service providers.

 

Trial network service is expected to be set up for proof-of-concept in multiple sites in Indonesia starting February this year, which will later be followed by step-by-step commercial rollout across the country.

 

Subsequent to the implementation of the Agreement, it will not only allow the Company to quickly tap into a huge market and generate significant, stable, and long-term revenue streams, but will also mark the Company as one of first Hong Kong enterprises to deploy the new-generation Internet and digital service in ASEAN’s largest country, bolstering Company’s development as Asia’s leading satellite Internet data-as-a-service provider.

 

In addition, Silkwave will bring together Chinese supply-chain, China-US cutting-edge technologies, and international satellite networks to resolve ASEAN’s rural connectivity problem while contributing to the development of an Asia-Pacific Digital Belt-Road and cementing Hong Kong as the regional hub for the coming space digital technology and services.

 



File: Silkwave (471.HK) Will Establish JV To Provide Satellite – Internet and Digital Multimedia to 30,000+ Indonesian

05/01/2023 Dissemination of a Financial Press Release, transmitted by EQS News.
The issuer is solely responsible for the content of this announcement.

Media archive at www.todayir.com

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