January 19, 2015, in Wuhan, China, Yangtze Optical Fibre and Cable Joint Stock Limited Company (hereinafter referred to as YOFC) and Indonesian PT Monas Permata Persada (hereinafter referred to as MPP) signed an agreement of establishing a joint venture company in fibre manufacturing, PT YANGTZE OPTICAL FIBRE INDONESIA (hereinafter referred to as PT YOFI).
The new company PT YOFI will be the first fibre manufacturing enterprise in Indonesia, with production capacity of 3 million fkm optical fibre per annum, the total contribution of capital is $10,000,000 in cash, and the shareholding ratio is 70% (YOFC) and 30% (MPP).
In 2013, President Xi inspected YOFC and had encouraged the globalization development of the corporation. In the end of last year, YOFC was successfully listed on Hong Kong Stock Exchange, which accelerated globalization layout according to the “one area one road” strategy. The new company is the first overseas optical fibre joint venture project of YOFC, is another milestone to the globalization development after listing, and is the alliance between two powerful companies, which refers to the further acceleration in the applying globalization strategy of YOFC. As first supplier of optical preform and the second supplier of optical fibre and cable in the worldwide, YOFC has good reputation and advanced technology, No.1 global optical fiber preform supplier and No2 global optical fibre and cable supplier. Meanwhile, MPP is the largest shareholder of a topping cable company in Indonesia which has many customers from both the domestic telecommunication companies and private government. The powerful alliance and mutual cooperation between the two corporations are beneficial for resource complementary, improving core competitiveness, participating in the market competition of Indonesia and ASEAN, and striving for great market share.
Indonesia has a population of 252,000,000, is the world’s fourth most populous country. In recent years, YOFI will take advantage of the high technologies of YOFC and the local resources of MPP to become the most influential fibre supplier in Indonesia and ASEAN region and make its due contribution to the local telecommunication market.