Heaptalk, Jakarta — PT Asha Fortuna Corpora (AFC), holding of PT Cilacap Samudera Fishing Industry Tbk (Issuer code: ASHA), has signed a Memorandum of Understanding (MoU) with a venture builder company, PT WIRA Global Solusi Tbk (issuer code: WGSH), aiming to expedite the digitalization in the fishery industry and construct big data in Indonesia.
In this strategic partnership, AFC and WGSH will establish new startups in the fishery sector through a Joint Venture business scheme where the ownership status will be held by both parties.
President Director of Asha Fortuna Corpora, Asman, realized the upstream development around the fishery industry still becomes lower priority. He conveyed that multiple obstacles, spanning regulation, human resources, and technology to fishery management, impact the industry and make this sector cannot compete maximally in the global market. By partnering with WGSH, Asman plans to reinforce the upstream sector while transforming traditional fishery management into a more modern scheme.
Explaining further, the Director of PT Cilacap Samudera Fishing Industry (CSFI), Henry Sutioso, revealed, “We will implement a fishermen partnership program to provide the ships, working capital, as well as the potential human resources to be appointed as a representative, expecting to boost their welfare”.
To enhance the fishermen’s capability, Henry added that the company would also emphasize the A to Z concept, whereby the human resources will be shaped based on the scoring and screening process. In terms of technology, he also aims to focus on technology penetration into the company’s internal community to attain more efficient fishery production before expanding into the external realms.
As a venture builder in the technology information industry, Director of PT WGSH, Edward Setiawan, emphasized, “The company would provide software of an Intellectual Property Right (HAKI PL), technology experts, and supportive ecosystem to create a startup. WGSH company also has their native data center,”
As the initial version of the strategic collaboration, Edward explained this phase would connect the idle ships, investors, consumers, and fishermen who still do not have vessels to generate a traceable product. The company would also continue to elevate this early version to be more advanced, spotlighting a dockyard/shipyard and cold chain supervision. The enhancement of this first phase is anticipated to unlock the massive potential on the business side and support the central government in building the fishery industry’s big data in the archipelago.
Through this partnership, WGSH expects to obtain a significant captive revenue stream from the startup subsidiary. He also are confident to enhance the company valuation through the collaboration with AFC, hoping to elevate the shareholder market capitalization as a public company.
“With the startup establishment, we also expect to broaden our technology built into the external realms to be more bankable, perceiving the banking penetration towards this industry only reached 0.41%. For this reason, through a big data establishment, we have a vigorous confidence to convince the investors and banking companies of the promising potential of the fishery sector in Indonesia.” Henry concluded.
As additional information, Director of ASHA, Henry Sutioso, during the press conference (11/23), stated that initial value of this cooperation will attain US$639,465. Different from other startup, Henry also conveyed that the feasibility studies of this project is great and can be implemented directly, thus, this startup will not perform ‘cash burn’.
