WGSH to expand its valuation by developing an IT system in the fisheries industry

Sinta, news . 25 Nov 2022

Heaptalk, Jakarta — An Indonesian-based venture builder, Wira Global Solusi (WGSH), expands its portfolio to develop information technology systems in the fisheries industry. This measure is performed as the Company find a great potential in the industry which recently demonstrated significant development.

Great potential in the fishery industry in contrast to a low number of IT players

According to Food and Agriculture Organization (FAO), Indonesia was the world’s third-largest fishery producer in 2020 with a share of 7% of the total while China remained in the first place (35%) and India was in second place (8%). Together with Vietnam (5%) and Peru (3%), the five countries were responsible for about 57% of the world fisheries and aquaculture production in 2020.

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The Ministry of Marine Affairs and Fisheries estimates that the total potential for fish resources in Indonesia’s 11 fisheries management areas is 12.01 million tons per year, with a total allowable fish catch of 8.6 million tons per year.

Meanwhile, the number of IT players in the fisheries sector remains diminutive. “We want to be one of the companies collaborating in the fisheries sector, particularly to provide assistance in technology,” said WGSH Chief Technology Officer Pingadi Limajaya.

Build collaboration to boost valuation

Recognizing the great potential in fishery industry, Wira Global Solusi takes the initiative to collaborate with Cilacap Samudra Fishing Industry (CSFI) to develop a capture fisheries information system, specifically for upstream, by establishing a startup. WGSH will provide software licenses, technology experts, and a supportive ecosystem to build the startup.

Previously, WGSH has developed downstream fisheries information technology, spanning logistics and distribution. However, the collaboration with CSFI will be the first upstream project.

“We have developed a portfolio for logistics in the downstream. Besides, we have also developed downstream distribution as well. After distribution, we can continue to the consumer side. Whether a sales system or a marketplace for fishermen, that is what we will discuss further,” said Pingadi.

For the initial stage of collaboration, WGSH will create an application that provides data on upstream capture fisheries, including the number of vessels and fishermen. Further development is possible by adding management information for dockyards, cold chains, and other infrastructure.

Through this collaboration, Edward expected WGSH can boost its valuation. “Currently our valuation is at Rp144,” said him.

In 2021, Wira Global Solusi has recorded positive performance with revenue of Rp22.12 billion, which equals US$1.41 million (US$1=Rp15,665), an increase of 1,784% compared to revenue in 2020. Its consolidated profit in 2021 has also increased to Rp3.96 billion (equivalent to US$252,809) compared to its profit in 2020 of Rp144.18 million (equivalent to US$9,204).

Increased profits in 2021 are contributed by the growth of information technology services through application delivery and managed services (ADMS) spanning software licensing, programming services, and software projects.