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 Co. Ltd. (hereinafter referred to as PT Monas) signed an agreement of establishing a joint venture company in fibre manufacturing.

The new company will be the first fibre manufacturing enterprise in Indonesia, the total contribution of capital is $10,000,000 in cash, and the shareholding ratio is 70% (YOFC) and 30% (PT Monas).

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, 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. Meanwhile, PT Monas has great customer and government relationship in Indonesia and is familiar with domestic telecom market. 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, Indonesia has political stability and steady economic development. However, the telecom industry development is relatively slow (the users of the Internet is few and broadband penetration is low). In this regard, Indonesian government launched the national broadband plan for promoting the development of domestic Internet and broadband. Therefore, Indonesia has a great chance to usher the peak of optical network construction and potentially huge market demand in optical fibre and cable. In this case, the new joint venture plan of YOFC and PT Monas meet the great market opportunities. In the basis of the integration of two shareholders’ advantageous resources, the new company will take Indonesia as base and radiate the surrounding countries and areas for striving in becoming the most influential fibre supplier in Indonesia and ASEAN region.