PT Arsy Buana Travelindo Tbk (stock code: HAJJ) (the "Company"), a service provider for religious travel agencies, announced a strategic step in entering the local market of Saudi Arabia and globally through the establishment of a subsidiary of the Company, namely Arsy Buana Travelindo LLC, which is wholly owned by PT Arsy Buana Travelindo Tbk.
Arsy Buana Travelindo LLC itself has also successfully obtained a license from the Ministry of Investment of the Kingdom of Saudi Arabia ("MISA"). For information, MISA licenses foreign companies to operate independently in the local market of Saudi Arabia to serve local and global consumers. This success is expected to strengthen ABT LLC's position as one of the first public companies from Indonesia to obtain MISA certification in various sectors, including Hospitality, Transportation, Logistics, Accommodation, Restaurants, Cafes, Canteens, Consumption providers for Umrah and Hajj services.
"The success of obtaining this MISA license is a positive achievement for the Company, because it is not easy for foreign companies, especially from Indonesia, to obtain it," said Saipul Bahri, President Director of HAJJ. "This success is obtained from the good and sustainable relationship that has been established for a long time between the Company and the kingdom of Saudi Arabia," Saipul added.
This strategic move provides new opportunities for the Company to explore various new business segments. "The plan that we can explore is the comprehensive management of hotels by the Company's subsidiaries, different from what the Company has previously done, namely through the hotel allotment scheme, where this new business scheme has the potential for higher profitability margins for the Company," Saipul said.
Another business plan that can be explored is to incorporate Indonesian restaurant and café brands into the local Saudi Arabian market through hotels managed by the Company. Supported by Indonesian Umrah and Hajj pilgrims, who are the second largest in the world, this initiative is expected to enhance the worship experience for Indonesian pilgrims. Indonesian pilgrims can feel closer to home with restaurants and cafes serving dishes with Indonesian flavors. "With this license, it allows us to include various restaurant and cafe brands from Indonesia, as Indonesian pilgrims often miss the taste of Indonesian cuisine," said Agung Prabowo, Director of the Company.
In closing, Agung stated that the Company continues to be committed to continuously expand and improve the Company's services to pilgrims who are the Company's main customers. Agung believes that this step will not only provide added value to the company but also create promising investment opportunities and be able to improve the Company's performance in the future. "This step is clear evidence of the Company's commitment to continue to grow sustainably and increase the Company's value to all stakeholders," Agung concluded.
