Cellular operator SmartFren Telecom (FREN), controlled by the family of Widjaja (Sinarmas Group), still until now struggles with years of losses. In 2023, FREN suffered net loss of Rp108.9 billion, against profit of Rp1.06 trillion in 2022, mainly due to Rp467.8 billion loss on investment in shares. In 2022, FREN recorded Rp1.64 trillion income on investment in shares. To subscribe please click here