East Java ISP NarayaOne pitches $2M sukuk and telco tie-ups at Singapore’s CommunicAsia

The Surabaya-based digital group is positioning itself as a regional gateway, targeting infrastructure and payment partnerships across Southeast Asia.

NarayaOne, an East Java-based integrated digital services group, is set to exhibit at CommunicAsia 2026 in Singapore from May 20 to 22 — making it one of the few Indonesian provincial operators to participate in the annual Southeast Asian telecoms and technology trade show.

The group, which operates under the Naraya One holding structure and includes Kapten Naratel (an internet service provider), a payment gateway (Sparkpay), and a creative studio, is bringing a four-track business development pitch to the event — including a hybrid sukuk offering and a 60-day technology pilot program.

“At the very least, this shows that our industry can thrive without always needing government support.”

Lucky Kristian, coordinator of the foreign trade division at the East Java Provincial Industry and Trade Office, said in a statement ahead of the event that NarayaOne’s participation carries significance beyond corporate interest.

“We congratulate NarayaOne on its upcoming exhibition in Singapore. Indirectly, NarayaOne represents the government and people of East Java,” Kristian said. He cited the province’s economic growth of 5.96% — above the national average — as evidence of East Java’s competitiveness and expressed hope that the trip would yield investor interest or product sales.

WHAT NARAYAONE IS PITCHING

The company is presenting four partnership models to prospective investors and technology partners at the event:

• Strategic Investment — a $2 million hybrid sukuk offering structured as asset-backed and growth-backed instruments, with a reported 10.4x projected value creation and a target IDX listing in 2028. The company says the structure involves zero equity dilution, though independent verification of these projections was not available at the time of writing.

• Technology Integration — targeting initial penetration into 142,000-plus connected devices through a production-ready environment, supported by a 60-day pilot program for prospective partners.

• Telco / ISP Partnership — the company holds an active ISP license and operates fiber, wireless, and IoT infrastructure. It is a member of APJII (Indonesian Internet Service Provider Association) and APJATEL.

• Go-to-Market Partnership — targeting co-sell, white-label, and bundle opportunities across Indonesia’s addressable market of over 280 million people and more than 60 million SMEs.

NarayaOne describes its overall positioning as “Your Digital Gateway to Indonesia,” citing 17 years of operation, over 19,300 customers, and five business units on a single platform — figures sourced from the company’s own materials and not independently audited.

PROVINCIAL BACKING, SELF-FUNDED PRESENCE

Kristian also noted the symbolic significance of NarayaOne’s self-funded participation — a point the provincial government appears to view as a marker of industry maturity.

“East Java is the hub for Eastern Indonesia,” he said. “With NarayaOne heading to Singapore, we aim to strengthen trade routes so that East Java truly becomes the New Gateway to the Archipelago.” The statement echoes NarayaOne’s own framing, though both represent aspirational positioning rather than confirmed commercial outcomes.

The group’s booth at CommunicAsia will be located at Hall 3, Booth 3K2-7.

CommunicAsia is one of Asia’s longest-running ICT trade events. The 2026 edition, co-located with ATxSG (Asia Tech x Singapore), draws telecoms operators, enterprise technology buyers, and venture investors from across the region.

For Indonesian operators seeking regional partnerships, it represents a relatively accessible entry point — though the gap between exhibition presence and closed deals has historically been wide for smaller market participants.

NarayaOne’s participation will be closely watched by regional observers tracking the maturation of tier-2 Indonesian ISPs as they seek to compete and partner beyond domestic borders.

This press release has also been published on VRITIMES