The Telkom 1 satellite of state-owned telecommunications company PT Telkom Indonesia (Telkom) had already passed its 15-year lifespan when it suddenly went offline on Friday.
The troubled satellite, launched on Aug. 4, 1999, is currently 18 years old.
Telkom 1 went offline on Friday at 4:51 p.m. Jakarta time, disrupting the services of several banks such as Bank Central Asia (BCA) and Bank Mandiri that use the Telkom 1 VSAT connection for their ATM and EDC machines.
Telkom is currently migrating the services to its Telkom 2 and Telkom 3S satellites. Telkom president director Alex Janangkih Sinaga said the total loss caused by the incident was still being calculated.