Tower Company From The Djarum Group Of The Hartono Brothers Conglomerate Adds IDR 1 Trillion Credit Facility From BCA

JAKARTA - The tower company of the Djarum Group owned by the Hartono Brothers conglomerate, PT Sarana Menara Nusantara Tbk (TOWR) has added a credit facility to IDR 1 trillion from the original IDR 750 billion.

In TOWR's disclosure of information, quoted on Tuesday, December 14, the company owned by the richest person in Indonesia received the loan facility from BCA. The funds are planned to be used by several TOWR subsidiaries, including PT Professional Telekomunikasi (Protelindo), PT Solusi Tunas Pratama Tbk. (SUPR), and PT Iforte Solusi Infotek (Iforte).

Management stated that there was no material impact on the operational, legal, financial condition, or business continuity of the company after the signing of the agreement.

On the other hand, as the controlling shareholder, TOWR through its subsidiary Protelindo has become a guarantor for SUPR to obtain a loan facility of IDR 5.25 trillion. SUPR management also targets revenue this year to grow between 8 percent and 11 percent.

Referring to the score in the first semester of 2021, the company has been able to realize the target by growing 11 percent to IDR 1.04 trillion. The revenue target by the end of the year has the potential to increase to IDR 2.11 trillion compared to the 2020 score of IDR 1.92 trillion. That way, the potential for TOWR's income will increase many times.

In addition, SUPR is in the phase of adding 200-300 new towers. For fiber networks, SUPR targets an additional 3,000 kilometers this year.