Mitratel Acquires 54 Towers Owned By XL Axiata With A Value Of IDR 36.62 Billion

JAKARTA - PT Dayamitra Telekomunikasi Tbk (MTEL) or Mitratel has acquired 54 towers belonging to PT XL Axiata Tbk (EXCL) with a total transaction of IDR 36.62 billion.

Investment Director & Corporate Secretary of MTEL Hendra Purnama said the two parties also agreed on a lease back contract of 53 towers, while another tower that is not included in the lease back is inhabited by other operators.

The company has completed the purchase transaction of 54 telecommunication towers with 63 tenants or a tenancy ratio of 1.16 times. Furthermore, MTEL also agreed to lease back over 53 telecommunication towers to PT XL Axiata Tbk. The total transaction value is IDR 36.62 billion," said Hendra quoting Antara, Wednesday, September 27.

Meanwhile, the towers that are the object of the transaction of the telecommunications infrastructure company and EXCL are spread evenly from Central Sumatra, South Sumatra, Jakarta, Bogor, West Java, Bali and Nusa Tenggara, Kalimantan, to Sulawesi.

"We always believe in the potential for economic growth outside Java and its promising contribution to the national economy," said Hendra.

In addition, Hendra said the company had acquired 51 towers belonging to two other companies on September 22, located in Bali, Jakarta and Bogor.

From the purchase of the 51 towers, the company received 79 new tenants, which means the tenancy ratio of the 51 new towers is 1.55 times.

"We believe that the divestment of tower and fiber optic assets belonging to telecommunication operators will continue. This is a strategic step for the telecommunications industry to achieve growth quickly, efficiently and effectively. Mitratel is always ready to become their strategic partner to achieve sustainable growth together," said Hendra.

During the first semester of 2023, Mitratel achieved a net profit of IDR 1.02 trillion, or grew 15 percent year on year (yoy) compared to the same period last year of IDR 891.54 billion.

Meanwhile, the main contributor to the company's revenue in the first half of this year was the tower rental which reached Rp3.45 trillion or 83.6 percent of the company's total revenue.