The Company Just Acquires 396 Telecommunication Towers

Illustration. (Photo: Unsplash)

JAKARTA - The tower company PT Centratama Telekomunikasi Indonesia Tbk (CENT), through its subsidiary PT Centratama Menara Indonesia (CMI) acquired 396 tower units and rented a tower unit from PT Anugerah Communication. CENT management in the information disclosure of the Indonesia Stock Exchange (IDX), quoted on Tuesday, October 4, said that the object of the transaction is located on land owned by PT Kelola Multi Bakti (KMB) and which is owned by a third party. In detail, as many as 218 transaction objects are located on the KMB land, and 179 transaction objects are located on third-party land. "The overall value of the transaction plan is IDR 1.17 trillion, with the purchase of a transaction object of IDR 1.15 trillion and for the rental of the KMB land is IDR 19.7 billion," the management wrote. CENT management continued, the reason for this transaction was to increase the number of portfolio assets of CENT group's telecommunications tower. "CENT and CMI are always looking for opportunities to develop the telecommunication tower rental business from the company group, both through organic growth and the acquisition of telecommunication towers," he said. CENT's management further said that there are several benefits of this acquisition, namely the increase in the number of towers owned by CENT and CMI can strengthen CENT's position as a company engaged in telecommunications tower providers. The next benefit is to expand the portfolio and network of CENT and CMI service providers, especially in eastern Indonesia. The last benefit is that it can provide added value with increased total assets caused by the increase in CENT's fixed assets.