Following Indosat, XL Axiata Released 161 Towers Worth Rp137 Billion To Dhost Telekomunikasi

Workers are seen carrying out maintenance of cell towers (Photo: Special)

JAKARTA - The mobile operator PT XL Axiata Tbk. said to have carried out the sale and purchase of the transfer of 161 telecommunication infrastructure assets worth more than IDR 137.6 billion to PT Dhost Telekomunikasi Nusantara.

This is the statement conveyed by XL in the disclosure of information submitted to the Indonesia Stock Exchange (IDX), Thursday, April 1.

"That the ownership status of telecommunication infrastructure assets that have been transferred is not recorded as company assets," wrote the issuer coded EXCL shares.

Meanwhile, the sale and purchase transaction settlement was completed on March 31 yesterday by mutual agreement between the two parties.

This corporate action complements the previous strategic move at the end of last year with the completion of 2,688 towers worth Rp 3.8 trillion to PT Profesional Telekomunikasi Indonesia (Protelindo) and PT Centratama Menara Indonesia (CMI).

To note, XL Axiata itself is one of the cellular service providers that is quite aggressive in acquiring domestic consumers. Noted, until December 2020 the company claims to have had a total of 57.9 million subscribers.

This figure grew by about 2 percent or the equivalent of 1.2 million subscribers compared to the same period in 2019.

For information, another national provider that has launched its tower sales action is PT Indosat Tbk.

In a press statement, Indosat announced that it had signed a sale and leaseback agreement for more than 4,200 telecommunication towers with PT EPID Menara Asset Co. (Edge Point Indonesia) worth a total of 750 million US dollars or the equivalent of IDR 10.9 trillion (exchange rate of IDR 14,552).

President Director of Indosat Ahmad Al-Neama said the sale will open up capital to build growth momentum in the company's network performance.

"Obtaining revenue from a portfolio of high quality telecommunication towers is the main pillar of the company's current strategy," he said as reported by VOI on Tuesday, March 30.