The Tower Company Owned By Conglomerates Edwin Soeryadjaya And Sandiaga Uno Prepares Bonds IV Phase IV Funds Of IDR 970 Billion

Conglomerate Edwin Soeryadjaya together with Sandiaga Uno. (Photo: Instagram @sandiuno)

JAKARTA - The tower company owned by conglomerates Edwin Soeryadjaya and Sandiaga Uno, PT Tower Bersama Infrastructure Tbk. (TBIG) stated that it is ready to pay off the company's debt securities which will mature next month.

Director of Tower Bersama Helmy Yusman Santoso said the debt securities were a sustainable bond IV Tower Bersama Infrastructure Phase IV 2021 which will mature on April 19, 2022 with a principal amount of Rp970 billion.

"The company has provided funds to pay off the principal and interest of the 4 bonds to bondholders," Helmy said in an information disclosure on the Indonesia Stock Exchange (IDX), quoted Saturday, March 26.

The principal and interest payments of the 4 bonds will be made and distributed through PT Kustodian Sentral Efek Indonesia as the payment agent.

For information, this bond has a fixed interest rate of 5.5 percent per year with a tenor of 370 calendar days. The Company issued these bonds in 2021, with a listing date on the IDX on April 12, 2021.

The bond funds were used by the company to pay part of the debts of TBIG's subsidiary, namely PT Solu Sindo Kreasi Pratama (SKP).

Based on the company's financial reports, Tower Bersama recorded revenue of IDR 6.17 trillion throughout 2021. This revenue increased 15.99 percent from IDR 5.32 trillion at the end of 2020. Along with the increase in revenue, the company's cost of revenue also increased to IDR 1.47 trillion, from Rp. 1.09 trillion on an annual basis or year-on-year (yoy).

Despite the increase in expenses, the company's gross profit will also increase in 2021. TBIG posted a gross profit of IDR4.7 trillion, up 11.15 percent compared to the same period last year of IDR4.23 trillion.

The increase in the company's gross profit helped raise net profit attributable to owners of the parent entity to Rp1.54 trillion in 2021. This number increased by 53.42 percent compared to last year's Rp1 trillion.