JAKARTA (TheInsiderStories) - Telecommunication company owned by the Djarum Group, PT Sarana Menara Nusantara Tbk (IDX: TOWR), announced to distribute an interim dividend Rp6 per share or with total values Rp300.60 billion (US$21.31 million). During the first nine months of this year, the issuer posted a net profit of Rp1.91 trillion, rose 19.37 percent from the same period of 2019.
Most of dividends will received by the major shareholder, PT Sapta Adhikari Investama (52.82 percent), amounting to Rp158.77 billion. The remaining are public and individuals, including board of the directors. The dividend payment will be made on Dec. 21.
In the same period, Sarana Menara recorded an increase in revenue by 19.3 percent in annual basis, from Rp4.65 trillion to Rp5.55 trillion. According to the president director, Ferdinandus Aming Santoso, said the increased in the revenues and net profit supported by the additional leases 5,269 and 12,244 kilometers of fiber optic leases and.
As of Sept. 30, the operator have 38,615 tenants occupying, 21,373 towers, and 39,771 kilometers of fiber optic connections. Its tower tenancy ratio recorded 1.81 times from previous year 1.67 times. The management believed that the telecommunications infrastructure business plays an important role in Indonesia’ economic recovery after the COVID-19 pandemic. He estimates, 90 percent of Indonesians access the internet via handheld devices so that the need for cellular infrastructure can still grow.
Previously, Sarana Menara’ has completed the purchase of 1,642 towers belonging to PT XL Axiata Tbk (IDX: EXCL) for Base Transceiver Station (BTS) towers through its subsidiary, PT Profesional TelekomunikasI Indonesia (Protelindo). The company spent Rp2.21 trillion in this transaction.
The settlement of the sale and purchase transaction occurred last week after the unit of Malaysia’ Axiata Bhd had completed the transfer of its 11 towers to the buyer. The transaction is a series of XL Axiata’ tower sales program which have been carried out since Nov. 7, 2019 until July 1, 2020.
In 2019, the operator also completed the acquisition 100 percent of PT Komet Infra Nusantara (KIN) from PT Nusantara Infrastructure (IDX: META) and managed by Protelindo. Based on the sale and purchase agreement signed on March 23, 2018, META’ unit PT Telekom Infranusantara sold its 1.31 billion shares in KIN around Rp1.40 trillion.
Through this acquisition, Sarana Menara gets additional 1,400 towers spread across North Sumatra, Riau, Batam, most of Java and Bali. In addition, KIN also operates fiber optic cable network especially in Surabaya, Batam and Medan. This year, KIN’ sales is estimated to reach Rp325 billion with approximately 70 percent of revenues coming from PT Telekomunikasi Selular, XL Axiata and PT Indosat Ooreedo Tbk (IDX: ISAT).
Protelindo owns and operates over 14,500 towers in Indonesia. Its unit was established in January 2003 and has become the largest independent owner and operator of towers for wireless operators in Indonesia. The company’ primary business is leasing space at its multi-tenant tower for all major wireless operators in Indonesia under long-term lease agreements.
US$1: Rp14,100
Written by Editorial Staff, Email: theinsiderstories@gmail.com
