Report

New Street: Indonesian Telcos and Towers: Feedback from company calls; bullish for Towers.

We hosted calls with the main Indonesian telcos and towercos. Towercos were much more positive than telcos.
Underlyings
Indosat

PT Indosat is an Indonesian telecommunications network and service provider. Co.'s principal products and services include Cellular services in which Co. provides Global System for Mobile Communications 900 and 1800 cellular services; Fixed telecommunications services in which Co. provides international long-distance services in Indonesia; and MIDI services in which Co. provides broadband and narrowband fixed data services, including frame relay services, Very Small Aperture Terminal services, leased circuits and Internet services, through Lintasarta, PT Indosat Mega Media to corporate and retail customers and wholesalers.

PT Telkom Indonesia (Persero) Tbk Class B

P.T. Telekomunikasi Indonesia is a telecommunication service and network provision group based in Indonesia. Co. serves millions of customers throughout Indonesia with a complete range of telecommunications services that include fixed wireline and fixed wireless telephone connections, cellular services, network and interconnection services, as well as internet and data communication services. Co. also provides services in information, media and edutainment, including cloud-based and server-based managed services, e-Payment and IT enabler services, Pay TV, as well as e-Commerce and other portal services. Co. operations are organzied along four segments: Corporate, Home, Personal and others.

PT Tower Bersama Infrastructure Tbk

PT Tower Bersama Infrastructure is engaged in leasing space for antennas and other equipment for wireless signal transmission at tower sites and shelter-only sites under long-term lease agreements with telecommunication operators. Co. also provides telecommunication operators with access to its Distributed Antennae System (DAS) networks in shopping malls and office buildings in major urban areas. As of Dec 31 2014, Co. had 11,820 telecommunication sites, which comprised of 10,825 telecommunication towers, 941 shelter-only sites, and 54 DAS networks.

PT XL Axiata Tbk

PT XL Axiata Tbk is a cellular provider in Indonesia. Co. maintains its extensive network infrastructure and services around the country. Co. provides services for retail customers and offers business solutions to corporate customers. Co.'s cellular network runs on 'GSM 900/DCS 1800' and 'IMT-2000/3G' technologies. Co. also holds several licenses, including closed regular network (leased line), Internet service provider (ISP), Voice over Internet protocol (VoIP), and Internet interconnection services (NAP). Co. has obtained an e-Money (electronic money) license from Bank Indonesia, the country's central bank, which enables Co. to provide remittance services to subscribers.

Telekomunikasi Indonesia Tbk PT (ADR)

Provider
New Street Research
New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

  • Pan European Telecom Services and Cable
  • US Telecoms, Cable, Satellite and Towers
  • Global Emerging Market Telecoms
  • Japan Telecoms
  • Asian Internet
  • Pan European Healthcare
  • Global healthcare thematic research

We provide debt research on:

  • Pan European Telecom Services and Cable


Analysts
Chris Hoare

Other Reports on these Companies
Other Reports from New Street Research

ResearchPool Subscriptions

Get the most out of your insights

Get in touch