New Street: Tower Bersama (Buy, IDR3,900, +65%) Q3 2022 Quick Take: Slower quarter as expected
Tower Bersama has reported a slower set of Q3 results as expected. Trends were impacted by the expiration of the 2012 USD contract with IOH as well as the one off discontinuation of Sampoerna Telecom’s tenancies that happened at the beginning of the year. Operationally the outlook still seems strong for Tower Bersama.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.
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