PT Tower Bersama Infrastructure (TBIG), one of the nation’s largest telecommunications tower operators, says it will tap a US$1.125 billion loan facility to finance capital expenditures in 2013. Helmi Yusman Santoso, TBIG finance director, said that the firm was far from exhausting an existing $2 billion loan facility that had no time limits. “We have so far issued around $875 million, leaving us with a remainder of $1.125 billion.” “We will not be spending all these funds this year, because we will only take what we need as capital expenditures,” he told The Jakarta Post.
Helmi said the company had yet to determine its capital expenditures for the year, which would be based on orders received from telecommunication operators. He was optimistic on the firm’s prospects for 2013, as operators continued to expand. “Operators are continuously rolling out capital expenditures, portions of which will go to improving network capacity and coverage.” PT Indosat, which sold off 2,500 of its towers to TBIG in August, previously announced it would allocate $800 million in capital expenditures, a majority of which would go to networks. Indosat owns a 5 percent stake in TBIG.
Other shareholders are PT Wahana Anugerah Sejahtera (24.91 percent), PT Provident Capital Indonesia (23.41 percent), PT Saratoga Infrastructure (12.76 percent) and the general public (32.47 percent). Helmi said that this year’s revenues would depend on the number of orders from operators. “We build towers after receiving orders because we have never involved ourselves in speculative building.” TBIG booked notable revenue growth last year, according to its latest 2012 full year financial statement, reporting revenues of Rp 1.71 trillion ($176 million) as of the end of December, up 77 percent from Rp 970.02 billion in the same period in 2011.
The revenue spurt is nearly double the 44.6 percent increase booked between 2010 and 2011. Strong top-line growth pulled up the company’s bottom line figures as well, with all pointers exhibiting beyond 60 percent growth. Profits before taxes were up 78 percent year-on-year to Rp 913.24 billion, while net profits surged by 88.3 percent to Rp 927.41 billion. The company attributed the upward climb to more tower tenants. “Throughout 2012, we have managed to gain an additional 6,706 tenants, coming equally from our own organic growth and the acquisition of towers from Indosat in August” Hardi Wijaya Liong, the CEO of TBIG, said.
The additional tenants brought the firm’s total tenant number to 13,708. Hardi added that the company, owned 8,439 telecommunication sites as of December, up 73 percent from the end of 2011. The company also closed 2012 owning 7,055 telecommunication towers, 1,040 shelters and 344 distributed antennae system (DAS). An influx of tenants hiked up the firm’s co-location ratio — or the number of tenants per tower — to 1.75 as of December, up from 1.63 in the previous year. Helmi said the company would pay off Rp 855 billion in debt this year. TBIG previously announced plans to issue $500 million in notes in the next few months to refinance debts. These notes are expected to carry a interest rate of 8 percent annually and to mature in 2018.
source : the jakarta post
source : the jakarta post
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