Mitratel Acquisition Persada Sokka Tama
Telekomunikasi Indonesia (Persero), Tbk (TLKM IJ) through its subsidiary Dayamitra Telekomunikasi (Mitratel) had signed shares sale and purchase agreement by shareholders of Persada Sokka Tama (PST), on 6 March 2019. PST is a company engaged in telecommunications tower business currently has 1,017 towers scattered in some areas in Indonesia. “Mitratel will have 95% of the PST. In addition, for a period of at least 24 months after the agreement, Mitratel will purchase the remaining shares worth 5%,”said Dewi, POH Vice President Investor Relations TLKM in public information, Friday (8/3).
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In the next step, Mitratel will have 100% or 99.99% of all shares of the PST after a whole series of transaction completion. Shares of the PST is done to strengthen business Mitratel who move in the field of telecommunications towers. “The impact of the transaction, Mitratel became the majority shareholder of the PST, “she added.
Earlier this year, the telecommunications sector stocks showed positive movement. Recorded some stocks drove in the green zone as the shares of Indosat, Tbk (ISAT IJ), Telekomunikasi Indonesia (Persero), Tbk (TLKM IJ), XL Axiata, Tbk (EXCL IJ) and Smartfren Telecom Tbk (FREN). For the record, FREN in stocks earlier this year continued to ride for sure. These issuers share price, owned by Sinarmas Group, is already rising to 171.79% since the beginning of the year to level IDR212 per share until Wednesday (06/02). In the same period, the share price EXCL has gone up 11.11%, and ISAT share price 108.90%. Meanwhile, TLKM share prices rose 2.40% from the beginning of the year up to Wednesday (6/1).
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Dimas Yusuf, Investment Specialist Sucor Asset Management said, telecommunications sector in general will still continue to grow. Reflected in the implementation of the 4G network that has not been the fullest potential and the presence of a network of 5G. Earlier, FREN informed that the target user population can reach 20 million by the end of 2018. These target number of Smartfren Telecom customers rose 33.33% from the previous year. In 2017, Smartfren Telecom is targeting 15 million customers.
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While ISAT still focus develop network at 4,300 points. To do so, Indosat has set up capital spending of IDR10Trn. “The coverage will also grow because there are still many areas that are not yet coverage. Some stock move is quite interesting. The issue of consolidation becomes a factor because it’s so one to be able to compete with the market leader in this sector, “said Dimas when encountered in Indonesia Stock Exchange (IDX) building, Thursday (7/2).
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On the other hand, Dimas added, the telecommunications sector shares generally haven’t been too are recommended. But from stock fundamentals, TLKM still of interest. “The others could probably wait and see until there is action and corporate reports, “said Dimas. According to him, the price of long-term TLKM can penetrate to the IDR5,000 per share because it is space growth in the industry is still very large.
Muhammad Nafan Aji, Binaartha Sekuritas analyst said, the stock price gain of telecommunications company can be caused from the high demand for data services in Indonesia. Technical basis, he recommends hold the stock with a target price of ISAT short-term to medium level of IDR3,750 per share. “Also hold the stock with a target price of FREN mid-term IDR249 per share. Its stock price movements have been very bullish, “said Nafan.
