JAKARTA. PT Sarana Menara Nusantara Tbk (TOWR), along with its subsidiary PT Profesional Telekomunikasi Indonesia (Protelindo), has established a new subsidiary called PT Profesional Menara Permata.
In an information disclosure on Friday (23/8), TOWR Corporate Secretary Irfan Ghazali said that the new subsidiary engages in telecommunication centre construction.
The transaction, said Mr Ghazali, is an affiliate transaction exempted in accordance with clause 2 letter B point 5 of Regulation IX.E.1. Protelindo, which is 99.99% owned by TOWR, owns 249 shares in Profesional Menara Permata valued at Rp 249 million, while TOWR owns one share valued at Rp 1 million.
"This transaction is expected to support Protelindo's business, which will positively impact the company as a whole," Mr Ghazali said. (AM/MS)