JAKARTA – PT XL Axiata Tbk (EXCL), a telecommunication provider, secures fresh funds of IDR 42.54 billion from leasing 110 tower sites to PT Editco Infrastruktur Indonesia (EII).
In the information disclosure quoted Monday (4/7), leased objects in question are said to consist of 105 land sites and 5 sites on top of building rooftops spread across 24 provinces in Indonesia. The land sites are leased for 10 years with a price fixed at IDR 4.25 billion per annum.
Both companies, EXCL and EII, are affiliated under the same business group, Axiata Group Berhad (AGB), as Edotco Group Sdn Bhd, the controlling shareholders of EII, is owned by AGB. EXCL records an authorised capital of IDR 2.26 trillion as well as issued and paid-up capital of IDR 1.07 trillion. On the other hand, EII has an authorised capital of IDR 40 billion and issued and paid-up capital of IDR 10 billion.
Interestingly, these land sites leased by EXCL are formerly owned by EII. EII divested those assets in the sale and purchase agreement and leasing agreement dated February 25, 2022. (LK/ZH)