On 7 April 2021, the asset sale transaction of 3,000 telecommunication towers own by the Company to TB (“Sale Transaction”) was completed. The Sale Transaction has been approved by the shareholders through the Extraordinary General Meeting of Shareholders which was held on 30 March 2021.
To strengthen the Company’s financial position and grows its future business strategy, on 21 December 2020, the Company signed a Conditional Asset Sales and Purchase Agreement with PT Tower Bersama (“TB”) – a subsidiary of PT Tower Bersama Infrastructure Tbk (“TBIG”). The agreement was made related to the Company’s plan to sell a maximum of 3,000 telecommunication towers, of its own, including the lease of the lands owned by the Company related to the telecommunication towers to be sold.
The Company keeps on enhancing its operational performance through technology innovation and commitment of excellent services for customer satisfaction. The resulted in a reward of “Asia’s Most Trusted Company Awards 2019” in “Asia’s Most Trusted Telecom Tower Solutions & Services Company Category from Indonesia Region” category from the International Brand Consulting Corporation, United States.
The company recorded a growth of nearly 1,000 new towers and completed the construction of more than 6,000 km of national-scale fiber optic network, including connectivity in cities with 10Gb capacity in several cities in Indonesia, especially Jakarta, Medan, and Makassar.
On November 30, 2017, the Company and PT Sampoerna Telekomunikasi Indonesia (“STI”) entered into an Asset purchase agreement, under which the Company agrees to purchase and acquire 371 telecommunications towers of the latter.
On 25 July 2016, the Minister of Communications and Information Technology of the Republic of Indonesia announced a consortium whose members are Moratelindo- IBS- Smart Telecom as the winner of a tender to build the eastern section of the Palapa Ring national fiber optic cable network project, where the consortium was obliged to establish a joint operating company to implement the public-private partnership project.
On 16 August 2016, the Company, together with PT Mora Telematika Indonesia and PT Smart Telecom agreed to sign Deed No.83 on the establishment of PT Palapa Timur Telematika, the joint operating company for project implementation, drawn up before I Nyoman Satria Wijaya, S.H., M.Kn., a Notary in the regency of Tangerang.
The Company recorded the growth of 453 new towers and completed the development of nationwide fiber optic network infrastructure which has reached 4,278 km to support the implementation of 4G LTE project. Company.
The Company performed Limited Public Offering I (“PUT I”) for the issuance of Preemptive Rights (“HMETD”) of 207,831,527 shares with par value of Rp500 per share, and offering price of Rp3,176 per share with the total of Rp660,072,929,752,-. Each 11 old shares have 2 HMETD, in which 1 HMETD have the right to purchase 1 new share.
A tipping point, it span off its in-building business and began focusing on the highly lucrative tower business to maximize revenues and profits. With total towers reaching 1,992, IBS conducted its Initial Public Offering (IPO) on 31 August 2012.
Its in-building services grew to 90 sites, but the tower sites grew seventeen-fold to 1,989, instantly earning it a significant presence in the market.
It increased its in-building services to 60 sites and began its foray into the tower business by acquiring 114 towers.
It began its operation with a portfolio of in-building services on 10 sites.
The Company was established as an in-building system solution provider.