Established in 2003, PT Profesional Telekomunikasi Indonesia (Protelindo or the Company) is the leading independent owner and operator of towers for wireless communications companies in Indonesia. As of September 2022, Protelindo owned and operated approximately 29,708 telecommunication tower sites with more than 55,029 tenants in Indonesia, primarily in Sumatra, Java, Bali, Kalimantan and Sulawesi.
Protelindo’s primary business is leasing space on its multitenant tower sites to major wireless operators in Indonesia pursuant to long-term lease agreements. The leased space consists of vertical space on the tower, on which our customers is able to install both radio frequency antennas and microwave antennas, as well as ground space at each site for our their shelters and cabinets for electronic equipment and power supplies storages.
Our geographically diversified tower portfolio offers coverage across the entire Indonesia archipelago, and therefore strengthening our position as the preferred tower provider able to address the needs of national, regional, local and emerging wireless communication company operators.
Protelindo operates independently from the wireless communication operators and has a diversified customer base. Our key customers include the major telecommunications operators in Indonesia such as: PT Telekomunikasi Selular (Telkomsel), PT XL Axiata Tbk (XL Axiata), PT Indosat Tbk (Indosat), and PT Hutchison 3 Indonesia (H3I).
In October 2021, Protelindo has completed the acquisition of 94.03% shares of PT Solusi Tunas Pratama Tbk (“STP”). Protelindo being named the preferred bidder after approximately a 4 (four) month tender process and has entered into a Sale and Purchase Agreement dated 4 September 2021. The Acquisition has been carried out in compliance with provisions set out under Financial Services Authority Regulation
During 2020, during the early stages of the pandemic, Protelindo received an affirmation on the Standard & Poor's Corporate Credit Rating, namely BBB (with a stable outlook), an upgrade to the Fitch rating to BBB/AAA (with a stable outlook), and an affirmation on Moody's rating, which remained Baa3 ( with stable outlook)
(Status 3Q22 Investor Relation)
Given the critical role the telecom sector played in allowing life to continue under Covid restrictions and the sustained investments by the operators as a result, our business continued at a high level in 2021.
Ferdinandus Aming Santoso