PT. Sarana Manara Nusantara ("TOWR") recorded 2,860 additional lease orders through the end of August 2018. A total of approximately 1,700 of the additional lease orders were completed and operational as of the end of August with the remaining lease orders scheduled to become operational in the second half of 2018. The new business in the first half of 2018 is a continuation of the strong demand the Company experienced in 2017. "We expect to see additional incremental orders in the second half of 2018 as operators continue to expand coverage outside of Java and improve capacity within Java," commented Mr. Aming Santoso, President Director and CEO of TOWR.
"The last two years have been among our best performing years for organic and M&A growth since the company went public in 2010," added Mr. Santoso, "We are Looking forward to continue working with our partners in meeting their telecommunications infrastructure needs in a rapidly growing and dynamic market."
Total additional lease orders through August are broken down as 1,626 Build to Suit (“BTS”) orders and 1,234 colocation orders. "The additional lease orders are for PT. Protelindo and include lease orders from our newly acquired subsidiary, KIN and iForte" stated Mr. Adam Gifari, Vice President Director of TOWR, "The new BTS leases are mostly outside of Java and expand the Company's nationwide reach while the new colocation orders add to the efficiency of our existing tower base."
As of August 2018 TOWR has a total of nearly 28,000 leases with all major operators in Indonesia.