ASEAN (Indo) & China-focused. Ex-Deputy HoR UBS.

Johannes Salim, CFA

Equity Bottom-Up

Sarana Menara Nusantara / Equity Bottom-Up

<ul><li>The IR of <a href="https://www.smartkarma.com/entities/6848" target="_blank" data-smartkarma-citation="entities:6848:1">Sarana Menara Nusantara Pt (TOWR IJ)</a> lays out a bullish case on telecom tower demand, thanks to surging data demand/smartphone boom.</li><li>The sale process at rival <a href="https://www.smartkarma.com/entities/422" target="_blank" data-smartkarma-citation="entities:422:1">Solusi Tunas Pratama Tbk Pt (SUPR IJ)</a> is proceeding.</li><li>Djarum Group's ownership is a big positive given the Group's good corporate governance track record.</li><li>Next six months, being a potential acquirer with significant debt headroom, TOWR is an event driven play.</li></ul>

The IR of Sarana Menara Nusantara Pt (TOWR IJ) lays out a bullish case on telecom tower demand, thanks to surging data demand/smartphone boom.The sale process at rival Solusi Tunas Pratama Tbk Pt (SUPR IJ) is proceeding.Djarum Group's ownership is a big positive given the Group's good corporate governance track record.Next six months, being a potential acquirer with significant debt headroom, TOWR is an event driven play.

Sarana Menara Nusantara

Sarana Menara Nusantara: M&A at Play?