- Iforte to acquire 90.11% of IBST
Iforte Solusi Infotek (iForte) will acquire 90.11% of Inti Bangun Sejahtera (IBST), controlled by Bakti Taruna Sejati (BTS). Iforte is known to be a subsidiary of Protelindo, a subsidiary of Sarana Menara Nusantara (TOWR). The management of iForte mentioned that the acquisition of BTS’s portion in IBST was done through a tender process won by Protelindo, iForte’s parent entity. (IDN Financial)
What we think: IBST had 3,234 towers with 1,82 colocation ratio as of Dec 23, or around 10% of TOWR’s number of towers, which were 30,558. The acquisition marks the consolidation in the tower industry, in which the 3 largest towers, TOWR, MTEL, and TBIG, dominated the sector. - WINE distributes IDR 6.3B dividends
Hatten Wine (WINE) decided to distribute an IDR 2.35 dividend per share amounting to IDR 6.38B. The dividend is from FY23 net profit of IDR 42.5B (+99% yoy). The remainder of IDR 6.78B of the profit will be set aside as capital reserves, and IDR 29.3B will be used for the Company’s working capital and recorded as retained earnings. (IDX Channel)
What we think: The dividend payout ratio is 15% of last year’s net profit. Based on the last closing price of IDR 310, WINE’s dividend yield is 0.76%.