Bursa Malaysia Stock Watch
Time dotCom (BUY) - Indonesian Venture
kltrader
Publish date: Mon, 05 Mar 2012, 10:08 PM
kltrader
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Time dotCom (BUY)
Indonesian Venture
- According to Bernama, GTL (TdC's potential acquiree)has entered into an agreement with PT PGAS Telekominikasi Nusantara to providecompetitive and reliable bandwidth connectivity to South-East Asia's most populous country.
- GTL CEO shared that 10% of Indonesia'scommunication demand is equivalent to 70% of Malaysia's total demand.
- The partnership would bring a total capacity of160Gbps to Indonesia,capable in meeting the demand for high quality data communication requirements.
- With this partnership, Indonesiawill be the new addition to its existing Points of Presence portfolio of Malaysia, Hong Kongand US.
- Comments: Weacknowledge this news as a very positive milestone in TdC's regional expansionplan, by tapping into one of the market with highest growth (over 30%) in theregion on the back of low mobile and internet penetration rates of 62.7% and1.1% respectively.
- Maintain our BUY call with unchanged SOP target priceof RM0.85. If DiGi current share price is considered rather than our TP, SOPwould be enhanced by 11 sen.
Source: HLIB Research 5 March 2012
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