KUCHING: Telekom Malaysia Bhd (TM) has sold 64 of its landed telecommunication towers in Sarawak to Sacofa Sdn Bhd, and leased them back.
Sacofa, a majority Sarawak government-owned company which has the exclusive rights to build, own and operate all telecommunication towers in the state, paid RM11mil cash for part settlement of the acquisition.
The balance will be paid by contra deal through the lease of the towers.
TM chief executive officer (Malaysia Business) Zamzamzairani Mohd Isa and Scofa acting chairman Samat Junai signed the acquisition agreement witnessed by Sarawak Public Utilities Minister Datuk Awang Tengah Ali Hassan at Kuching Hitlon on Monday.
Scofa CEO Abang Jemat Abang Bujang said the company would soon buy another 39 TM telecommuinication towers, which would be made available to other telecommunication firms, broadcasters and other service providers via the sharing of common infrastructure concept.
``Sacofa is also discussing the acquisition of 100 more telecommunication towers from the other telcos, including Maxis, Digi and Celcom.We expect to complete the acquisition before the end of this year,'' he added.
Jemat said Sacofa was planning to build 142 new telecommunication towers to increase the number of such towers to over 400 by this December.
He said Sacofa had also built an extensive fibre optic network in Sarawak, stretching more than 2,000km from Kuching to Miri, and with existing capacity of 2.5 Gbps bandwidth.