KUALA LUMPUR: Axiata Group Bhd
will finalise the listing exercise of its telecommunications tower company edotco Group Sdn Bhd in the next 12 to 18 months.
Its head of investor relations Clare Chin Kit Ching said on Wednesday it would most likely be a local listing, but this was subject to a final decision.
Currently, edotco manages and owns 16,000 towers across Asean, which raked in annual revenue of about RM1.2bil last year with average tenancy ratio of about 1.5 times.
"So far, they (edotco) has done a good job of improving cost efficiency across the group by saving two to three percentage points in revenue in terms of land and rental costs," Chin said at the Invest Malaysia 2016.
She added Axiata was in the process of adding new units into the edotco group so the revenue could be compared on a year-on-year basis.
In terms of growth, Chin projected edotco could chart a high single digit figure for its new unit in Nepal, Ncell Pte Ltd, in an acquisition deal that was finalised on Tuesday.
Through its unit Axiata Investments UK Ltd, the telco completed the acquisition from TeliaSonera UTA Holdings B.V. and Sea Telcom Investments B.V. of Reynolds Holdings Ltd for US$1.365bil for an 80% controlling stake in Ncell.
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