STOCK VALUATION OF PT. TOWER BERSAMA INFRASTRUCTURE, TBK

• Main Author: Andelane Riau, Dimas
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/37116
• Institution: Institut Teknologi Bandung

Tower industry in 2016-2017 in general has experienced growth as a result of the increasing numbers of towers being built. The acceleration of the number of the tower being built is affected by the celluler operator preference to rent rather than build and having their own tower due to expensive cost of fund. The organic growth of the tower companies should also remain robust as they continue to receive orders to build towers in response to the efforts of the leading Indonesian telecom companies to strengthen and expand their 4G/LTE networks A growing base of mobile phone users with an increase in affordability and demand for data in the region has lured global funds into the tower business. It also helped by central government infrastructure policy through its ministry, Kementerian Komunikasi & Informatika and its subsidiaries Balai Penyedia & Pengelola Pembiayaan Telekomunikasi dan Informatika (BP3TI). This is one of the government's efforts to overcome the information access gap, to strengthen information access in all 3T’s areas (terdepan, terluar, tertinggal) especially in frontier area. The main business of TBIG in tower industry consist of leasing space for antennas and other equipment for wireless signal transmission at tower sites under long term lease agreements. They also provide telecommunication operators with access to their Distributed Antenna System (DAS) networks in shopping malls and office buildings in major urban areas. As one of the leading independent tower companies in Indonesia, Tower Bersama Group currently had 20,486 tenancies on 12,610 sites with 6 different telecommunications operators and 2 WiMax providers. The company leases space on its tower sites under long-term lease agreements of generally 10 years and leases access to DAS Networks under long-term license agreements of generally 5 to 8 years (Annual Report, 2016). This final project final purpose is to analyze the financial performance of Tower Bersama Infrastructure and give suggestion to future financial performance, analyze the prospect of Tower Bersama Infrastructure by forecasting the share price, analyze the stock valuation of Tower Bersama Infrastructure compared with Sarana Menara Nusantara and Solusi Tunas Pratama, give the recommendations for investor whether to hold or sell the portfolio of Tower Bersama Infrastructure, give recommendation to Tower Bersama Infrastructure from management side. This research might analyze the competitors on tower industry such as PT Sarana Menara Nusantara Tbk and PT Solusi Tunas Pratama Tbk. All of these competition are limited to the financial report as stated from annual report year 2013 until 2017.