XL unveils USD700m investment for 2009

20 Nov 2008

Indonesian mobile operator PT Excelcomindo (XL) has revealed it plans to invest USD700 million in its networks and services in 2009, Antara News reports. According to the company’s Hasnul Suhaimi the funding will be provided from loans and through internal resources, and XL reportedly has no intention of issuing bonds to raise funds ‘under present conditions’. Hasnul is quoted as saying that the monies will be used to expand network capacity by building new base transceiver stations (BTSs) across the country. This year the 83.83% Telekom Malaysia-owned subsidiary has set its CAPEX level at USD1.2 billion.

Indonesia, XL Axiata