Indosat unveils USD590m spending plan for next year

4 Dec 2009

Indonesia’s second largest telecoms group by subscribers and revenues, publicly-listed PT Indosat, says it plans to invest IDR5.5 trillion (USD590 million) in capital expenditure projects in 2010, down from this year’s spending target of IDR6 trillion. The monies will be used to deploy around 1,950 additional base transceiver stations (BTSs) across the country, Indosat president Harry Sasongko is quoted as saying. A combination of internal and external funds will be used to finance the investment. Indosat is offering bonds valued at approximately IDR1.5 trillion (including IDR200 billion-worth of sharia bonds), to be listed on the Indonesian Stock Exchange next week. According to local newspaper the Investor Daily, the company’s bond offer is over-subscribed.

Indonesia, Indosat Ooredoo (incl. IM2)