PT Solusi Tunas Pratama Tbk. (STP) was founded in 2006, and is now one of the leading independent tower companies in Indonesia. STP’s core business initially focused on leasing out spaces for antennas and supporting equipment at its multi-tenant tower sites for Indonesian mobile telecommunication operators for base transceiver station (BTS) under long-term lease agreement with average contractual term of 10 years. STP operates telecommunications tower assets in 34 provinces in Indonesia, where 85% of STP’s telecommunications tower sites are in Java and Sumatra, two islands with the highest population density in Indonesia.
In October 2021, STP is officially acquired by PT Professional Telekomunikasi Indonesia (Protelindo) which is a subsidiary of PT Sarana Menara Nusantara Tbk. As such, we believe that STP will have a stronger foundation to become a reliable entity for its customers and stakeholders.
As of 31 December 2021, STP owned and operated 6.949 tower with 12.846 tenancies, for a tenancy ratio of 1.85x.