Smartfren Builds 700 BTS by August

JAKARTA (Yosefardi) – PT Smartfren Telecom Tbk (FREN) has built 700 new base transceiver station (BTS) in January-August 2013 period, almost a half of this year target of 1,500 BTS.

The investment for BTS is expected to reach Rp700 billion, or Rp1 billion for one BTS.

The company has obtained loan of US$490 million from 2 foreign financial institutions – China Development Bank and First Anglo Financial Pte Ltd. FREN has used US$260 million loan form its business operation and expansion.

At 10.35 am Jakarta time, FREN fell 1.6% to Rp61 per share with over 2 million shares exchanged hands.