edotco Group’s CEO Adlan Tajudin (second from the left) and Touch Group’s Director Y.M Tengku Dato’ Muhd Mazlan (second from the right) showing the signed agreement, witnessed by edotco Malaysia’s Managing Director Wan Zainal Adileen (left), Axiata’s Managing Director/President & Group Chief Executive Officer Dato’ Izzaddin Idris (third from the left), Touch Group’s Chairman Y.M Raja Dato’ Mufik Affandi (third from the right) and Touch Group’s Managing Director Dato’ Azman Omar (right).

KUALA LUMPUR, 30 November 2021 – edotco Group Sdn Bhd (“edotco”) through edotco Malaysia Sdn Bhd (“edotco Malaysia”) announced it has entered into a conditional Share Sale Agreement (“SSA”) with Touch Group Holdings Sdn Bhd (“TGHSB”) to acquire 100% of its subsidiary, Touch Mindscape Sdn Bhd (“Touch Mindscape”), and its subsidiary companies (collectively, “TMs Group”). The SSA for the entire shares of Touch Mindscape is for a total purchase consideration of RM1.7 billion.

The proposed acquisition strengthens edotco’s aspiration to be the Top 5 towerco in the world and cements its home market leadership position as the largest independent tower company in Malaysia. This transaction enables edotco to increase its tower market share from approximately 21% to 25%.

edotco Malaysia Managing Director Wan Zainal Adileen said, “The proposed acquisition strategically adds a portfolio of approximately 1,000 tenanted towers to edotco’s operations in Malaysia, where we are already providing co-location to major mobile network operators in the country. This opportunity expands edotco’s existing presence by significantly scaling up our tower portfolio in the three states of Pahang, Negeri Sembilan and Melaka with very limited overlap. The towers in these states come at very high co-location ratios of 3x (Melaka), 3.6x (Negeri Sembilan), and 2.4x (Pahang). The Touch Mindscape tower portfolio also includes towers in key strategic locations of Kuala Lumpur, Putrajaya, Perak and Kedah. More importantly, this proposed acquisition enhances edotco’s capability and capacity to support the wider provision and improvement of connectivity to the public for the development of the socio-economy of Malaysia.”

The proposed acquisition also allows edotco to secure a strategic fibre network, which is crucial to further future-proofing the telecommunication infrastructure portfolio.

The acquisition is scheduled to be completed by the end of this year upon the conditions precedents in the SSA being fulfilled. Upon completion, it will grow edotco’s owned and managed portfolio of towers to over 43,000 towers across core markets of Malaysia, Bangladesh, Pakistan, Sri Lanka, Cambodia, Myanmar, Philippines and Laos.