Dataprep among top actives after inking deal for Bandung telco infra project

TheEdge Fri, Feb 09, 2024 01:06pm - 2 months View Original

KUALA LUMPUR (Feb 9): Dataprep Holdings Bhd emerged as among Bursa Malaysia’s most active counters on Friday, following its announcement of a 30-year concession agreement to develop and maintain passive telecommunication infrastructure in Bandung, Indonesia through its local unit.

The counter registered a daily volume of 31.13 million shares, four times higher than its two-month average trading volume of 7.79 million.

The stock rose as much as three sen or 23%, hitting an intra-day high of 16 sen, before paring gains to 15 sen at market close, still up two sen or 15.4%, valuing the group at RM110.7 million.

On Thursday (Feb 8), Dataprep announced that its Indonesian unit PT Dataprep Teknologi Indonesia Tbk (DTI) had inked an agreement with PT Bandung Infra Investama (Perseroda) Tbk for the concession.

This follows its January announcement that DTI had been selected as the lead consortium member to construct the infrastructure.

“The estimated investment for the next three years of development period is approximately 313 billion Indonesian rupiah (around RM95.4 million),” the company said.

As at end-September, the loss-making digital services company was in a net-cash position, with cash of RM14.81 million against total borrowings of RM4.71 million.

For the nine months ended Sept 30, 2023, Dataprep reported a bigger net loss of RM14.69 million, compared with RM9.54 million in the previous corresponding period.

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