Tower Bersama Growing Well But Share Looks Overdone

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Besides mobile operators, domestic telecoms infrastructure firms are also benefiting from the Indonesian consumer growth story, in addition to the government regulation that prevents foreign participation and competition. BMI previously highlighted Tower Bersama Infrastructure Group (TPIG) as one of the potential outperformers and this has played out nicely with the company reporting a 44% year-on-year(y-o-y) increase in its Q112 revenue.