EXCL - To further expand in Kalimantan

XL Axiata (EXCL) opts to expand its network capabilities in Kalimantan in line with higher demand in the area. EXCL recorded a 29% increase in data traffic in Kalimantan, while the company managed to add around 1,100 BTS in the island, or 42% yoy increase. As of today, EXCL has covered 55 cities/regencies in Kalimantan with 9,800 BTS. (Source : Eminten News) Comment: We appreciate EXCL’s ex-Java expansion plan as it seeks to further penetrate market with customer addition. As We think the competition in ex-Java is more eased than those in Java, Kalimantan will provide a perfect venue of new growth amid vernment’s plan to develop new capital (IKN) as its long term focus.