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GLOBAL MEDIACOM INCREASES ITS STAKES IN MNC SKY VISION PDF Print E-mail

Jakarta, Indonesia - June 16th, 2010

 

On June 2nd, 2010, PT Global Mediacom Tbk (“Mediacom”) has converted the mandatory exchangeable bonds into 1,525,268,700 shares of PT MNC Sky Vision (“MNC SV”). The bond conversion have enlarged Mediacom`s ownership in MNC SV from 51% to 75.54%.

 

MNC SV is the largest satellite DTH (Direct To Home) pay TV operator in Indonesia with 78%  market share and combined subscribers of close to 700,000 (excluding SMA TV subscribers).  MNC SV offers Indovision which caters to the middle upper class segment with 67% market share and Top TV which caters to the middle lower class segment with 11% market share. DTH satellite is the dominant pay tv platform in Indonesia with 90% market share and the balance is held by other platforms such as cable. DTH satellite is the best platform in Indonesia to effectively provide comprehensive coverage across the archipelago to Indonesia’s over 13,700 islands.

Indonesia's pay TV industry has vast potential for growth with the current pay TV penetration rate of below 3% and a growing economy with per capita income of USD3,000.  In 2009, Indonesia had the third highest economic growth after China and India.  The affordability of pay TV will increase in line with higher economic growth and higher per capita income.  Media Partners Asia has projected Indonesia to have the highest pay TV subscriber growth in the Asia Pacific of 33% CAGR (2008-2013).

For FY2010, MNC SV is projected to generate an EBITDA of close to USD 70 mn and an EBITDA margin of 42%. While, Mediacom’s consolidated EBITDA is expected to be about USD 225 mn in FY2010 of which 31% will be derived from MNC SV. The projected performance will be a substantial increase from the 28% contribution of MNC SV to Mediacom’s consolidated EBITDA of USD 123mn in FY 2009.

 

For more information, please contact:

 Investor Relations:                                      PT Media Nusantara Citra Tbk    

Robert Satrya                                            MNC Tower, 27th floor This email address is being protected from spam bots, you need Javascript enabled to view it                   Jl. Kebon Sirih Kav 17-19                                                                            Jakarta 10340

William W. Utama                                      Phone: 62-21 3900885 This email address is being protected from spam bots, you need Javascript enabled to view it                    Fax  : 62-21 3920109

                                                                                               


 
 
 


 
  
 
 
 
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On June 2nd, 2010, PT Global Mediacom Tbk (“Mediacom”) has converted the mandatory exchangeable bonds into 1,525,268,700 shares of PT MNC Sky Vision (“MNC SV”). The bond conversion have enlarged Mediacom`s ownership in MNC SV from 51% to 75.54%.

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