Alamy/Justin Lee via Reuters
Southeast Asian mobile phone tower company EdgePoint Infrastructure plans to add at least 5,000 towers in the next two to three years.
The Singapore-based company, backed by the Abu Dhabi Investment Authority (Adia), is planning to expand in Indonesia, Malaysia and the Philippines, where it already has a presence, and enter new markets such as Thailand and Vietnam, its chief executive and co-founder Suresh Sidhu said.
“They’re large countries, lots of population, very similar dynamics to Malaysia, Indonesia, Philippines, young populations, fast growth in data, tech, that sort of sector as well,” Sidhu told Reuters, referring to Thailand and Vietnam.
EdgePoint has more than 15,600 towers in Indonesia, Malaysia and the Philippines.
The demand for new towers is driven by the expansion of 5G services and data consumption in Southeast Asia.
Adia acquired a significant minority stake in EdgePoint in 2021 when it committed to investing up to $500 million in the company to support its future growth.
As well as Adia, EdgePoint is backed by Florida-based DigitalBridge and the World Bank Group’s private investment arm, International Finance Corporation.
