Kejuruteraan Asastera Bhd (KAB) has signed a trilateral memorandum of understanding (MoU) with the Philippines-based LCS Holdings Incorporated and Malaysia-based ATS Venture Group Sdn Bhd to build and operate a telecommunication tower project in the Philippines.
According to the terms of the MoU, KAB will lead the financial arrangements while ATS will serve as the project’s key technical partner. LCS will be responsible for identifying and acquiring local sites, as well as engaging with end clients and authorities. KAB and ATS will be the preferred vendors for procurements of associated products for this project.
Upon completion, the telecommunication towers will be leased to Philippines-based Dito Telecommunity Corporation for a period of 15 years, with an option for an additional 10 year extension. The project is estimated to generate RM15 million in revenue annually and also generate a profit of around RM3 million per year.