Independent tower operator PT Tower Bersama Infrastructure (TBIG) Tbk booked net profit of Rp1.25 trillion last year, expanded by 48% from 2012. It represents a net profit margin (NPM) of 46%, almost ten times XL Axiata. The profit also represents return on equity (ROE) of 30.3%, almost five times XL Axiata’s 6.8% last year.

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