Ancom bags 20-year ad concession for Jakarta MRT project

PETALING JAYA: Ancom Bhd via its consortium partner PT Avabanindo Perkasa (PTAP) has been selected as the advertising service concession holder for the Jakarta Mass Rapid Transit (MRT) project.
On May 12, 2017, Ancom announced that its indirect wholly owned subsidiary Puncak Berlian Sdn Bhd had entered into a preliminary agreement with PT Alternatif Media Group, PTAP and Thailand’s VGI Global Media Public Company Ltd to establish an operational cooperation consortium in order to secure the tender of consulting services and the provision of advertising media with MRT Jakarta.
Members of the consortium are bound by a preliminary agreement entered into on May 11.
“The winning of the bid by the consortium is of commercial benefit for the media division of Ancom, i.e. Redberry Group, to further expand its media business into the Southeast Asian region.
The bid is expected to have significant future earnings to the media division of Ancom,” the board said.
MRT Jakarta Phase 1 will commence its commercial operation in March 2019.
Ancom’s shares fell 1.38% to close at 71.5 sen with some 396,700 shares traded.