Asean telecom tower owners draw investors on structural growth, stable cash flows 

TELECOM tower companies in South-east Asia are attracting investors in search of steady returns amid a volatile market. Such companies also appear well-positioned to benefit from increased mobile data usage and digitalisation in the region.

A Boston Consulting Group (BCG) report published in December 2022 found that telecom infrastructure companies generated an average annual three-year total shareholder return of 16 per cent – above the telco industry median of 9 per cent.

BCG managing director and partner Olivier Rival said tower companies (towercos) are generally stable businesses.