Malaysia's Ancom Bags MRT Jakarta Advertising Concession

KUALA LUMPUR, Oct 12 (Bernama) – Ancom Bhd has been selected as the advertising service concession holder to provide advertising services for the mass rapid transit in Jakarta (MRT Jakarta) phase one stations. The advertising concession, which comes with an exclusive media advertising rights for 20 years, was secured through PT Avabanindo Perkasa (PTAP), Ancom said in a filing to Bursa Malaysia Wednesday. In May this year, Ancom’s indirect wholly-owned subsidiary, Puncak Berlian Sdn Bhd (PBSB) through Redberry Sdn Bhd had establish an operational cooperation consortium with PT Alternatif Media Group, PTAP and Thailand's VGI Global Media Public Company Limited in order to secure the tender of consulting services and provision of advertising media for MRT Jakarta. PBSB holds a substantial stake in the consortium that won this award. “The tender win by the consortium is of commercial benefits to Ancom's media division, namely Redberry Group, in further expanding its media business into the Southeast Asia region. “This is expected to contribute significant future earnings to our media division,” it added. MRT Jakarta Phase One is expected commence commercial operations in March 2019. – BERNAMA