This article first appeared in The Edge Financial Daily on October 12, 2017

KUALA LUMPUR: A consortium, comprising Ancom Bhd and three other firms, has bagged the advertising service concession for phase one of the mass rapid transit (MRT) in Jakarta.

In a filing with Bursa Malaysia, Ancom said the consortium submitted a tender for the project on June 20 through PT Avabanindo Perkasa.

Ancom announced the setting-up of the consortium in May with Avabanindo Perkasa and Puncak Berlian Sdn Bhd (Ancom’s indirect wholly-owned unit held through Redberry Sdn Bhd) as members along with PT Alternatif Media Group and Thailand-listed VGI Global Media PCL.

Ancom did not disclose Puncak Berlian’s shareholding size in the consortium, merely saying it is a substantial stake.

The group said the consortium’s success will spur its media division (Redberry Group) to further expand its media business into the Southeast Asian region.

The MRT Jakarta advertising concession is with an exclusive media advertising rights of 20 years. Ancom did not share how much the concession is worth, but said the bid is expected to have significant future earnings for its media division.

The MRT Jakarta’s main owner is the local Jakarta government.

The MRT’s phase one is expected to commence its commercial operations in March 2019. It features six underground and seven elevated stations and 16 six-car trains connecting key populated areas with Jakarta’s central business district.