KBLV - PT. First Media Tbk

Rp 368

+2 (+0,54%)

JAKARTA - Singapore Telecommunications Ltd (Singtel), a telecommunications company owned by the Government of Singapore, has filed a default lawsuit against PT Lynx Mitra Asia, a subsidiary of PT First Media Tbk (KBLV).

According to the case information system at Central Jakarta District Court, the lawsuit was filed on Wednesday (3/2) yesterday. In the lawsuit petitum, Singtel asked the panel of judges to accept and grant all claims.

According to data, compiled by idnfinancials.com, the lawsuit is related to the STiX (Singtel Internet Exchange) provision agreement between Singtel and KBLV. This agreement was renewed and tied back on February 29, 2016.

Lynx Mitra Asia is a company owned by KBLV through PT Graha Investama Andalan Terpadu (GIAT). Total assets of Lynx Mitra Asia were recorded at IDR 18.38 billion by September 30, 2020.

Meanwhile, SingTel already has business relations with a number of telecommunication companies in Indonesia. This company, which has total assets of SGD 48.96 billion (by September 2020), also owns 35% of PT Telekomunikasi Selular (Telkomsel), a subsidiary of PT Telekomunikasi Indonesia (Persero) Tbk (TLKM). (KR/VA)