JAKARTA - PT Smart Telecom (Smartel), a subsidiary of PT Smartfren Telecom Tbk (FREN) has injected a capital investment of IDR 360 billion in PT Mora Telekomunikasi (Moratel). With this capital disbursement, Smartel's ownership is 20.5% of the fully paid-up capital in Moratel.
James Wawengkang, Corporate Secretary of PT Smartfren Telecom Tbk (FREN) said that the investment in Moratel is expected to build a synergy between SMART, Smartel, and Moratel to support the company's performance and business continuity.
As is known, Moratelindo's shareholders, namely PT Candraka Multikreasi (CM) and PT Gema Lintas Buana (GLB), and Smartel signed a conditional share participation agreement last week (25/5).
As of December 2020, Moratelindo's authorized capital was IDR 298.75 billion and the issued and paid-up capital was IDR 298.75 billion with ownership structure of CM 57.50% and GLB 42.50%. (LK/LM)