JAKARTA. PT Mahaka Media Tbk (ABBA) had invested funds of IDR 4.8 billion as a part of equity participation in a joint venture called PT Akasia Damcorp Waba (ADW).
ADW was established with the help of PT Dam Korporindo Digital (DAM), granted with an authorised capital of IDR 4.8 billion and an issued and paid-up capital of IDR 1.2 billion. ABBA and DAM each claimed 50% of the total shares of ADW.
Adrian Syarkawi, President Director of ABBA, claimed that the said investment would optimise his company’s revenue performance. “The purpose of the transaction is directed towards digital development to monetise users and customers of ABBA groups’ products,” he announced in the information disclosure in Indonesia Stock Exchange.
For the record, this recent investment has been added to the long list of ABBA’s subordinate companies. As of September 30, 2021, ABBA was reported to directly own four companies and indirectly manage another four. (KR/ZH)