JAKARTA. PT M Cash Integasi Tbk (MCAS) made an announcement regarding its latest investment in PT V2 Indonesia, an audio solution company established in 1992.
Rachel Stephanie, Director and Corporate Secretary of MCAS, said that the investment was placed through its subsidiary, PT Meta Pravia Digital (MPD). The total number of shares taken over by MCAS through MPD amounts to 55 thousand shares, equivalent to 50% of the total shares of V2 Indonesia.
The investment of MCAS in V2 Indonesia is not categorised as an affiliate transaction as stated by the Financial Service Authority (OJK). It is due to the transaction being only worth IDR 550 million, which does not surpass 20% of MCAS’s total equity.
Jahja Suryandy, Managing Director of MCAS, said that his company intends to access the audio-visual market in Indonesia through this investment in V2 Indonesia. “Several synergies with V2 will be reinforced, for instance, in the modern retail sector, which has tens of thousands of modern retail networks connected within a group,” he further explained in an official release.
Meanwhile, Rudy Hidayat, Founder and CEO of V2 Indonesia, claimed to be quite optimistic regarding the investment made by MCAS. “We are confident that several collaborations will take place, be it with existing V2 services or other innovative initiatives in the future,” he stated. (KR/ZH)