Emtek Owned By Eddy Koesnadi Sariaatmadja, Grab, And Singtel Become New Investors In Bank Fama International

Illustration. (Photo: Unsplash)

JAKARTA - PT Bank Fama International will have new investors. After announcing that it was officially acquired by PT Elang Media Visitama, a subsidiary of PT Elang Mahkota Teknologi Tbk (EMTK) on December 22, 2021, Bank Fama now has 2 investors.

Elang Mahkota Teknologi provides information disclosure regarding the entry of strategic partners to develop Bank Fama. In a disclosure to the IDX, Friday, January 21, it was stated that EMV had invited A5-DB Holdings Pte. Ltd, which is a subsidiary of Grab Holdings Limited (Grab) and Singtel Alpha Investments Pte. Ltd., which is part of Singtel Telecommunications Limited (Singtel) to participate in making equity participation in the issuance of new shares of Bank Fama.

Grab and Singtel are said to have taken part, each amounting to 2,355,004,657 new shares of Bank Fama. This amount is equivalent to 16.26 percent of the company's issued and paid-up capital which has been increased.

After the issuance of new shares was completed, EMV's ownership in Bank Fama became 62.76 percent. Then, PT Nusantara Berkat Agung has 4.72 percent, Grab has 16.26 percent, and Singtel has 16.26 percent.

The investment in shares by Grab and Singtel has been notarized in the Deed of Decision of the Shareholders of PT Bank Fama International No. 2 dated January 5, 2022. Meanwhile, Singtel annexed 16.3 percent of Bank Fama's shares with a value of around Rp500 billion.

This action is said to be part of Singtel's plan to capture banking potential in Indonesia. Singtel realizes that there are still many Indonesians who do not have access to banking and the largest number is in the Southeast Asia region.

The company targets this investment to encourage Bank Fama's digital development and greater financial inclusion. The funds used for this action are said to come from internal sources. Meanwhile, Grab and Singtel also have a joint venture to operate a digital bank in Singapore.