Vidio.com Owned By Conglomerate Business Entity Eddy Sariaatmadja Gets IDR 662 Billion Of Capital Injection From Sinarmas Group, Pieter Tanuri To Grab

Video.com. (Photo: Doc. Emtek)

JAKARTA - The media company owned by conglomerate Eddy Kusnadi Sariaatmadja, PT Surya Citra Media Tbk (SCMA) is slowly starting to reduce its share ownership in PT Vidio Dot Com (Vidio).

This is related to the equity participation of some of Vidio's shareholders.

Corporate Secretary Surya Citra Gilang Iskandar said, on June 14, Vidio received capital participation from PT DSST Video Gemilang (an entity of PT Dian Swastatica Tbk Group Sinarmas), PT Ekonomi Baru Investasi Teknologi (a subsidiary of PT Bali Bintang Sejahtera Tbk owned by Pieter Tanuri), Grab LA Pte Ltd, and other equity holders. The value is 45 million dollars or equivalent to Rp. 662.8 billion (exchange rate of Rp. 14,729 per US dollar).

"With this capital investment/investment, the company's share ownership in Vidio has changed from 83.33 percent to 79.37 percent," Gilang said as quoted on Wednesday, June 15.

Even so, Gilang explained, there was no material adverse impact on the company's operational activities, law, financial condition or continuity of operations.

As additional information, Surya Citra is still developing the Vidio business as an over the top (OTT) digital platform. By 2021, the OTT Vidio platform already has an average of 62 million monthly active users and has reached 2 million paid subscribers.

In addition, the company also develops various technology-based shows and services in the form of changing the analog system to digital.