The investments were revealed in EMTEK Group’s financial statements per June 30, 2017

As a publicly listed company, Indonesia-based media mogul EMTEK Group last July announced its consolidated interim financial statements per June 30, 2017. An interesting fact to point out from the second quarter of 2017 is that the group, through its subsidiary KMK, now owns a minority stake in on-demand service Grab and software house Ice House. The group is confirmed to have sold their 25 per cent ownership in Kudo following its acquisition by Grab.

The financial statements mentioned that EMTEK own 1.684.455 (0,003 per cent) shares in Grab, which is likely to be the result of the sales of Kudo. In total, the value of Kudo acquisition lies between US$70-100 million.

Also Read: Emtek Group quietly confirms the acquisition of e-money provider Doku and Espay

At the other hand, EMTEK is investing in developing tech resources by acquiring 2.857.535 (18,47%) shares in Ice House Holdings Pte Ltd. Ice House is known as a leading software house in Jakarta that focusses on mobile game and app development.

We are yet to discover any information on a joint venture between EMTEK and Ant Financial (Alipay operator) in this period’s financial statements.

EMTEK may be considered as one of the leading media conglomerate in the country with a vision to develop its digital services offerings. With Blackberry Messenger at its core, EMTEK invests in e-commerce services (Bukalapak, Lakupon), online payments services (DOKU and Espay), online travel agencies (Reservasi), online medical services (KlikDokter and KlikApotek), on-demand video services (iflix and Vidio), property marketplace service (rumah.com), automotive marketplace (carbay), and job portal service (karir.com).

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The article EMTEK mulai berinvestasi di Ice House, Juga Memiliki Saham Grab was written by Amir Karimuddin and first appeared in DailySocial. English translation and editing by e27.

Image Credit: DailySocial

The post EMTEK Group invests in Ice House, also own minority stake in Grab appeared first on e27.