PT Smartfren Telecom Tbk, through its business entity, PT Smart Telecom,  participated in share capital in PT Mora Telematics Indonesia (Moratelindo) with the transaction value of Rp360 billion.

This step was realized by signing a conditional equity participation agreement by Smartel, PT Candrakarya Multikreasi (CKM), and PT Gema Lintas Benua (GLB) Moratelindo on May 25, 2021, in connection with Smartel's planned share capital participation in new shares to be issued from the Moratel portfolios as much as 20.5%. CKM and GLB are the shareholders of Moratelindo.

With this amount of equity participation, Smartel will become a minority shareholder of Moratelindo.

"This investment is carried out in the framework of developing the company's strategic business, Smartel, and Moratelindo in the future," said Smartfren Director Antony Susilo in the IDX disclosure on Monday (31/5).

According to him, through this investment, the par