EMTEK Group Q2 2018 Technology Business Highlights

EMTEK Group (EMTEK) is a media conglomerate that owns interest high regard for the technology business, especially under the umbrella of its subsidiary, KMK. Every quarter, in its financial statements, EMTEK Group alwayshighlight corporate actions, including those related to technology businesses.

The following are the highlights of EMTEK Group's technology business developments in the second quarter of 2018:

(1) Shares in Bukalapak that are diluted

As of June 22 2018, EMTEK's ownership of services marketplace Bukalapak is 2.670.490 pieces. This number increased compared to the figure as of August 11, 2017, which was 2.488.630 pieces. Nevertheless, on a percentage basis, there was a fairly large dilution after the entry of new investors (whose names and numbers have not yet been mentioned) which made Bukalapak enter the ranks of unicorns late last year. Last year EMTEK owned more than 49% of Bukalapak's shares, now its ownership is "only" 36,86%.

(2) Sell all shares Grab

EMTEK acquired 1.684.455 shares Grab (0,25%) thanks to the sale of Kudo's shares acquired Grab in April 2017. Based on the March 2018 listing, all of these shares has been sold to a third party.

(3) The acquisition value of Kapanlagi Networks

In March 2018 EMTEK confirmed that it had acquired a 50% stake in PT Kapan Lagi Dot Com Networks (Kapan Lagi Networks / KLN). The recorded costs incurred by EMTEK are 174,7 billion Rupiah with a total KLN valuation of IDR 357 billion (approximately $24 million).