The Aggressiveness of Sinar Mas Group Entities and Alibaba's Opportunity to Seize It

The aggressiveness of the issuer which is an entity of the Sinar Mas Group, namely PT Smartfren Telecom Tbk. (FREN) in carrying out corporate actions, apparently was welcomed by Alibaba Group.

Alibaba Group's partnership with Indonesian companies has become more intimate after entering into a joint venture agreement with the telecommunication issuer with the ticker code FREN. The joint venture company formed on December 22, 2021 is PT Nuri Gaya Citra (NGC). In this case FREN formed NGC through its subsidiary PT SF Digital Commerce (SFDC). Alibaba's ownership in the JV is represented by an affiliated company, namely Fonixtree Digital Singapore Ltd. (FDSL). FDSL itself is a company affiliated with Whale Cloud Technology Co., Ltd, as part of Jack Ma's Alibaba ecosystem. This collaboration accelerates Smartfren's digital transformation by utilizing Whale Cloud's Business Support System (BSS) and Operation Support System (OSS) technology solutions. The company is referred to as an important partner in the Alibaba Cloud software services ecosystem which focuses on being a leading global company in data intelligence technology, and is claimed to be a world leader in digital transformation. On the other hand, issuers with the stock code FREN can be quite aggressive in carrying out corporate actions. This is because last October, FREN, through its subsidiary Moratelindo, was said to be acquiring a 65 percent stake in a satellite management company, PT Indo Pratama Teleglobal. In addition to Smartfren, the potential for Alibaba's intervention in inter-company partnerships in the country also occurs in the e-commerce company PT Bukalapak.com Tbk. (OPEN). Moreover, Alibaba's business entity, Ant Group, through API (Hong Kong) Investment Limited, holds a 13.05 percent stake in Bukalapak

|•SOURCE•| Articles :BISNIS INDONESIA | Image : MAIN MAIN ID |

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