Visual: Emtek’s rise as a major player in Indonesian tech

PT Elang Mahkota Teknologi (Emtek) has long been a media powerhouse in Indonesia. While content production, broadcasting, and telecommunications infrastructure have traditionally been its core businesses, the company has aggressively branched out into digital products.

Its investments and strategic partners include local content creation startup Vidio, e-wallets Doku and Dana, and ecommerce unicorn Bukalapak, which recently made its stock market debut. Of course, Emtek’s relationship with Grab is a notable recent development.

The timing of its digital transformation couldn’t be better. The Covid-19 pandemic has hit Emtek’s traditional businesses as advertisers cut spending for television spots, the firm revealed in its recent annual report. Moreover, social distancing restrictions have battered its event planning arm and slowed business in its non-Covid referral hospitals.

Interestingly, Emtek’s public-facing media business was not its primary revenue driver in 2020, unlike in previous years.

Instead, Emtek’s main money spinners were its business solutions services, which include a range of infrastructure, information, communications, telecommunications, banking, and retail payments solutions. Its business portfolio includes services for integrated very small-aperture terminals (VSATs) and smart card infrastructure.

This year, Emtek’s performance has improved in line with a broader economic recovery. As of the first half of 2021, Emtek posted revenue of 6.45 trillion rupiah (US$452 million) – up 21.56%, year-on-year.

Here are the details of the startups Emtek has invested in:

The following infographic summarizes Emtek’s portfolio in the digital space and its strategic collaborations:

Currency converted from Indonesian rupiah to US dollar: US$1 = 14,202 rupiah

A version of this article was originally published by Deandra Syarizka on Tech in Asia Indonesia.