ASGR through its subsidiary AGIT jointly with Monitise Asia Pacific launching mobile banking services solutions in Indonesia
Jakarta 28 July 2011 - PT Astra Graphia Tbk (ASGR) through its subsidiary, PT Astra Graphia Information Technology (AGIT) enters into mobile banking business, jointly with Monitise Asia Pacific by signing of a joint venture agreement today in Jakarta. The initial investment of the joint venture is USD 2,000,000 which will be increased upon needed, with AGIT's share is 51% and Monitise Asia Pacific’s 49%.
The joint venture, PT AGIT Monitise Indonesia, will provide a platform which is able to support the full spectrum of mobile banking, payments and commerce software and solutions for banks, financial institutions, mobile operators and other service providers . Services will also be offered through mobile wallets to the unbanked and underbanked, people without a bank account or restricted access to mainstream financial services.
The new joint venture's business in Indonesia will be based on Monitise’s proven and established technology, which has been built since 2006 and been used to deliver mobile money services in UK, USA, India and Hong Kong.
Permata Bank, one of Indonesia's top-10 banks, has entered into a memorandum of understanding with AGIT and Monitise Asia Pacific to be the launch bank. Lukito Dewandaya, President Direktur ASGR in his speech after attending the signing of joint venture agreement between AGIT and Monitise Asia Pacific said, "The establishment of PT AGIT Monitise Indonesia is in line with the business strategy of Astragraphia Group in developing DICT (document, information, and communication technology) business. Mobile solution is one of the future business in ICT world which is very promising and was targetted by ASGR."
Jusuf Salim, AGIT President Director said: "Mobile solutions are expanding rapidly in Indonesia. Mobile banking is the next wave of innovation in banking and payments, and the Joint Venture in Indonesia will provide a central, independent and trusted platform to the Indonesian market. We are delighted to partner with Monitise, a leading player in this field. This will equip AGIT Monitise with world class technology and the mobile platform established will set a high standard for this emerging use of wireless technology with the scale, security, and reliability required to make mobile money a reality for Indonesia society."
Monitise Asia Pacific Chief Executive Darren Sugden said: "We are delighted to be opening for business in Indonesia. The country has seen huge growth both economically and in mobile phone take-up in recent years and our new partnership promises great commercial opportunities for everyone involved. Building on our recent partnership deals in Hong Kong, this is further evidence that the time is right for our plans for rapid expansion across the Asia Pacific region."
Monitise Asia Pacific is a joint venture between Monitise plc, UK and First Eastern Mobile Investments Ltd, part of the First Eastern Investment Group, a leading Hong Kong-based investment group.
Monitise plc (LSE: MONI.L) is a technology company delivering mobile banking, payments and commerce networks worldwide with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of services to their customers in developed and emerging markets. VISA Inc. is one of shareholders of Monitise plc. More information is available at www.monitisegroup.com
PT Astra Graphia Tbk (ASGR) is a subsidiary of PT Astra International Tbk has been established since 1976, and has been listed on the Indonesian Stock Exchange in 1989. ASGR focus as a document, information and communication technology based business solution provider, through two business units namely Document Solution business unit with its main principal Fuji Xerox, and ICT Solution business unit through PT Astra Graphia Information Technology (AGIT). ASGR has 77 service point network spreading out in 22 branch offices in the territory of the Republic of Indonesia.
For further information:
Susy H. Widjaja
Corporate Secretary PT Astra Graphia Tbk
Telp 390 9190 ext 1060 / Fax 390 9151