February 28, 2015 2:38 PM ET

Internet Software and Services

Company Overview of PT First Media Tbk

Company Overview

PT First Media Tbk primarily provides services through a broadband communication network; and distribution of various electronic signals through the network in Indonesia. It offers cable television (TV), 3D and high definition pay TV, and ondemand cable services; broadband Internet services and data communication services; and video streams. The company is also engaged in fixed local packet-switched based network, film and video recording, subscription broadcasting, and trading businesses. In addition, it provides support and troubleshooting services. PT First Media Tbk serves household, as well as commercial and other subscribers. The company was formerly known as PT Broadband Multimedia Tb...

BeritaSatu Plaza

4th Floor

Suite 401

Jl. Jend. Gatot Subroto Kav.35-36

Jakarta,  12950

Indonesia

Founded in 1994

1,139 Employees

Phone:

62 21 527 8811

Fax:

62 21 527 8833

Key Executives for PT First Media Tbk

PT First Media Tbk does not have any Key Executives recorded.

PT First Media Tbk Key Developments

MEASAT Broadcast Network Systems Sdn Bhd Announces Update on Material Litigation

Astro Malaysia Holdings Berhad announced that its wholly owned subsidiary, MEASAT Broadcast Network Systems Sdn Bhd and the other Astro claimants had obtained leave of the Hong Kong Courts to enforce the Arbitration Awards in Hong Kong in August and September 2010 and the Claimants entered judgment in terms of the Arbitration Awards in December 2010. The Arbitration Awards were granted to the Claimants in 2009 and 2010 following the arbitration proceedings between the Claimants and PT First Media Tbk (PTFM), PT Ayunda Prima Mitra (PT APM) and PT Direct Vision (PTDV). As part of the Claimants’ efforts to enforce the Awards against PTFM, the Claimants applied to the Hong Kong High Court and, in July 2011, obtained a garnishee order nisi in respect of money loaned by PTFM to its parent company, AcrossAsia Limited (AAL), which would, when made into an absolute order, require AAL to pay the Claimants the loan owed to PTFM in part satisfaction of the amounts outstanding to the Claimants from PTFM under the Awards. However, PTFM applied for: (a) an extension of time to apply to set aside the court orders to enforce the Awards granted in August and September 2010 and the 9 December 2010 judgment (since PTFM’s application was made after the expiry of the time limit for such application to be made); (b) an order that the Hong Kong court orders of August and September 2010 and the judgment in December 2010 be set aside; and (c) an order that the garnishee order nisi be set aside. PTAPM and PTDV have made no challenge to enforcement of the Awards in Hong Kong or the judgments entered in December 2010. On 31 October 2013, the Hong Kong High Court ruled in favour of the Claimants and, inter alia, granted a garnishee order absolute requiring AAL to make repayment of the loan to the Claimants. AAL and PTFM have appealed against the decision of the Hong Kong High Court granting a garnishee order absolute, and obtained a stay of execution of the garnishee order absolute pending determination of the HK Setting Aside Application. The appeal remains pending. Astro Malaysia Holdings Berhad announced that the Hong Kong High Court has on 17 February 2015 ruled on the HK Setting Aside Application in favour of the Claimants. The Hong Kong High Court found, amongst others, that: (i) PTFM is not permitted to resist enforcement of the Awards as it has acted in breach of the good faith principle in its conduct in the Arbitration; (ii) PTFM had taken a deliberate decision not to take action within the time limited to challenge enforcement of the Awards in Hong Kong; (iii) the Awards remain valid and binding even though PTFM has successfully resisted enforcement of the Awards in Singapore. The Hong Kong High Court declined to exercise its discretion to grant an extension of time to PTFM to apply to set aside the Awards. Consequently, PTFM’s HK Setting Aside Application was dismissed in its entirety.

First Media May Sell More Shares In Link Net

PT First Media Tbk (JKSE:KBLV) said this week that it may sell more shares in PT Link Net Tbk (JKSE:LINK) to raise funds for the planned expansion.

PT First Media Tbk Announces Unaudited Consolidated Earnings Results for the Nine Months Ended Sep. 30, 2014

PT First Media Tbk announced unaudited consolidated earnings results for the nine months ended Sep. 30, 2014. For the period, the company reported revenue of IDR 1,800,977 million, compared to IDR 1,236,180 million a year ago. Operating profit was IDR 459,404 million, compared to IDR 40,856 million a year ago. Profit before income tax was IDR 359,405 million, compared to loss of IDR 30,744 million a year ago. Profit attributable to equity holders of the parent company was IDR 27,004 million, compared to loss of IDR 172,628 million a year ago. Basic earnings per share was IDR 16, compared to loss per basic share of IDR 99 a year ago. Net cash flow provided by operating activities was IDR 670,771 million, compared to IDR 168,795 million a year ago.

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Target
Private Placement
January 6, 2015
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November 26, 2014
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