JAKARTA – PT Solusi Sinergi Digital Tbk (WIFI), or Surge, has shown promising business prospects in the technology infrastructure sector, attracting top-tier entrepreneurs, including Hashim S. Djojohadikusumo, Arwin Rasyid, and Fadel Muhammad.

This move was initiated with the signing of a Memorandum of Understanding (MoU) between Surge and PT Arsari Sentra Data, a company owned by Hashim S. Djojohadikusumo, the brother of President Prabowo. The partnership aims to accelerate the development of connectivity infrastructure services in Indonesia.

Since early 2024, WIFI’s stock has seen a significant increase from IDR 149 to IDR 380 per share, marking a 155% rise. The stock even hit a peak at IDR 458 on November 14, 2024.

On December 23, 2024, the signing of a Sale and Purchase Deed (AJB) between Surge's controlling shareholders and several national figures took place. PT Arsari Sentra Data, owned by Hashim S. Djojohadikusumo, purchased 45% of PT Investasi Sukses Bersama, the parent company of WIFI. This acquisition gave Hashim an indirect ownership of 22.55% of WIFI shares.

Arwin Rasyid, owner of TEZ Capital & Finance and former CEO of PT Telkom Indonesia and CIMB Niaga, also purchased 27.22% of PT Media Wiguna Nusantara, giving him indirect control over 7.50% of WIFI shares.

Senior politician Fadel Muhammad also bought 27.22% of PT Media Wiguna Nusantara, thus owning 7.50% of WIFI shares indirectly.

According to Surge’s official statement on January 10, 2025, these changes in share ownership occurred through the company’s parent entity without direct transactions involving WIFI shares.

WIFI shares were first listed on the Indonesia Stock Exchange on December 30, 2020, at an initial price of IDR 530 per share. Over time, the stock reached its highest level of IDR 1,491 on June 18, 2021. (DK)