JAKARTA – PT Elang Mahkota Teknologi Tbk (EMTK) has resumed purchasing shares of its subsidiary, PT Surya Citra Media (SCMA), continuing its accumulation efforts since late 2024.

Since December 2024, EMTK has acquired up to 50 million SCMA shares at an average price of IDR 137. Most recently, on 12 February 2025, EMTK reported acquiring an additional 75 million shares at IDR 221 each, raising its stake in SCMA from 60.97% to 62.31%.

To date, EMTK has spent IDR 158.83 billion to purchase a total of 922.92 million SCMA shares.

“EMTK continues to buy SCMA shares despite the rising prices. Given this situation, sentiment is likely to remain positive, as EMTK is the majority shareholder of SCMA,” said Fath Aliansyah, Head of Investment Speciality at Maybank Sekuritas, as quoted by Kontan.co.id.

Through this share accumulation, EMTK is not merely offering SCMA shares at a lower price. "This could be seen as an indication that EMTK is optimistic about SCMA’s improved performance," added Fath.

On the other hand, EMTK is a conglomerate whose financial performance is influenced by the performance of its subsidiaries. Therefore, according to Fath, the parent company stands to benefit when its subsidiaries strengthen both in terms of performance and share price. (DH/ZH)