JAKARTA - PT Bank Nationalnobu Tbk (NOBU) announces its latest cooperation with PT Multipolar Technology Tbk (MLPT) to drive the implementation of Sunline Digital Platform as a supporting infrastructure for its digital banking services.

Based on information disclosure in Indonesia Stock Exchange (IDX) yesterday (2/8), this cooperation agreement was signed by both involved parties on July 31, 2023, and will continue to take effect until January 31, 2026.

This arrangement covers the sale of application and implementation of Sunline Digital Platform and its supporting system to Bank Nobu from PT Digital Daya Teknologi, sub-contractor and subsidiary of MLPT. NOBU will also receive the license of supporting products, as well as integrating its BankVision core banking system to Sunline Digital Platform and its supporting system.

For all those services, NOBU spends approximately IDR 351.13 billion, which will be paid in stages for the next three years. This amount is only equivalent to 11.06% of the company’s equity, thus making this transaction not material.

However, this transaction between NOBU and MLPT is categorised as an affiliate transaction under common controller, Dr. James Tjahaja Riady. Riady is the ultimate beneficial owner of PT Putera Mulia Indonesia, the controlling shareholder of NOBU, as well as the controller of PT Multipolar Tbk (MLPL), the controlling shareholder of MLPT.

For the record, according to IDNFinancials’ research, Sunline is a banking technology and software service provider based in China. It was established in 2002, and had been publicly listed in 2012. (ZH)