An illustration of MD Pictures. (B1 File Photo)
Tencent Takes Minority Stake in MD Pictures
OCTOBER 22, 2021
Jakarta. Chinese tech giant Tencent has taken a minority stake in MD Pictures, an Indonesian production house listed under the ticker symbol "FILM" at the Indonesia Stock Exchange.
“We enthusiastically welcome Tencent as a new investor in FILM,” Manoj Punjabi, the founder and CEO of MD Pictures, said in a statement.
According to Manoj, the investment represents Tencent’s positive outlook on the Indonesian content industry, as well as confidence in MD Pictures’ market leadership and potential growth.
“This investment reflects their continued commitment to cutting-edge technology and content companies globally,” he said.
Specific terms of the transaction have not been disclosed.