Jakarta. Technology company Indosterling Technomedia, also known by its ticker symbol TECH, announced that its shares had now been included in the exchange-traded fund managed by the US investment management giant State Street Corporation.
TECH’s stable and dynamic performance in the local exchange has made it included in the S&P Emerging BMI Index. This leads to State Street Global Advisors (SSGA) trading TECH in $2 billion-group ETFs (SPEM) and the under $2 billion group EWX. As of Sep. 21, TECH is part of the ETF package that comprises various issuers of financial, information technology, communication services, industry, consumer, health, real estate, and energy industries in Indonesia.
"The entry of TECH as an ETF traded by SSGA shows how TECH consistently works to tap into the market potential of digitizing education in Indonesia with the Edufecta application," TECH’s president director Billy Andrian said in a recent press statement.
The company, whose controlling stake is owned by Sean William Henley (SWH), is a subsidiary of the IndoSterling Group.
TECH through the Technomedia Interkom Cemerlang has developed Edufecta, which provides digitization solutions for education.
One of TECH's milestones is the collaboration with the Association of Indonesian Private Universities (APTISI). This partnership is part of the effort to accelerate the digitization of private universities – in line with the Education Ministry’s Kampus Merdeka program.
According to Ucu Komarudin, the chief executive officer of Technomedia Interkom Cemerlang (Edufecta), the Edufecta application can help integrate and simplify the management of campuses and schools.
"In the midst of the demands for digitalization of the world of education, Edufecta is here to build an education pipeline to improve the quality of the academic path. It is also a solution to answer the challenges of an increasingly dynamic business world that we are seeing today and in the future," he said.
Edufecta earlier announced that it was also planning to expand into a new market, namely primary and secondary education.