Indonesia’s Emtek, Murdoch invest in Malaysia’s
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iFlix CEO Mark Britt shows his company’s streaming TV series and video service on a gadget. The Malaysia-based company has just received a capital injection from Indonesia’s Emtek and Rupert Murdoch’s Sky plc., the owner of national TV stations SCTV and Indosiar, has spread its wings by investing in Malaysia’s streaming movies and TV series provider iFlix.
Along with European investor Sky plc, owned by mogul Rupert Murdoch, Emtek through PT Surya Citra Media has become a new investor in iFlix. Sky said it has injected $45 million into the company.
“The investment will support our continuing commitment to providing our members with the best in entertainment,” said iFlix CEO and co-founder Mark Britt in Kuala Lumpur on Thursday.
Providing a service similar to Netflix’s, iFlix is available in Malaysia, Thailand and the Philippines. Indonesia is likely to be the company’s next market for expansion.
In April 2015, iFlix got a $30 million injection from Malaysia’s Catcha Group and Philippine Long Distance Telephone Company (PLDT). PLDT is owned by Indonesian tycoon Anthony Salim and his family through Hong Kong-based First Pacific Finance.
Sariaatmadja family, who owns Emtek, is known to have tight business relations with the Salim family. It can be seen from the share ownership-swap deal between Sariaatmaja’s London Sumatera Plantations (Lonsum) and Salim’s Indosiar Visual Mandiri (Indosiar TV).
Salim bought Lonsum from Sariaatmadja in 2007 through plantation company PT Salim Ivomas Pratama In 2011, Sariaatmadja bought Indosiar through PT Surya Citra Media.
It strengthened both families in their core business. Salim is prominent in the consumer goods business, mainly with Indofood, while Sariaatmadja is strong in the media business.
Questions & Answers
Q.Which companies have recently invested in the Malaysian streaming service iFlix?
Which companies have recently invested in the Malaysian streaming service iFlix?
Indonesia's Emtek and Rupert Murdoch's Sky plc have become new investors in iFlix. Sky plc has injected $45 million into the company, supporting its commitment to providing entertainment.
Q.What is the primary business of iFlix and where does it currently operate?
What is the primary business of iFlix and where does it currently operate?
iFlix provides a streaming TV series and video service, similar to Netflix. It is currently available in Malaysia, Thailand, and the Philippines, with Indonesia being a likely next market.
Q.How do the Emtek and Salim families connect through their business interests?
How do the Emtek and Salim families connect through their business interests?
The Sariaatmadja family, who own Emtek, have tight business relations with the Salim family. This includes a past share ownership-swap deal between Lonsum and Indosiar TV, strengthening both families in their core businesses.
Q.When did iFlix last receive a capital injection before the recent investments?
When did iFlix last receive a capital injection before the recent investments?
In April 2015, iFlix received a $30 million injection. This funding came from Malaysia’s Catcha Group and the Philippine Long Distance Telephone Company (PLDT).
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