<article>Indonesian media and and technology conglomerate <a style="color: #000080;" href="http://www.emtek.co.id/" target="_blank">PT Elang Mahkota Teknology Tbk (Emtek Group)</a> says it plans to continue investing in startups, in an effort to boost portfolio of its online business segment.</article>

Indonesian media and and technology conglomerate <a style="color: #000080;" href="http://www.emtek.co.id/" target="_blank">PT Elang Mahkota Teknology Tbk (Emtek Group)</a> says it plans to continue investing in startups, in an effort to boost portfolio of its online business segment.
Emtek had invested in a number of startups last year, such as <a style="color: #000080;" href="http://Rumah.com" target="_blank">Rumah.com</a>, <a style="color: #000080;" href="http://Rumahdijual.com" target="_blank">Rumahdijual.com</a>, <a style="color: #000080;" href="http://Bola.com" target="_blank">Bola.com</a>, <a style="color: #000080;" href="http://Karir.com" target="_blank">Karir.com</a>, <a style="color: #000080;" href="http://hijup.com/" target="_blank">Hijup.com</a>, <a style="color: #000080;" href="http://kudo.co.id/" target="_blank">Kudo</a>, <a style="color: #000080;" href="http://bobobobo.com/" target="_blank">Bobobobo.com</a>, and <a style="color: #000080;" href="http://bukalapak.com/" target="_blank">Bukalapak.com</a>.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/indonesias-hijup-raises-second-round-of-seed-funding-from-fenox-500-startups-emtek-9523/" target="_blank">Indonesia’s HijUp raises second round of seed funding from Fenox, 500 Startups, EMTEK</a>
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Emtek vice president director, Sutanto Hartono, said, online business with a focus on e-commerce will be the company&#8217;s mainstay venture in 2016.
&#8220;What we are going to focus on first is the vertical development in the online content-based business, such as <a style="color: #000080;" href="http://liputan6.com/" target="_blank">liputan6.com</a>. At the same time, we will also pursue strategic investments in third parties. There are already several companies which are in the stage of due diligence, and several others who are still in initial talks with us,&#8221; Hartono told DEALSTREETASIA in Jakarta.
He  declined to specify the number of companies Emtek&#8217;s targeting, but said the group is ready to spend its cash flow for strategic investments. As of March 2016, Emtek&#8217;s cash flow was recorded at Rp7.7 trillion ($565 million).
Earlier, president director of Emtek, Alvin Sariaatmadja said the company is confident in expanding e-commerce and online units, as the sector&#8217;s growth performance is outdoing that of the conventional media business.
Indonesia&#8217;s internet penetration is still one of the lowest in the region, indicating massive room for advancement.
&#8220;We believe that this strategy will strengthen Emtek&#8217;s foothold as the leading media and tech companies in Indonesia,&#8221; said Sariaatmadja.
Emtek has announced that it will join British multinational entertainment company <a style="color: #000080;" href="https://www.sky.com/" target="_blank">Sky</a> in a funding round for <a style="color: #000080;" href="https://www.iflix.com/" target="_blank">iFlix</a> &#8211; a video streaming service startup based in Kuala Lumpur. The investment will be made through Emtek&#8217;s subsidiary <a style="color: #000080;" href="http://scm.co.id/" target="_blank">PT Surya Citra Media (SCM)</a> &#8211; the group&#8217;s content branch that operates free-to-air TV stations <a style="color: #000080;" href="http://www.sctv.co.id" target="_blank">Surya Citra Televisi (SCTV) </a>and <a style="color: #000080;" href="http://www.indosiar.com/" target="_blank">Indosiar.</a>
<h3 dir="ltr" style="text-align: justify;">2016 capital expenditure</h3>
This year, Emtek has allocated Rp400 billion ($29 million) for capital expenditure &#8211; about 33 per cent higher than 2015&#8217;s capex of Rp300 billion ($22 million). The allocation will be taken from Emtek&#8217;s internal cash flow.
Hartono said he is optimistic the capex will help Emtek to reach its targeted revenue and profit this year. So far, Emtek is still sticking to a rather conservative growth target of between 10 per cent to 12 per cent.
&#8220;However, we believe that we will eventually grow more than 10-12 per cent. This was a very conservative target that was set last year when the currency was still fluctuating,&#8221; Sutanto said.
Founded in 1983, Emtek now has three main business divisions &#8211; media, telecommunications and IT solutions, and connectivity. The media division consists of two FTA channels, SCTV and Indosiar.
The connectivity division consists of new initiatives under development in TV and internet services, while the solution division provides services solutions for communication and technology, telecommunication, banking and retail payment industries.
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<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/emtek-makes-series-b-investment-bukalapak-2670/" target="_blank">Emtek makes series B investment in online marketplace BukaLapak</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/indonesia-industry-body-receives-funding-commitment-for-its-accelerator-program-31914/" target="_blank">Indonesia: KADIN receives funding commitment from local VCs for proposed startup accelerator</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/developing-ecosystem-biggest-challenge-for-indonesia-fenox-vc-founding-member-anis-uzzaman-33312/" target="_blank">Need for more investors in Indonesia: Anis Uzzaman, Fenox VC</a>

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