Super Bank’s backers also include app platform Grab Holdings and Singapore Telecommunications and KakaoBank Corp., according to its website. It traces its roots back to 1993, when it was known as PT Bank Fama International.
Deliberations are preliminary and may not result in a deal, the people said, adding that details such as value and size could still change.
Representatives for Emtek, as Elang Mahkota Teknologi is known, and Singtel didn’t immediately respond to requests seeking comment. Grab and KakaoBank declined to comment. Super Bank’s head of corporate finance and investor relations Ekaputra Aditya said the company “can’t comment on rumours or speculations.”
Emtek has businesses in sectors including media and digital, health care, technology, digital infrastructure and financial services. Its shares have lost about 8% in the past 12 months, giving the company a market value of US$1.9 billion.
