Summary of Proposed Investment
Project Number
10737
Company Name
SIGMA CIPTA CARAKA, PT
Date SPI Disclosed
Feb 1, 2001
Country
Indonesia
Industry
Telecommunications and Technology
Projected Board Date
Mar 5, 2001
Status
Completed
Sector
Computer Systems Design and Related Services (System Integration, Custom Computer Programming, IT Services etc.)
Department
WBG Digital and AI
Environmental Category
B - Limited
Previous Events
Approved : Apr 18, 2001
Signed : Apr 27, 2001
Invested : May 24, 2001
Project Description
The project consists of providing Sigma with up US$3 million in equity financing to help finance the expansion of its operations in the Indonesian market as well as in the U.S. and European markets. This would allow Sigma to continue to meet the growing demand for its services, particularly in the software development sector. The expansion would include: (i) funding Sigma''s market expansion through the establishment of U.S. and European based offices; and (ii) financing the purchase of computer hardware, software tools and infrastructure support such as communication links, call centers and other physical facilities in Indonesia.
The project will have significant developmental impact by: (i) potentially creating several hundred, highly skilled software services jobs in Indonesia; and (ii) helping to train skilled workers in Indonesia by exposure to best practices from US and Europe.
IFC''s participation would encourage other local and foreign institutions to invest in Sigma in future rounds as well as increase the group''s credibility with major global companies in securing additional contracts. IFC has also advised the company in its on-going restructuring efforts to streamline its corporate and shareholding structures under a single holding company. IFC could also introduce its existing portfolio clients (especially in the financial sector) to Sigma in order to IT-enable these clients with best-of-breed solutions that Sigma offers. IFC''s ICT department will bring its global knowledge to help Sigma fulfill its growth strategy.
The project will have significant developmental impact by: (i) potentially creating several hundred, highly skilled software services jobs in Indonesia; and (ii) helping to train skilled workers in Indonesia by exposure to best practices from US and Europe.
IFC''s participation would encourage other local and foreign institutions to invest in Sigma in future rounds as well as increase the group''s credibility with major global companies in securing additional contracts. IFC has also advised the company in its on-going restructuring efforts to streamline its corporate and shareholding structures under a single holding company. IFC could also introduce its existing portfolio clients (especially in the financial sector) to Sigma in order to IT-enable these clients with best-of-breed solutions that Sigma offers. IFC''s ICT department will bring its global knowledge to help Sigma fulfill its growth strategy.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Ms. Marina Budiman
Executive Vice President
PT Sigma Cipta Caraka
Menara Dea 8th Floor
Kawasan Mega Kuningan
Jl. Mega Kuningan Barat IX Kav. 4.3 No. 1
Jakarta 12950
Executive Vice President
PT Sigma Cipta Caraka
Menara Dea 8th Floor
Kawasan Mega Kuningan
Jl. Mega Kuningan Barat IX Kav. 4.3 No. 1
Jakarta 12950