Digilife has sold 100% of its stake in its major subsidiary Modi Indonesia 2020 Pte. Ltd. to NFT Digital
Digilife Technologies Limited has completed the sale of Modi Indonesia 2020 Pte. Ltd. and its subsidiaries to NFT Digital Pte. Ltd. This disposal qualifies as a major transaction under Chapter 10 of the Catalist Rules in Singapore.
Modi Indonesia 2020, a subsidiary of Digilife Technologies, was incorporated in the Republic of Singapore on 19 September 2008. The principal business activity of the group is as an investment holding in various Indonesian companies, primarily focusing on the distribution of well-known telecommunication operators’ products in Indonesia, such as pre-paid SIM cards.
NFT Digital is a private company limited by shares, incorporated under the laws of Singapore on 19 December 2024. The company is primarily engaged in providing technology services, internet of things (IoT) solutions and cybersecurity. NFT Digital intends to continue operating Modi Indonesia 2020’s existing business through the acquisition, as it is complementary and synergistic to its principal business.
Headquartered in Singapore, Digilife Technologies was incorporated in 1993 and is listed on the Catalist Board of the Singapore Stock Exchange. The company operates in telecommunications and technology, providing telecommunication services across Southeast Asia and internationally. In Indonesia, it distributes mobile pre-paid cards for telecommunication operators and manages a distribution network of approximately 30,000 resellers plus 150 dealers and sub-dealers. The company also offers hardware infrastructure and business service integration for government and corporate clients as well as integrated ICT solutions. Additionally, it undertakes projects involving networking, data hosting and managed service solutions. Furthermore, Digilife supplies, rents, maintains and services computer hardware and peripheral equipment.
Oaklins’ team in Singapore acted as the financial advisor to the shareholders of Digilife Technologies regarding the disposal of their entire stake in Modi Indonesia 2020.
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