Indonesia-listed PT Bank Sinarmas Tbk has decided not to go ahead with its previously announced plans to invest $25 million in the local digital wallet Espay Debit Indonesia Koe — popularly called DANA — according to IDX filings by the bank, reviewed by DealStreetAsia.
Bank Sinarmas did not cite any reason for scrapping its proposed investment. “The change will not affect the continuity of Bank Sinarmas’ business operations,” Frenky Tirtowijoyo, president director of the lender said in the statement.