Multivision Plus (IFC-49224)

Countries
  • Indonesia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Jakarta
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
PT Multivision Plus Tbk
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 23, 2024

Disclosed by Bank Jun 11, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, IFC proposes up to US$ 20 million loan to the Company. The proceeds of the IFC financing would be used for refinancing existing loans and primarily for investments in new local content production and working capital requirements. MVP currently has its head office in Jakarta and subsidiaries or associated entities in Laos, Malaysia, Cambodia, Timor Leste and Thailand. All overseas subsidiaries/associated entities mainly work on distribution and/or cinema, with the exception of the entity in Malaysia, which produces daily soap opera for TV channels.                                                                           

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

This is a Category B Project according to IFC’s Policy on Environmental and Social Sustainability (2012) because it is expected to have limited adverse E&S risks and/or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed investment consists of an IFC A Loan of up to US$20 million equivalent in IDR , to finance part of the Company’s development  plan for the next 3-5years  with an estimated total cost of up to approximately US$50million .

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

PT Tripar Multivision Plus Tbk (“MVP” or the “Company”), founded in 1990, is one of the largest media houses in Indonesia. MVP focuses on the following sectors: (i) film production; (ii) television drama (sinetrons) production; (iii) web series production; (iv) cinema operations; and (v) film distribution. MVP's products are primarily sold to free-to-air (FTA) channels, (over-the-top) OTT channels active in Indonesia, and third-party cinema operator. MVP currently has its head office in Jakarta.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - PT Tripar Multivision Plus Tbk Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

PT Tripar Multivision Plus Tbk
Vikas Sharma
Director
+62819 1442 6847
vikas.sharma@mvpworld.com
Jl. Kuningan Mulia lot 9BSetiabudi, Kuningan, Jakarta 12980Indonesia
www.mvpworld.com

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works