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Manila Bulletin devider Business devider The Stock Market devider Cash-strapped Xurpas divests Indonesian unit to boost liquidity

Cash-strapped Xurpas divests Indonesian unit to boost liquidity

Published Jan 28, 2026 02:49 pm

Cash-strapped Xurpas Inc. is selling its 49-percent equity interest in PT Sembilan Digital Investama (PT SDI) for five billion Indonesian rupiah, or about ₱17.6 million, an investment it acquired in 2015 for about ₱10.8 million.

In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, Jan. 28, Xurpas said PT SDI wholly owns PT Ninelives Interactive, a licensed mobile content developer in Indonesia. The acquisition gave Xurpas access to mobile content owned by SDI.

The company said proceeds from the divestment will be used for general and working capital requirements.

Xurpas earlier disclosed that it had extended advances totaling ₱22.08 million to SDI as of end-March and end-December 2024 to support its mobile content and distribution services.

Apart from the divestment, Xurpas said last year that it is also pursuing initiatives to raise equity capital and improve its financial position, including ongoing discussions with prospective investors for a private placement.

On Jan. 14, 2026, Xurpas’ board approved the issuance and listing of 100 million Xurpas shares to PPARR Management & Holding Corp. at a subscription price of ₱0.10 per share.

This resulted in PPARR Management owning 3.83 percent of Xurpas’ total outstanding shares. Proceeds from the share issuance will likewise be used for general and working capital requirements.

The firm is also looking to implement cost-saving initiatives, including workforce rightsizing, strategic resource allocation, streamlining administrative functions, and prioritizing high-margin service offerings.

“The company is also strengthening its revenue base by expanding enterprise services such as information technology staff augmentation and artificial intelligence consulting, developing digital solutions targeted at small and medium enterprises to diversify its customer base, and enhancing brand positioning through targeted marketing and international expansion,” Xurpas said.

Related Tags

Xurpas Inc. PT Sembilan Digital Investama PT Ninelives Interactive
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