Search Results for:Antonia Timmerman

Indonesia: East Ventures closes fifth fund, raises $27.5m

East Ventures, one of Indonesia’s most active venture capital firms, today announced that it has closed its fifth fund, and the vehicle’s partners – Willson Cuaca, Batara Eto, and Taiga Matsuyama – said they plan to use ‘deploy the capital to further their thematic investment thesis as the startup ecosystem… Read more »

Indonesia Digest: Greenwood mulls rights issue; Wika to propose $373.9m bonds issue

Jakarta-based developer Greenwood Sejahtera is mulling a plan to raise funds through a rights offering, while state construction firm Wijaya Karya (Wika) is to propose a bond issuance worth Rp 5 trillion ($373.9 million). Greenwood rights issue Greenwood is considering to sell up to 15 per cent of its enlarged… Read more »

Indonesia: state-owned electricity firm PLN to to raise $1.5b via global bonds

Indonesian State-owned electricity company Perusahaan Listrik Negara (PLN) is slated to raise $1.5 billion from a global bonds issuance in April, a government official said in Jakarta recently. PLN had planned to launch the bonds in March, but delayed the issuance following the disbursement of state capital injection and subsidy… Read more »

Indonesia comes out with regulations for P2P lending platforms

Following the release of e-commerce roadmap in November, Indonesia ended 2016 by coming out with a new set of rules for the fintech sector, specifically regulating peer-to-peer (P2P) lending platforms. The policies had long been anticipated by players, who had been working closely with the Indonesian financial services authority (OJK) to… Read more »

Indonesia: Lingerie startup Lolalola shuts down website

Lolalola, the Indonesian online lingerie platform, recently announced that it has officially shut down its website effectively starting on January 4, 2017. Lolalola did not state any further reason, but said that customers can still make purchases on the startup’s official Facebook and Instagram. Led by CEO Donna Lesmana, the… Read more »

Indonesia: Mitrabara divests from Cipta Tenaga; Perla Global to help Galuh Cempaka restructuring

Indonesian coal producer Mitrabara Adiperdana has sold 47.5 per cent stakes in unit Cipta Tenaga Surya to a Netherlands-based company, Engie Global Developments. Meanwhile, Perla Global Capital Advisors has been appointed to arrange the restructuring and capitalization of Galuh Cempaka Diamond Mine, a company wholly owned by HBS Resources. Cipta… Read more »

China: Galaxy, Puji Capital join hands to back foreign startups

Asia-based investment group Puji Capital and property developer Galaxy Holdings will work together to invest in more than 10 “small to medium sized” foreign companies in China. The two conglomerates will form a joint venture (JV) platform, which will provide capital and act as a business incubator for startups across… Read more »

Indonesia: Provident Agro divests unit to SJAI for $20m

Saratoga-controlled Provident Agro has offloaded 100 per cent shares in subsidiary Nakau to another local palm oil producer, Sinar Jaya Agro Investama (SJAI), for Rp 273.2 billion ($20.2 million). Nakau is a palm oil plantation based in North Lampung, Sumatra. The agreement follows the sale of four Provident Agro’s units… Read more »

Indonesia 2016: Riding on inbound deals, M&A activity sees big recovery

Led by inbound deals, Indonesia’s mergers and acquisitions (M&A) activity saw a significant recovery in both value and volume terms during 2016 at 131 deals worth $8.5 billion. The number represents a 400 per cent increase in value compared to $1.5 billion in the previous year from 105 transactions. In… Read more »

Indonesia 2016: Led by technology, PE transactions triple to $1.4b

If 2015 was considered the comeback year for Private Equity in Indonesia, then 2016 can well be called the period when PE activity in Southeast Asia’s largest economy accelerated, and also saw the creation of the country’s first unicorn. The numbers best capture the story. Indonesia witnessed a sharp increase in… Read more »