Cargill's company logo

Indonesia: Cargill-controlled Sorini to go private


Cargill-controlled Sorini Agro Asia Corporindo has announced plans to go private and delist its shares from the Indonesian Stock Exchange (IDX). Parent company Cargill Foods Indonesia is now offering to buy back all public shares at Rp 4,250 apiece. The offer is 150 per cent higher than Sorini’s last trading… Read more »

Indonesia: Ciputra Group completes merger

Ciputra Group has completed the highly-anticipated merger between its three publicly-listed companies.

Indonesia property firm HK Realtindo delays IPO

It was intending to raise $139m from selling a 35 per cent stake.

Indonesia: Media startup Kumparan receives first round of funding

Indonesian media startup Kumparan announced today that it has received its first round of funding from “undisclosed investors in the region”. The investment was done shortly after the startup’s initial launch in 2016 and before launching a beta version in January 2017. Kumparan claims to be Indonesia’s first hybrid site… Read more »

Indonesia: Reliance buys 68% in WOM Finance; Siloam buys hospitals; Astra takes over Cipali Highway

Reliance Capital Management has purchased 68.55 per cent stakes of Wahana Ottomitra Multiartha (WOM Finance) from Bank Maybank Indonesia, while Siloam International announced that it will acquire two new hospitals located in Bekasi, West Java, and Mataram, West Nusa Tenggara. In another deal news, conglomerate Astra International through its unit… Read more »

Indonesia: HR tech startup Ekrut gets seed funding from East Ventures

Human resource technology company, Ekrut raised a seed investment from East Ventures.

Indonesia’s transport and logistic startup Go-Jek can teache Uber a few Asian tricks

I don’t consider Uber Eats to be a separate service, but a different flavor of the same product, and the fact that Uber is still burning cash despite being the dominant provider in most markets in which it operates shows the fragility of the business model.

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 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 »