MNC Land and MCC Group joint press conference. Photo by Antonia Timmerman

Indonesia Digest: Rimo rights issue; MPM sells unit; MNC’s $2.2b capex


After a delay of almost two years, Indonesia-listed firm Rimo International Lestari is set on closing its rights offering and acquisition deals next month in its bid to enter the property business. In other developments, Mitra Pinasthika Mustika (MPM) plans to sell a part of its shares in MPM Finance to… Read more »

Indonesia: News platform Baca injects $10m into community site Nulis

Baca received $20 million in a series B round last year.

Indonesia: Multipolar, Temasek mull plan to sell stake in retailer Matahari

Multipolar owns 50.23% & Temasek 26.1% in Matahari Putra Prima.

Grab commits $700m to SEA’s largest economy to battle Go-Jek

Grab, a ride-hailing platform with significant market share in Southeast Asia, today launched its ‘Grab 4 Indonesia’ 2020 master plan, endorsed by Badan Koordinasi Penanaman Modal (BKPM), the Government of Indonesia’s Investment Coordinating Board. Under the plan, Grab will invest $700 million in Indonesia over the next four years to… Read more »

Indonesia: Cermati closes Series A extension from Orange Growth Capital

Financial e-commerce platform Cermati has secured a Series A extension investment from Orange Growth Capital.

Indonesia: Game developer Toge Productions gets funding from Zhexin’s DNC

Toge Productions, an Indonesian indie game developer studio, announced today that it has received an undisclosed amount of funding from Discovery Nusantara Cpital (DNC), the investment arm of China-based game company Zhexin IT Co. The early-stage funding will be used to accelerate growth, and help in bringing “high quality games… Read more »

Indonesia: Travel co Panorama Group sells 40% in unit to Japan’s JTB Group

Indonesian travel company Panorama Group announced on Tuesday that it has agreed to divest 40 per cent shares in unit Panorama Tours Indonesia to JTB Group, a Japan-based travel agent chain operator. Transaction value is pegged approximately at $36 million (Rp 491 billion). Publicly listed firms Panorama Sentrawisata and Weha… Read more »

Indonesia: Pan Brothers’ $200m notes; Toba Bara & Sentra Budidaya deals

Indonesian textile and garment maker Pan Brothers, through its Netherlands-based unit PB International BV, has raised $200 million from a bond issuance. Coal producer Toba Sejahtera has completed the sale of publicly-listed Toba Bara Sejahtera to Highland Strategic Pte Ltd while Sekar Bumi has acquired 90 per cent shares of Sentra… Read more »

Indonesia: AMVESINDO pushes for national VC fund, says startups need $1.5b a year

Indonesian venture capital and startups association (AMVESINDO) will push for the setting up of a national VC fund this year, chairman Jefri Sirait told DEALSTREETASIA. The fund will aim to invest mainly in tech-based early-stage businesses across the country, which are believed to require about Rp20 trillion ($1.5 billion) of… Read more »

SE Asian ride-hailing app Grab hires ex-Indonesian police chief

Southeast Asian ride-hailing firm Grab said on Monday it has appointed Indonesia’s former national police chief to oversee corporate governance and long-term plans for its biggest market. Grab said it plans to expand to more cities in Indonesia, grow its transport services and invest in a mobile payments platform. Badrodin… Read more »