Antonia Timmerman

Garuda Indonesia eyes $1b UK Export Finance loan to expand fleet

Indonesia’s national carrier PT Garuda Indonesia Tbk (GIAA) has expressed interest in the UK Export Finance‘s loan offer worth $1 billion, which had been put forward during Minister of State Owned Companies Rini Sumarno’s visit to Europe last week. The funds would be used for Garuda’s business expansions. President Director of… Read more »

Of Indonesian tech business & startups : 5 trends and opportunities

Indonesia’s emerging startups scene is trying to cope with the fast-changing society as the country experiences its first tech boom ever. With large and young population, urban city struggles, Indonesian business landscape has been transformed into a much more dynamic one. Wavecell, a Singapore-based cloud communications provider, pinpoints five key… Read more »

Indonesia: Sarana Menara to raise $316m via rights offering

Djarum Group’s telecommunications tower operator PT Sarana Menara Nusantara Tbk (TOWR) plans to raise Rp 4.18 trillion ($316 million) from a rights shares offering to finance expansions and strengthen capital structure. Sarana Menara aims to release 1.02 billion shares or equivalent to 10 per cent of the company’s enlarged capital…. Read more »

Indonesia: Atma Jaya receives $10.2m from IFC to build new campus, hospital wing

International Finance Corporation (IFC), the private sector lending arm of the World Bank Group, has agreed to invest Rp136 billion ($10.2 milion) in Atma Jaya Foundation, the owner and operator of private Jakarta-based Atma Jaya University.  The funds, structured as an A loan for IFC’s own account, will be used… Read more »

Indonesia: Matahari to up stake in to 10%

Matahari, the operator of Hypermart, Smartclub, Foodmart, Boston and FMX, said it wants to acquire another 5 per cent of, raising its stake in the online e-commerce marketplace to 10 per cent from 5 per cent. Director of Matahari Dani Konjongian said the company is currently studying various scheme… Read more »

Indonesia: Startups to get $76m in government’s micro-credit guarantee program

Indonesia’s Creative Economy Agency (BEKRAF) Tuesday said it will distribute Rp 1 trillion ($76 million) from the government’s micro-credit guarantee program (KUR) to local startups. The loans will be provided by three of Indonesian state-owned banks – PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Negara Indonesia Tbk (BBNI), and PT Bank… Read more »

Indonesia: President Joko Widodo launches online marketplace for farmers

Indonesian President Joko Widodo has launched an online marketing system (e-commerce) for agricultural products, in an effort to cut the long distribution chains from farmers to consumers. The agricultural e-commerce is part of the ‘Synergized-Actions for the People Economy’, a program that synergizes three ministries – the Communication and Information… Read more »

Astra Agro gets shareholder approval for rights issue

Indonesian palm oil plantation company PT Astra Agro Lestari Tbk (AALI), a subsidiary of PT Astra International Tbk (ASII), received shareholder approval on Monday for its Rp 4 trillion ($300 million) preemptive rights issue. Astra Agro intends to issue a maximum of 450 million units of new shares at a… Read more »

Indonesia: Top 20 startups receive $336m from foreign investors

More startups are crossing the seed level to Series A chasm as investors grow in confidence. Startups would be expecting much more availability of funding once restrictions on foreign investors are lifted. That move might turn out to be a watershed in Indonesia’s startup ecosystem.

Indonesia: Tokopedia raises $147m in follow-on funding round

Indonesia’s leading e-commerce marketplace Tokopedia has raised $147 million in fresh round of funding from undisclosed investors, according to several reports. With the new deal, Tokopedia’s total disclosed funding is expected to reach $247 million. It is not clear yet as to what the funding will be used for. Chief Executive… Read more »