The Financial Services Authority, known as OJK, plans to issue new rules by June that will compel fintech firms to be registered with authorities. Unregistered companies won’t be allowed to tap financial markets or raise money from banks.
Indonesia Digital Asset Exchange will have 1.5 million members buying and selling digital currencies by the end of the year.
Baring PE Asia, Taiwan’s Cathay Financial Holding, and South Korea’s Shinhan Financial Group are among bidders for a stake in PT BFI Finance Indonesia.
Oki Ramadhana, who heads Morgan Stanley’s Indonesian operations, will be leaving to join HSBC.
The subsidiary, PT Asuransi Adira Dinamika, has drawn interest from European and Japanese insurers.
Kalbe, which gets about a third of its revenue from distribution and logistics, is open to roping in an equity partner for the unit, a top executive said.
Under the new deal, Inalum will seek to acquire London-based Rio Tinto Group’s joint venture interest in Grasberg by March.
It will join Hermina Hospital Group and snack maker GarudaFood Group in seeking to sell stock.
MUFG will probably buy 40 percent of Danamon in two phases, the first of which may take place early in 2018
The country is asking 118 companies to embrace new sources of fundraising starting next year.