Singapore’s PNE Micron Holdings acquires 100% stake in Indonesian subsidiary

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Singapore’s PNE-Sino PTE Ltd, a wholly owned subsidiary of PNE Micron Holdings, and Liew Nyoh Wah, a director of the company, are set to increase their respective holding in PT PNE Indonesia – a local trade & transportation services – by acquiring 4.57 per cent (43,518 shares) from Abdul Rasid Bin Chaichok. The… Read more »

Holcim Indonesia, DKJ Jakarta sign $5.5m infrastructure deal

Indonesia based cement manufacturer PT Holcim Indonesia Tbk (SMCB), and the Jakarta provincial government (DKI Jakarta) have signed two  infrastructure related agreements. The agreements that involve road repair in the capital city using the super material SpeedCrete, has total contract value of $5.5 million. The agreement was signed last week between two parties. The… Read more »


Indonesian construction co Hutama Karya raises $35.11m debt for Trans Sumatera toll road project

Indonesia’s state-owned infrastructure financing firm PT Sarana Multi Infrastruktur (SMI) has signed an agreement to provide loan worth Rp481 billion ($35.11 million) to the state-owned construction firm PT Hutama Karya for the construction of Medan-Binjai toll road section, which is part of the Trans Sumatera toll road network. Chief executive… Read more »


Indonesian startup Yogrt raises $3m Series A round

Indonesian startup Yogrt,  a location-based social networking application, has secured $3 million from Centurion Private Equity and Linear Ventures.  Kongko Digital is the Singapore-based parent company of the app. Both investment firms are known to be the backers of a number of successful technology, media and telecommunication companies in the Asia Pacific (APAC) market… Read more »


aCommerce recruits new CXOs for Indonesia operations

E-commerce solutions company, ​aCommerce​,which bring brands and retailers online in Southeast Asia said that it has has hired two new chief executives (CXOs) to lead its Indonesia arm. Norwegian international management executive Snorre Larstad​ will take the lead as aCommerce Indonesia CEO. Larstad previously worked as a chief strategy office for the Morris Group in… Read more »


Golden Agri invests $200m to build biodiesel plants in Indonesia

Singapore-based palm oil plantation firm, Golden Agri Resources Ltd (GAR), has unveiled its plan to invest up to $200 million to build two bio diesels in Indonesia. The plants with a combined capacity of 300,000 tons per annum will be built in in Marunda, North Jakarta and Tarjun in South… Read more »


Indonesia’s tower operator Protelindo secures $25.36m loan from DBS

PT Profesional Telekomunikasi Indonesia (Protelindo), subsidiary of tower operator PT Sarana Menara Nusantara Tbk (TOWR), controlled by the Djarum Group, and iForte Solusi Infotek – a leading micro-cell tower provider- has signed one-year, revolving loan facility agreement worth Rp350 billion ($25.36 million) with PT Bank DBS Indonesia. Sarana Menara’s Corporate Secretary Arif Pradana,… Read more »


Protectionism hindering M&A activity in Indonesia: Report

Protectionism is expected to inhibit mergers and acquisition (M&A) activity in Indonesia, with investment continuing to be hindered by a slow growth environment and government policies embedded by high level of protectionism sentiment. According to a Jakarta Globe report, M&A activity in 2014 was $9 billion, according to Accenture data, a decline from $16.8… Read more »


HM Sampoerna plans to raise $1.9b from rights issue in October

Indonesia tobacco producer PT Hanjaya Mandala Sampoerna Tbk (HMSP), unit of US based cigarette maker Philip Morris International Inc is planning to raises Rp26.7 trillion ($1.93 billion) from a rights issue of 269.72 million shares, in October. Based on brief prospectus issued by the company on Wednesday, four new shares will be… Read more »


Indonesia’s Waskita, Surya Semesta postpone bonds issue amid slowing demand

Indonesia state-own construction PT Waskita Karya Tbk (WSKT) and public listed property developer PT Surya Semesta Internusa Tbk (SSIA) have both delayed there respective bonds issue of  Rp1.5 trillion ($183 million) and $200 million, amid lower demand and global turmoil. Waskita, which had originally  planned to have bond issue this year – following… Read more »