Uber takes cash payment option to Indonesia


After India and the Philippines in Asia, global ride-hailing cab platform Uber is taking its cash payment option to users in Indonesia. Uber, which currently operates in the Bandung area in West Java, has responded to a market where cash is still the dominant payment option. In the press statement released… Read more »

Indonesia: Venturra Capital invests in HK precision medicine firm Prenetics

Lippo Group–backed Venturra Capital, which launched a $150-million fund recently, has invested in Hong Kong-based Prenetics, a personalised & precision medicine life sciences company. This is possibly the fund’s first investment since its launch last month. The quantum of investment was undisclosed. The VC fund has a mandate to invest in technology… Read more »

Indonesia: Telkomtelstra appoints Erik Meijer as president director

Telkomtelstra, the Jakarta-based joint venture between Australian Telstra and PT Telkom Indonesia Tbk (TLKM), has announced the appointment of Erik Meijer as the new president director. His appointment takes effect on December 1, 2015. Meijer will replace Phill Sporton who has led Telkomtelstra since its inception and will be returning… Read more »

Indonesia regulator to ink bilateral pacts with 6 nations to enable banks to expand in Asia

Indonesia’s financial regulator Financial Services Authority (OJK) is looking at entering into bilateral ‘reciprocity’ agreements with six countries including Singapore, Australia, Myanmar, Vietnam, Cambodia and India next year, a move that will allow its banks easier access as they expand in Asia. The OJK has already entered into similar arrangements with Bank Negara… Read more »

Indonesia: Limited impact from ride-hailing services, but taxi operators may go the ‘app’ way to compete

The introduction of app-based taxi hailing services such as GrabTaxi, Go-Jek and Uber in the Indonesian market has had a limited impact on the performance of conventional taxi companies, with two of the biggest operators in the country showing conflicting results for the first nine months of the fiscal. While the Blue Bird Group… Read more »

Indonesia: Bank JTrust, LPS lose $156.2m lawsuit against Nomura unit

PT Bank JTrust Indonesia Tbk (BCIC)  (previously known as the Bank Mutiara) and the Indonesian Deposit Insurance Corporation (LPS) have lost their final appeal in a $156.2-million lawsuit against Nomura International Plc subsidiary, Tarquin Ltd, in a Swiss court, a statement issued by Weston International Capital Ltd, a Mauritian closed investment company,… Read more »

Indonesia: Mitra Komunikasi’s smartphone plant; Ericsson to supply 4G equipment

In a few developments in the telecom space, Indonesia’s listed e-commerce company PT Mitra Komunikasi Nusantara Tbk (MKNT) plans to construct its first smartphone assembly plant in Jakarta Greater Area in 2016, while Sweden-based vendor Ericsson is to provide equipment to PT Telkomunikasi Selular (Telkomsel) and PT Indosat Tbk (ISAT) for… Read more »

Indonesia state banks’ consortium in talks to buy listed mobile operator Telkom’s ATM service arm

Indonesia’s bank consortium, comprising four lenders under the umbrella of State Bank Association (HIMBARA), is understood to be in talks to acquire ATM service provider PT Sigma Citra Caraka (LINK), a unit of public listed cellular operator PT Telekomunikasi Indonesia Tbk (Telkom), to operate a joint network of automatic teller machines (ATMs). The move… Read more »

Indonesia government may raise $1b in global bond issue by year-end

The Indonesia government is looking at raising up to $1 billion through a global bond issue to foreign investors, under a private placement scheme, before the year-end, a government official said Friday. The government is also seeking as much as Rp 20 trillion ($1.47 billion) to help finance infrastructure projects that should… Read more »

Indonesia hopes its e-commerce ecosystem churns out a unicorn or two by next year

Fresh from a visit to the Silicon Valley’s tech entrepreneurial ecosystem, Indonesia’s Communication and Information Technology Minister Rudiantara is hoping that the country’s digital economy will produce at least two ‘unicorns’ in the e-commerce business in 2016. Unicorn is a popular term in the investment industry for a start-up company whose valuation… Read more »