Indonesia: State-owned drug maker Kimia Farma to raise $146m via rights issue

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Indonesia state-controlled pharmaceutical company PT Kimia Farma Tbk (KAEF) is planning to raise Rp2 trillion ($146.04 million) through a rights issue in the fourth quarter of 2016. The company will issue new shares amounting to 1.1 billion units, or 20 per cent of its paid-up capital, at Rp1,000 apiece. The proceeds will… Read more »

Indonesia, Korea Aerospace ink $7b preliminary contract for fighter jet

Government of Republic Indonesia and Korea Aerospace Industries Ltd  have signed a preliminary contract worth 8.7 trillion won (around $7.4 billion) to jointly develop a new fighter jet. The projects, called KF-X, proposes to develop the KF-16-class warplane to replace the aging fleet of F-4s and F-5s by 2025. On October… Read more »


Uber plans to set up company in Indonesia by early 2016

After running its business through representative offices across the countries in South East Asia, the San Fransisco-based taxi hailing app  Uber is finally planning to set up a company in Indonesia. This marks a fundamental shift of operating strategy for Uber in SouthEast Asia. The company that is expected to… Read more »


Malaysia, Indonesia to spend $5m each on joint palm council’s initial operations

Malaysia and Indonesia will invest $5 million each in the initial operations of a new joint palm oil body, whose tasks will include stabilising prices and managing stock levels, the countries announced on Saturday. The council secretariat will be located in Jakarta and its membership will be extended to all… Read more »


Uber Indonesia introduces UberChopper service in Jakarta

Uber Technologies, Inc. has introduced UberChopper service in Jakarta, in cooperation with the chartered helicopter and aircraft operator Premiair. As part of the introduction of the service, Uber has launched a special promotional program, that includes free helocopter ride, an UberBLACK pick up . “Premiair is excited with UberChopper program, a collaboration between… Read more »


Indonesia Abeerdeen to launch Islamic mutual funds, eyes AUM $583.94m by 2019

Indonesia fund manager PT Aberdeen Asset Management is preparing to sell the first Islamic mutual funds with offshore assets. The firm also hoping to be one of the country’s top five fund managers by assets under management (AUM) Rp 8 trillion ($582.94 million) in the next five years. “The potential… Read more »


Indonesia: Buyung Poetra, producer of rice brand Topi Koki, eyes $26 from IPO

PT Buyung Poetra Sembada, Indonesia rice producer behind the Topi Koki brand, plans to raise up to Rp 355 billion ($25.78 million) from its  initial public offering (IPO) in December, said a company official. PT Bahana Securities will act as underwriter for the offering, which is scheduled for December 10-11 and it… Read more »


Indonesia: Mandiri Capital in JV with S Korea’s BC Card for electronic data capture ops

PT Mandiri Capital, unit of Indonesia state-own lender PT Bank Mandiri Tbk (BMRI), will form a joint venture firm with BC Card from South Korea to run the electronic data capture (EDC) operations of the bank. Mandiri Capital will own 51% in the JV while BC Card will hold 49%…. Read more »


Venturra Capital leads Series A investment in Indonesian online beauty platform Sociolla

Indonesia-based cosmetics and beauty e-commerce engine Sociolla has secured an undisclosed series A investment from Venturra Capital–led consortium. Venturra Capital said, East Ventures  too had participated in the investment round. When DEALSTREETASIA asked about the funding details, Sociolla CEO John Rasjid declined to disclose the amount. “As for the figures for the investment, we… Read more »


Japan’s printing startup Raksul leads $400k seed round in Jakarta’s Prinzio

Japanese commercial printing outsourcing startup Raksul is expanding into Indonesia by leading a $400,000 seed investment alongside East Ventures into is Jakarta-based Prinzio. East Ventures is contributing a $50,000 ticket while Raksul will invest the balance. Following this, Raksul gains a 20 per cent equity interest in Prinzio. This reflects a trend of venture-backed… Read more »