ANZ said to revive talks to sell $924m Bank Panin stake


Australia & New Zealand Banking Group Ltd (ANZ) has begun fresh talks for selling its 39 per cent stake in PT Bank Pan Indonesia, after discussions on this divestment had made no progress for over a year, and Japan’s Mizuho Financial Group Inc, may be interested in the deal, news agency… Read more »

Otto Marine acquires stakes in RSOV, RY Offshore for $8m

Otto Marine Ltd, an offshore marine group specialising in the sub-sea and deep sea segment, has entered into two stock purchase agreements for the partial acquisitions of RSOV Marine Pte Ltd and RY Offshore Pte Ltd, for around $8 million. The group is headquartered in Singapore, with a shipyard located in… Read more »

Singapore’s Impiro acquires 95% of Indonesian clean energy firm

Singapore-incorporated full-service investment firm Impiro will take over PT Contained Energy Indonesia (Contained Energy) through a cash-and-stock transaction, which will see Impiro acquire a 95 per cent stake in the renewable energy company. Impiro initially invested in Contained Energy in November 2014, purchasing a 45 per cent stake. After examining the… Read more »

Evoucher secures pre-Series A funding from VITI

Evoucher, an Indonesian daily deals provider, has secured an undisclosed amount of pre-Series A funding round from Value in Technology Indonesia (VITI). Having bootstrapped for the past five years, the funding represents its first external investment. VITI, is a gaming firm based in South Korea with more than 15 years of experiences in the Asia… Read more »

Deltamas reviews IPO plans for $200m listing: Report

Indonesian property developer Puradelta Lester (Deltamas) has initiated investor education ahead of an initial public offering (IPO) estimated to raise roughly $200 million, said a report in FinanceAsia, This capital would fund industrial parks infrastructure, with up to 10.8 billion primary shares — approximately 20 per cent of the total enlarged share capital… Read more »

Bukit Asam takes over nearly entire stake in mining JV co set up with Rajawali

State-owned coal miner PT Bukit Asam announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created with PT Rajawali Asia Resources, part of the Rajawali Group. In an announcement published on the Indonesia Stock Exchange, Bukit Asam corporate secretary Joko Pramono… Read more »

Indonesia: Saratoga to acquire 51% in taxi co Express Group

Jakarta-based PT Saratoga Investama Sedaya is in the midst of acquiring a controlling stake in taxi operator Express Group from PT Rajawali Corpora, a move that will strengthen it investment portfolio. Saratoga portfolio director Andi Esfandiari said in a statement to the local exchange, on Friday, that the firm had… Read more »

Indonesia’s SMGR plans acquisition of a second Vietnamese cement firm

Indonesia’s State-owned cement producer Semen Indonesia Group (SMGR) will acquire another Vietnamese cement company to further strengthen its foothold in the local market, tapping the opportunities as the ASEAN Economic Community (AEC) is formed. SMGR’s finance director Ahyanizzaman told Jakarta Post that the listed company had allocated a total capital expenditure… Read more »

Indonesia’s Lippo appoints banks to raise $200m for e-commerce foray; plans sale of $500m holdings in Link Net Holding

Indonesian conglomerate Lippo Group Monday said it has appointed Credit Suisse and Bank of America Merrill Lynch to raise funds to the tune of $200 million for its e-commerce foray. Lippo, controlled by the Riady family, has also chosen Rothschild as its financial adviser for the transaction, Reuters said in a report, while… Read more »

Indonesian e-classifieds marketplace Jualo raises seed funding

Indonesian marketplace business Jualo, which launched in 2014 has secured an undisclosed amount in seed funding from Mountain Kejora and Alpha JWC Ventures. Jualo claims to have facilitated $100 million in transactions since its launch. Founded by Dutch entrepreneur Chaim Fetter, Jualo operates a model thats a hybrid – combining the… Read more »