By Vincencia NLS
With this investment, IFC is targeting deepening of Islamic financing in Indonesia through new financial products and services designed to expand outreach.
The allure of high yielding Indonesian bonds, which have long been a magnet for offshore investors clamouring for a slice of Southeast Asia’s biggest economy, have been further burnished by aggressive monetary easing by global policymakers and negative yields in some debt paper in Europe and Japan.
Indonesian state owned construction firm PT Wijaya Karya Tbk (WIKA) ties up with a Jeddah-based construction firm Adil Makkah Contracting Corporation to launch its operations in Saudi Arabia, while another construction firm PT Waskita Karya Tbk (WSKT) targets to double net profit, fueld by government toll road and transmission projects.
Singapore’s LMIRT Management Ltd (LMIRT) and First Real Estate Investment Trust (First REIT) entered into a joint arrangement to acquire Siloam Hospitals Yogyakarta and a retail mall component known as Lippo Plaza Jogja (LPJ) in Yogyakarta from their sponsor PT Lippo Karawaci Tbk (LPKR).
Currently, the issue of regulating fintech startups does not clearly fall under the purview of any single authority. While technology startups are regulated by the communication ministry, those engaged in financial services are governed by the FSA.
The company, owned by tycoon Thohir family, plans to use part of the proceeds to acquire three radio stations in Jakarta, Medan and Makassar.
The government will also allow foreign investors to fully own e-commerce businesses provided their investment value is beyond Rp 10 billion ($726,745). Investments below Rp 10 billion in startups or SMEs (small-medium enterprises) is prohibited.
“With this contract, investors will be more interested to take position even in the bearish market. In the end, it will increase the transaction volume in IDX.”
Stepping on its second year, online shopping Elevenia has raised fresh funding US$50 million from Indonesia’s second largest mobile operator PT XL Axiata Tbk (EXCL), with participation from SK Planet — a subsidiary of South Korea’s largest mobile carrier SK Telecom.
PT XL Axiata Tbk (EXCL), the third largest telecom company in Indonesia which is 66.45 owned by Malaysia’s Axiata Group, unveils its plan to launch rights issue plan, the proceeds of which will be used to repay US dollar shareholders loan worth $500 million.