IFC to invest $75m in Bank Danamon Indonesia to develop Islamic trade financing


With this investment, IFC is targeting deepening of Islamic financing in Indonesia through new financial products and services designed to expand outreach.

Indonesian bond market attracting a rush of foreign capital

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.

Indonesia dealbook: WIKA pact with Saudi firm Amco; Waskita to issue $144m bonds

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.

Indonesia: LMIRT, First REIT team up to acquire two property 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).

Indonesia to now come out with fresh regulations on fintech business  

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.

Indonesia’s Mahaka Radio sets IPO price, to pursue acquisitions with proceeds

The company, owned by tycoon Thohir family, plans to use part of the proceeds to acquire three radio stations in Jakarta, Medan and Makassar.

Indonesia to ease foreign ownership rules in e-commerce, retail & power, but with curbs

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.

Indonesia bourse revives futures contract in blue-chip stocks after six-year gap

“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.”

Indonesia: Elevenia raises $50m from XL Axiata, SK Planet

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.

Indonesia’s XL Axiata plans to raise funds via rights issue

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.