Indonesia’s Alfamart to expand retail footprint in the Philippines


PT Sumber Alfaria Trijaya Tbk (Alfamart), an Indonesia based convenience store chain operator, is planning to expand its footprint in the Philippines to about 160 stores by the end of this year. The move is expected to help strengthen the company’s presence in the south east Asian region and help boost income from exports. As of August,… Read more »

Indonesian govt scraps $5.3b high-speed train project

The Indonesian government has decided to drop the high-speed train project, with a total outlay Rp 75 trillion ( $5.37 billion), that would have linked the capital city of Jakarta and Bandung town in West Java. Instead, the government is now looking at the medium-speed train service for the route. The decision… Read more »

Taiwanese firms plan to shift production to Indonesia

A host of Taiwanese firms are looking at relocating their industrial plants to Indonesia and they could be seen investing up to $2 billion over the next five years in the region, according to a senior Indonesian industry ministry official. Some of the sectors where Indonesia could see fresh investments are in the… Read more »

Twitter appoints new head for Indonesia ops

US Twitter Inc. has announced Roy Arnold Simangunsong as the new head of business for Indonesia, replacing Rick Mulia who returned to Wego in April after serving for less than a year. A 19 year veteran in the technology and digital advertising fields, Roy was previously the CEO of Okezone, an online… Read more »

Indonesia’s Bumi Serpong Damai sets aside $141.2m for shares buyback

Indonesia’s largest realty company by market capitalization PT Bumi Serpong Damai Tbk (BSDE) said it has set aside Rp2 trillion ($141.17 million) to buy back its shares from secondary market,  on grounds that its shares price has been undervalued following recent weeks market rout. PT Bumi Serpong Damai Tbk has joined… Read more »

Indonesia’s Instagram for food app Sembako Social to launch in November

Sembako Social, an Indonesian startup, is planning to roll out an app that will allow foodies to share photos and buy food through their smartphones. Comparable to Instagram, the Sembako app is attempting to fuse mobile commerce and social media in the food and beverage sector. The app will be launched in November this… Read more »

Undeterred by downturn, 4 Indonesia firms seek to raise $607m in Q4 from bonds sale

Undeterred by financial market turbulence, four Indonesian financial companies are seeking funds from bonds sale in the fourth quarter (Q4) 2015 for a combined amount of Rp8.5 trillion ($607.14 million). State owned export-import financing agency Indonesia Eximbank and publicly listed financing firm PT Adira Dinamika Finance Tbk (ADMF), are set to raise… Read more »

Indonesia offers tax incentives to Unilever Oleochemical, others to help boost economic activity

The Indonesian government has awarded tax incentives to four companies – PT Unilever Oleochemical Indonesia with investment value of Rp1.15 trillion ($81.92 million), PT Petrokimia Butadine Indonesia with investment value of $120 million, PT Energi Sejahtera Mas Rp 2.8 trillion ($199.64 million) and PT Ogan Komering Ilir Pulp and Paper Mills… Read more »

Taiwanese handset makers Arima, Asus and HTC set to assemble smartphones in Indonesia

Taiwanese companies Arima Communications Corp, Asus and HTC Corporation will join other handset makers looking to tap the huge potential of Indonesian market by assembling handsets in the country. The three mobile phone manufacturer projects are estimated to require hundred millions dollar of investment. Director of Economic Division of Taiwan Economic Trade Office… Read more »

Indonesia’s Aneka Tambang seeks to raise $376.2m via rights issue

Indonesian nickel and gold miner PT Aneka Tambang Tbk (ANTM) aims to raise Rp5.3 trillion ($376.2 million) through a rights issue. The funds raised from this issue will be used to fund for its ongoing projects, said the company. Aneka Tambang will sell 14.12 billion units of new shares, or 59.7… Read more »