Indonesia government may raise $1b in global bond issue by year-end

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The Indonesia government is looking at raising up to $1 billion through a global bond issue to foreign investors, under a private placement scheme, before the year-end, a government official said Friday. The government is also seeking as much as Rp 20 trillion ($1.47 billion) to help finance infrastructure projects that should… Read more »

Indonesia hopes its e-commerce ecosystem churns out a unicorn or two by next year

Fresh from a visit to the Silicon Valley’s tech entrepreneurial ecosystem, Indonesia’s Communication and Information Technology Minister Rudiantara is hoping that the country’s digital economy will produce at least two ‘unicorns’ in the e-commerce business in 2016. Unicorn is a popular term in the investment industry for a start-up company whose valuation… Read more »


Jakarta’s food-tech firm Qraved raises $8m Series B from Richmond Global Ventures, Gobi Partners

Jakarta-based food service venture, Qraved, has raised an $8-million Series B financing, co-led by Richmond Global Ventures and Gobi Partners, for the enhancement of the service’s mobile and web applications. The Series B round is also followed by new investor, GWC and existing investors Convergence Ventures, 500 Startups, Toivo Annus… Read more »


Indonesia telecom operator XL Axiata to raise $110m from Sukuk bonds

Indonesia mobile telecom operator PT XL Axiata Tbk (EXCL) has offered a five-series Islamic bond issue, called SUKUK, worth Rp 1.5 trillion ($110.29 million) with coupon rates ranging from 8.25% to 11.15%. XL’s chief financial officer Mohammed Adlan bin Ahmad Tajudin said on Thursday the funds raised from bond sale… Read more »


Google partners Indonesia’s Telkomsel, Axiata, Indosat on Internet access project

  Google, now known as Alphabet, has partnered with Indonesia’s three mobile operators, PT Indosat Tbk (ISAT), PT Telekomunikasi Selular and PT XL Axiata Tbk, to begin testing its Project Loon balloons to deliver internet access to remote regions of the country. Google officials, including co-founder Sergey Brin, and senior… Read more »


Mitsubishi in JV with Lippo Group unit to develop $100m luxury condo projects in Jakarta

Japan’s integrated business enterprise Mitsubishi Corporation and local developer PT Lippo Cikarang Tbk (LPCK) have signed a joint venture agreement to build two luxury condominium projects in Lippo Cikarang industrial estate in east of Jakarta at a total investment of $100 million. Mitsubishi will own 49%, through its unit PT Diamond… Read more »


Lippo Group to move REITs from Singapore to Indonesia: CEO

Indonesia’s conglomerate Lippo Group is planning to move its two Real Estate Investment Trusts (REITs), housed in Singapore, to its home country to take advantage of the tax breaks announced by Jakarta last week. Lippo Group currently has two portfolio REITS listed on Singapore Stock Exchange (SGX), Lippo Malls Indonesia Retail Trust and First… Read more »


Indonesia premium fashion e-commerce Paraplou Group shuts down

Paraplou Group, an Indonesian eCommerce retailer and brand partner, focused on premium fashion announced on Monday, that it has shut down its business. “Indonesia is a fashion-forward place and we believe the industry has a rosy future ahead of it. Unfortunately, the market for premium branded fashion is still young this… Read more »


Jakarta governor says GrabTaxi can operate luxury Lamborghini taxis if it pays tax

Jakarta Governor Basuki Tjahaja Purnama, popularly known as Ahok, has indicated that Indonesia may allow GrabTaxi to operate its luxury car service, using Lamborghini as taxis, as long as the company and the Lamborghini owners pay taxes as stipulated in the Tax Law. Suggested Story : Vietnam cab lobby urges state to deactivate ride-hailing… Read more »


Indonesia’s Trikomsel warns it will likely default on Singapore-issued bonds

Indonesian mobile phone retailer PT Trikomsel Oke Tbk (TRIO), partly owned by Singapore-listed Polaris and Japan’s SoftBank Group, has notified its bondholders that it will not be able to pay interest on two Singapore dollar bonds that are due in November and December, due to the company’s financial difficulties as a result of… Read more »