Bank Rakyat Indonesia eyes securities house, completes BRingin Life acquisition


PT Bank Rakyat Indonesia Tbk (BBRI), the largest micro bank in the world, is on the lookout to acquire a securities firm to expand its business, a senior bank official said. “We want to have a securities firm. There are a number of potential targets that we are assessing,” vice-president… Read more »

S&P warns of defaults after Indonesia telecoms firm Trikomsel seeks debt restructuring

Rating agency Standard & Poor’s warned on Friday of potential defaults by Indonesian firms after mobile phone retailer PT Trikomsel Oke Tbk prepared to meet lenders to restructure around $155 million of debt. Trikomsel said earlier this week it may restructure S$215 million in outstanding bonds, which S&P said would be… Read more »

Indonesia sees 17% growth in FDI; Singapore tops inflows

Indonesia has recorded 16.7 per cent growth in investment, both domestic and overseas, in the nine months to September reaching Rp 400 trillion ($29.07 billion) compared to Rp 342 trillion in the same period last year. According to data from the Indonesia National Investment Coordinating Board (BKPM), the realized domestic investment in… Read more »

Indonesia offers incentives to spur setting up of REITs

Indonesia on Thursday announced tax incentives aimed at getting companies to revalue their fixed assets and to create real estate investment trusts (REITs). The moves are the latest in a series of policy changes the government has been rolling out since last month in a bid to spur economic growth,… Read more »

Indonesia state energy firm Pertamina to form JVs with Saudi Aramco, Japan’s Nippon for $10b refinery projects

Indonesia’s state-owned energy firm PT Pertamina is forging joint ventures with global oil & gas global players, Saudi Aramco and Japan JX Nippon, to build two refineries at an investment $10 billion. Speaking at a press conference, CEO Dwi Sutjipto said, Pertamina will hold the controlling stake in both the projects. In Balikpapan… Read more »

Indonesian PE Syailendra Group, Egypt’s Orascom, workers agency tie up for $250m affordable housing project

Indonesian private equity company Syailendra Group, Orascom Housing Communities (OHC) of Egypt and workers’ social security agency BPJS Ketenagakerjaan have signed a memorandum of understanding (MoU) to develop an integrated affordable town for Indonesia’s low-income group on a 200-hectare land in West Java at a total investment of $200-$250 million. Suggested Story : Falcon… Read more »

State-owned firms Inalum, Antam can buy 10.64% in Freeport Indonesia: SOE minister

The Indonesian State Enterprise Ministry (SOEs) has assigned two state owned firms PT Indonesia Asahan Alumunium (Inalum) and nickel & gold producer PT Aneka Tambang Tbk (ANTM), also known as Antam, as a lead consortium to purchase 10.64 per cent shares of PT Freeport Indonesia. Freeport Indonesia is currently 90.64… Read more »

Indonesia’s Steve Christian and RMKB Ventures invest in printing vendors Printerous

Steve Christian, founder of Indonesia’s online media firm KapanLagi Network has invested in Jakarta-based startup printing vendor Printerous. The undisclosed funding round for Printerous also saw participation by Grace Tahir – a member Mayapada Group and RMKB Ventures. “We put some investment in Printerous, but we have a deal not to disclose the… Read more »

Indonesia plans to scrap e-commerce from negative investment list, move will allow more foreign funding for online businesses

The Indonesian government plans to scrap e-commerce business from its negative investment list, a move that will allow foreign investors to enter this industry, a government official told DEALSTREETASIA. The new rule could come into effect in early 2016. Indonesia’s Negative Investment List issued in May 2014 bars or limits foreign… Read more »

Men’s online fashion platform Maskoolin gets funding from Indonesia’s Blue Bird Group shareholder

Indra Priawan Djokosoetono, a shareholder and a family member of Indonesia’s largest taxi company Blue Bird Group, has invested in a pre-series A funding round in men’s fashion e-commerce platform Maskoolin. The financial details of the fund-raise were not disclosed but it is speculated to be in the region of $1… Read more »