Daum Kakao parachutes into South East Asia by acquiring Path’s social media services


South Korean’s dominant messaging app Daum Kakao has acquired two services of San Franciso-based mobile messaging app Path for an undisclosed sum, The deal is significant for South East Asia as a bulk of Path’s customers are in this region, and more than 50% of its total active customers of around 10… Read more »

Indonesia’s online shop aggregator Kleora raises seed funding, launches Android app

Kleora, an Indonesian marketplace and an online shop aggregator for women’s products based in Jakarta, has secured an undisclosed amount of seed funding from Japanese VC firm Rebright Partners. Anonymous angel investors also participated in this seed round. The seed funding will be deployed as working capital, rather growth capital, according to Kleora. Founded… Read more »

Indonesia’s Pertamina bids for majority stake in SEA refinery

Indonesia’s state energy company Pertamina is bidding for a majority stake in a refinery in Southeast Asia, as the firm works towards increasing domestic fuel supply and reduce costs. Reuters reported, quoting Pertamina Refineries director Rachmad Hardadi that Pertamina intends to acquire a 51 per cent stake in that refinery. The targeted refinery has a processing… Read more »

Indonesian GDP to surpass Russia, Australia by 2023: Report

Indonesia, is set to become a trillion dollar economy as early as 2017, according to a CNBC report citing a forecast by US-based research firm IHS Global Insight. The outlook is based on the country’s current GDP growth rate of around 5.4 percent annually, with continued robustness over the next few years…. Read more »

Indonesia hindering ASEAN economic integration: Report

Indonesia, with a gross domestic product (GDP) of $870 billion and the largest market size in the region – given its huge population of about 250 million-  is  the largest ASEAN economy. It may be hindering the implementation of the ASEAN Economic Community (AEC), according to Malaysian news portal The Star…. Read more »

PE firms postpone $300m divestment in Indonesian tower operator STP

Private equity firms Carlyle Group and PT Kharisma Indah have pulled out of a planned sale of shares, that could have raised between $255 million to $303 million,  in Indonesia’s third largest telecom-tower operator in terms of towers owned, PT Solusi Tunas Pratama (STP), citing ‘weak market conditions’. The company… Read more »

Prospects and pitfalls in a growing Indonesia

The pace of expansion in Indonesia’s economy has slowed recently. Nevertheless, the infrastructure space and the construction industry is set to see a continued growth, with investment in infrastructure projects to be the main driver of growth. This kind of growth comes significant pitfalls that need to be factored into calculations, according… Read more »

Indonesian fashion e-commerce site for women 8wood secures seed funding from Ideosource

Indonesia-based fashion e-commerce site for women, 8WOOD, has raised an undisclosed amount of seed funding from venture capital firm Ideosource. The latest injection of capital will be used for recruitment, marketing and product development. “We are looking for investors that are able to give mentorship as well as partners to exchange thoughts… Read more »

Ramba to raise $13.4m through private share placement to Indonesian tycoon

Singapore stock exchange listed, and Indonesia-focused oil and gas exploration and production company, Ramba Energy Limited, said it plans to raise S$17.9 million ($13.4 million) by placing out new shares to Indonesian tycoon and philanthropist Dato Sri Tahir. “The group has agreed to place a total of 68,000,000 shares priced… Read more »

Indonesian e-commerce startup Kudo raises ‘seven digit’ Series A round led by GREE, East Ventures

Indonesia’s Kudo, an online-to-offline (O2O) technology startup based in Jakarta, Monday said it had bagged a ‘seven-digit funding round’ led by venture capital firms GREE and East Ventures. The other investors in this round included 500 Startups and Singapore-based IMJ Investment Partners. Kudo had received seed funding from East Ventures… Read more »