Indonesia’s Len inks deal with Singapore, China firms to produce fiber optic cables

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Indonesia’s state owned PT Len Industri has signed an agreement with Newstar Energy International Pte Ltd (NEI) of Singapore and Ahcof International Development Co Ltd of China to develop an optic fiber cable plant in Technopark in Subang, West Java. The memorandum of understanding (MoU) to build the fibre optic plant… Read more »

Indonesia’s Bank Mandiri partners ASCO, Tunas for multifinance biz JV

PT Bank Mandiri Tbk (BMRI), the largest bank by assets in Indonesia, is planning to tap the growing automotive credit market through a joint venture (JV) with a multifinance firm PT Mandiri Utama Finance (MUF). The bank plans to collaborate with automotive distribution company ASCO Automotive and Tunas Group for establishing the JV company. In… Read more »


Indonesia’s MNC Group to consolidate pay TV, broadband biz under new holding co

Indonesian conglomerate MNC Group, owned by tycoon Hary Tanoesoedibyo, is planning to set up a new entity that will serve as a holding company for its pay TV and broadband businesses in a bid to better synergize the two, a local media reported. Also Read: CVC, First Media looking to divest… Read more »


Garuda Indonesia partners with CFM International for airline’s 737 MAX Fleet

State-run flag-carrier PT Garuda Indonesia Tbk (GIAA) and CFM International have announced the expansion of their long-term partnership, under which, CFM will provide support for the airline’s future fleet revitalization program. Under the arrangement, Garuda is committed to purchase 50 Boeing 737 MAX 8 aircraft, which will be powered by… Read more »


Indonesia’s BRI takes baby steps for Asia expansion with Singapore office

PT Bank Rakyat Indonesia Tbk (BBRI) or Bank BRI, Indonesia’s oldest commercial bank, is now expanding its network to Singapore, in order to strengthen its banking business network in Asia. BRI’s newest overseas branch is located at the heart of Singapore, at OUE Bayfront, 50 Collyer Quay. The Singapore office… Read more »


NTT Com buys Cyber CSF to boost Indonesian datacentre presence

Japan’s NTT Communications Corporation (NTT Com), the ICT solutions and international communications business within NTT (NYSE:NTT), announced that it has signed an agreement to wholly acquire PT Cyber CSF (Cyber CSF), a data center service provider headquartered in Jakarta, Indonesia. The value of the deal was not disclosed. NTT Com said… Read more »


Indonesian property firm Bumi Serpong Damai eyes $560m pre-sales in 2015

Indonesia’s PT Bumi Serpong Damai Tbk (BSDE), a property unit of Sinar Mas Land is aiming to book Rp7.5 trillion ($559.70 million) in property pre-sales for 2015, the company said in a statement. The target is 15% higher than last year’s results Rp6.5 trillion. In first half (H1) of 2015, the company… Read more »


London-based Aggreko to invest additional $40m in Indonesia

London-listed company Aggreko, which is in the business of providing temporary power and temperature control services, has announced a further investment in Indonesia totaling $40 million. The company currently operates in Indonesia through its subsidiary PT Aggreko Indonesia.  At present, it has around 210 megawatts (MW) of fleet in operation in… Read more »


Indonesia President to discuss Batam, Bintan development with Singapore

Republic of Indonesia President Joko Widodo will discuss the plans for development of Batam and Bintan Karimun, during his state visit to Singapore, which starts today. He said that his government will support Singapore’s government’s, as well as private investment for the two areas. “I will focus on discussing about the development… Read more »


Sydney-based Crown Group to invest $7b in Jakarta realty, launches $429m luxury project in Australia

Crown Group Holdings, a Sydney-based property firm found by Indonesian born Iwan Sunito, has launched a Rp5.75 trillion ($429.10 million) property project Infinity, which is located at the Green Square, Sydney, Australia. The group also plans to invest around Rp100 trillion ($7 billion) in Jakarta to cater to the higher demand for luxury property… Read more »