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

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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 »


Indonesian online marketplace Bobobobo secures Series A funding from Emtek

Bobobobo, an Indonesian online marketplace, has closed a series A funding round led by PT Kreatif Media Karya (KMK), a subsidiary of Emtek Group, a major Indonesian media conglomerate. The amount for the Series A funding was undisclosed, reflecting a prevailing trend in Indonesia towards funding secrecy. Launched in 2013, the Bobobobo investment may… Read more »


LeapFrog leads $45m investment in Indonesia’s Reliance Capital Management

Private equity firm LeapFrog Investments has lead a $45 million investment in Indonesian financial services provider Reliance Capital Management. This marks the emerging markets investor’s first deal in Indonesia. The investment is aimed at taking the company public according to Reuters report, and will see LeapFrog, the Netherlands Development Finance Company and reinsurer PartnerRe… Read more »


South Korea’s Kakaotalk discussing acquisition of Path: Report

South Korea’s Kakaotalk is in discussions with social networking application Path regarding the trade-sale of Path Classic to KakaoTalk, With unknown terms, the potential acquisition would grant KakaoTalk’s parent company Daum Kakao a major foothold in Indonesia, where Path is a leading social app, according to a report from Re/code, Currently, Path has 30… Read more »


ANZ said to revive talks to sell $924m Bank Panin stake

Australia & New Zealand Banking Group Ltd (ANZ) has begun fresh talks for selling its 39 per cent stake in PT Bank Pan Indonesia, after discussions on this divestment had made no progress for over a year, and Japan’s Mizuho Financial Group Inc, may be interested in the deal, news agency… Read more »


Otto Marine acquires stakes in RSOV, RY Offshore for $8m

Otto Marine Ltd, an offshore marine group specialising in the sub-sea and deep sea segment, has entered into two stock purchase agreements for the partial acquisitions of RSOV Marine Pte Ltd and RY Offshore Pte Ltd, for around $8 million. The group is headquartered in Singapore, with a shipyard located in… Read more »