Indonesia’s Kimia Farma to invest $71m in new pharmaceutical plant

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Indonesian state-owned pharmaceutical company PT Kimia Farma Tbk (KAEF) is planning to invest Rp978 billion ($70.87 million) in a new pharmaceutical manufacturing facility at Banjaran Industrial Estate, Bandung, West Java.  The new plant will cater to the growing domestic demand for herbal medicines. The construction for the new plant is expected to… Read more »

IFC, Asia Green Capital Partners to jointly develop wind farm in Indonesia

International Finance Corporation (IFC), a member of the World Bank Group, and Asia Green Capital Partners Pte Ltd, a renewable-energy developer and investment company, will be co-developing the first wind-power project in Indonesia’s South Sulawesi province. On Aug. 17, as part of the celebrations for the 70th anniversary of Indonesia’s independence,… Read more »


Peer-to-peer mobile payment app Xendit lauches ops in Indonesia

Singapore based Xendit, a  money-transfer service, has launched its peer-to-peer (P2P) mobile payment application in Indonesia. Xendit, a mobile wallet that allows consumers to pay each-other without fees, plans to leverage on the growing usage of smartphones and internet penetration in the country. The company is pitching itself as a private money-transfer service that is competing with companies… Read more »


Singapore’s PNE Micron Holdings acquires 100% stake in Indonesian subsidiary

Singapore’s PNE-Sino PTE Ltd, a wholly owned subsidiary of PNE Micron Holdings, and Liew Nyoh Wah, a director of the company, are set to increase their respective holding in PT PNE Indonesia – a local trade & transportation services – by acquiring 4.57 per cent (43,518 shares) from Abdul Rasid Bin Chaichok. The… Read more »


Holcim Indonesia, DKJ Jakarta sign $5.5m infrastructure deal

Indonesia based cement manufacturer PT Holcim Indonesia Tbk (SMCB), and the Jakarta provincial government (DKI Jakarta) have signed two  infrastructure related agreements. The agreements that involve road repair in the capital city using the super material SpeedCrete, has total contract value of $5.5 million. The agreement was signed last week between two parties. The… Read more »


Indonesian construction co Hutama Karya raises $35.11m debt for Trans Sumatera toll road project

Indonesia’s state-owned infrastructure financing firm PT Sarana Multi Infrastruktur (SMI) has signed an agreement to provide loan worth Rp481 billion ($35.11 million) to the state-owned construction firm PT Hutama Karya for the construction of Medan-Binjai toll road section, which is part of the Trans Sumatera toll road network. Chief executive… Read more »


Indonesian startup Yogrt raises $3m Series A round

Indonesian startup Yogrt,  a location-based social networking application, has secured $3 million from Centurion Private Equity and Linear Ventures.  Kongko Digital is the Singapore-based parent company of the app. Both investment firms are known to be the backers of a number of successful technology, media and telecommunication companies in the Asia Pacific (APAC) market… Read more »


aCommerce recruits new CXOs for Indonesia operations

E-commerce solutions company, ​aCommerce​,which bring brands and retailers online in Southeast Asia said that it has has hired two new chief executives (CXOs) to lead its Indonesia arm. Norwegian international management executive Snorre Larstad​ will take the lead as aCommerce Indonesia CEO. Larstad previously worked as a chief strategy office for the Morris Group in… Read more »


Golden Agri invests $200m to build biodiesel plants in Indonesia

Singapore-based palm oil plantation firm, Golden Agri Resources Ltd (GAR), has unveiled its plan to invest up to $200 million to build two bio diesels in Indonesia. The plants with a combined capacity of 300,000 tons per annum will be built in in Marunda, North Jakarta and Tarjun in South… Read more »


Indonesia’s tower operator Protelindo secures $25.36m loan from DBS

PT Profesional Telekomunikasi Indonesia (Protelindo), subsidiary of tower operator PT Sarana Menara Nusantara Tbk (TOWR), controlled by the Djarum Group, and iForte Solusi Infotek – a leading micro-cell tower provider- has signed one-year, revolving loan facility agreement worth Rp350 billion ($25.36 million) with PT Bank DBS Indonesia. Sarana Menara’s Corporate Secretary Arif Pradana,… Read more »