Indonesia’s SMGR plans acquisition of a second Vietnamese cement firm

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Indonesia’s State-owned cement producer Semen Indonesia Group (SMGR) will acquire another Vietnamese cement company to further strengthen its foothold in the local market, tapping the opportunities as the ASEAN Economic Community (AEC) is formed. SMGR’s finance director Ahyanizzaman told Jakarta Post that the listed company had allocated a total capital expenditure… Read more »

Indonesia’s Lippo appoints banks to raise $200m for e-commerce foray; plans sale of $500m holdings in Link Net Holding

Indonesian conglomerate Lippo Group Monday said it has appointed Credit Suisse and Bank of America Merrill Lynch to raise funds to the tune of $200 million for its e-commerce foray. Lippo, controlled by the Riady family, has also chosen Rothschild as its financial adviser for the transaction, Reuters said in a report, while… Read more »


Indonesian e-classifieds marketplace Jualo raises seed funding

Indonesian marketplace business Jualo, which launched in 2014 has secured an undisclosed amount in seed funding from Mountain Kejora and Alpha JWC Ventures. Jualo claims to have facilitated $100 million in transactions since its launch. Founded by Dutch entrepreneur Chaim Fetter, Jualo operates a model thats a hybrid – combining the… Read more »


Livaza raises undisclosed seed round from East Ventures

Indonesian furniture ecommerce site Livaza has secured an undisclosed amount of seed funding from East Ventures. Co-Founder and CEO William Budiharsono disclosed that the capital will be spent on funding overall product development, in addition to technical and organisational improvements. The company said the seed round was a ‘six figure’ amount, indicating East Ventures’s investment is… Read more »


Otten Coffee raises Series A funding from East Ventures

Otten Coffee, an Indonesian online store specialising in coffee-related products, has raised an undisclosed amount of Series A funding from East Ventures. Initially started as offline store in 2012 operating in the Indonesian city of Medan by Robin Boe and Jhoni Kusno, Otten expanded its business into the e-commerce space to expand its customer… Read more »


Zeemi.tv raises $1 million in seed funding from DeNa & 500 Startups

Zeemi.tv, an Indonesian live-streaming entertainment startup, closed a seed funding round in excess of $1 million, led by the venture arm of Japanese firm  DeNA and 500 Startups. The capital will go towards marketing and technology improvements, in addition to mobile app development and the mobile user experience, according to CEO and founder Thomas Damek. DeNA runs Showroom, one… Read more »


Bistip secures seed funding from private equity investor

Indonesian peer-to-peer (P2P) courier service startup Bistip, short for Bisa Titip or “Can Entrust”, has secured an undisclosed amount of seed funding from a private equity investor, whose identity is currently anonymous. This latest injection of capita will also see Willy Ekasalim, co-ofounder and current CEO, replaced by Rohit Kanwar, former VP of customer management and analytics at… Read more »


Tees raises seed funds from 500 Startups and 8Capita

Tees, an Indonesian online marketplace retailing artwork-based merchandise, has secured an undisclosed amount of seed funding from 500 Startups, Singapore-based 8Capita and a group of angel investors. These include Chintaka Ranatunga, a venture partner in Sparkbox Ventures and Badroni Yuzirman. The capital from this seed round will fund expansion in Southeast Asia, talent acquisition to expand the team, the expansion… Read more »


IdblogNetwork secures undisclosed Series A funding

Indonesian digital advertising startup IdblogNetwork, founded in 2010, has secured Series A funding of undisclosed amounts, estimated to be between $500,000 to $1 million in value, from an anonymous investor, according to Tech in Asia. Focusing on the need for personal marketing and communication among advertisers, IdblogNetwork enables advertisers to connect and communicate… Read more »


SoftBank acquires 19.9% stake in Polaris owned Trikomsel in $120m deal, shares surge

Japanese telecom and media giant SoftBank Group that  is controlled by Masayoshi Son, has acquired a 19.9% stake in Indonesia’s PT Trikomsel Oke Tbk, an associate company of Singapore listed Polaris Ltd. Shares in Polaris Ltd, whose businesses involve distribution and retail of smart mobile devices and lifestyle electronics, surged 31.3 per cent Wednesday morning,… Read more »