Indonesian construction firm Totalindo taps IPO route to raise $120m

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It could be the country’s largest issue this year.

Indonesia: Stockbit raises new round from 500 Startups, other investors

Indonesia-based social network for stock market investors, Stockbit, announced Tuesday that it has raised a pre-Series A round of investment from 500 Startups and other existing backers, including Ideosource and Braavos Ventures. The funding, which is of an undisclosed sum, will be used for general business expansion. Stockbit has been… Read more »


Mitsubishi, Nissan full merger not on the table: Chairman Carlos Ghosn

A full merger between Japanese car makers Mitsubishi Motors Corp (MMC) and Nissan Motor Co Ltd is not on the table, Carlos Ghosn, chairman of both firms, said on Tuesday. “Full merger is not on the table. We want Mitsubishi to reform itself,” said Ghosn, who was attending the opening… Read more »


Indonesia’s East Ventures partners SGInnovate to create joint startup launchpad

East Ventures’ EV Hive will be connected with SGInnovate’s BASH.


Exclusive: Indonesian kebab chain Baba Rafi in talks to sell large stake

Experts peg the valuation of the company to be as high as $10-15 million.


Indonesia: Poultry firm Charoen Pokphand to acquire local 7-Eleven operator

Publicly-listed Charoen Pokphand Indonesia has announced a plan to acquire the local operator of 7-Eleven convenience stores, Modern Sevel Indonesia, for Rp 1 trillion ($75 million). The purchase is expected to be completed in June, Charoen said in a statement. Modern Sevel has a total of 175 7-Eleven outlets as… Read more »


Saratoga Group’s Sandiaga Uno elected Jakarta’s deputy governor, company stock up

Sandiaga Uno, one of the owners of Indonesia-focused Saratoga Capital, has been elected deputy governor of Jakarta. Uno was running with former education minister Anies Baswedan and secured a comprehensive victory, according to quick count polls on Wednesday. Publicly-listed Saratoga Investama Sedaya enjoyed almost 10 percent hike, before going back… Read more »


Pence announces 11 deals valued $10b between U.S., Indonesian companies

Vice President Mike Pence announced 11 major deals valued at more than $10 billion between U.S. and Indonesian companies.


Saratoga-backed MGM Bosco aims to grow three fold in next two years, plans 2020 listing

Saratoga-backed MGM Bosco plans to invest over $35m in Indonesia for expansion.


Indonesia: Kresna acquires 17.6% stake in digital kiosk firm M Cash Integrasi

Publicly-listed Kresna Graha Investama on Tuesday announced that its unit Kresna Usaha Kreative (KUK), also known as Kresna Creativeventures, has acquired a 17.6 per cent stake in digital kiosk firm M Cash Integrasi (MCI). The value of the deal was undisclosed. The collaboration with MCI is aimed to pave the way… Read more »