Industrial Bank of Korea

Industrial Bank of Korea to acquire 87.34% of Indonesia’s Bank Agris


According to Korean media reports, IBK is also mulling an acquisition of another Indonesian bank before the end of this year.

Eyeing SE Asia’s $1b market, tokens platform Waves partners Indonesia’s Tokenomy

The partnership with Tokenomy will allow tokenization of loyalty points issued by merchants and businesses in the region.

Indonesia: Kresna Graha Investama to back ICT firm SMC Co-Design

M Cash Integrasi will aim to leverage SMC’s technological expertise and reach in the country.

Indonesia Dealbook: Music platform Kolase raises $750k; Govt woos Australian investors

Crowdsourcing music site Kolase says it has raised $750,000 in funding from local VC firm Global Basket Mulia.

XL Axiata to invest $500m in pay TV, broadband, fixed line businesses

The announcement by XL Axiata comes after the company exited the e-commerce business in 2017 when it pulled out of its e-commerce platform Elevenia. 

APAC Dealbook: Grab-Samsung tech collaboration; Indonesia’s OKHOME raises $300k

Grab has signed a multi-year MoU with Samsung to collaborate on a wide range of initiatives to enhance customer and driver experience.

Indonesia Digest: Reddoorz expands footprint; Investree’s new sharia service

Online budget hotel booking chain Reddoorz opens 20 new properties in Surabaya as part of its $10 million expansion plan in Indonesia

Indonesia Digest: CMNP eyes asset securitisation; Local banks announce rights issue

Toll road operator CMNP plans to raise funds from asset-backed securities in the first quarter of this year to fund its projects until 2019.

Ride Jakarta raises $500k seed funding round led by Intudo Ventures

Ride Jakarta will utilize the investment to expand its physical fitness studio network and roll out digital fitness content for offsite users.

Indonesian drugmaker Kalbe Farma eyes Sri Lanka, Mideast expansion

Kalbe, which gets about a third of its revenue from distribution and logistics, is open to roping in an equity partner for the unit, a top executive said.