Indonesia looks to foreign acquirers for consolidation in crowded banking industry


Indonesia has 115 conventional and Shariah banks and almost 1,800 rural lenders, catering to the archipelago’s more than 260 million people, data from the Financial Services Authority show.

Indonesian authorities taking on aggressive Chinese online lenders

The wave of predominantly Chinese fintech lenders, who often do not register and employ aggressive debt collection practices, is now alarming regulators.

East Ventures backs seed round for on-demand coffee startup Fore Coffee

The startup, which started its operations in August this year, marks the third project incubated within East Ventures after EV Hive and Warung Pintar.

Amazon in market entry talks with Indonesian government: Report

According to the country’s Finance Minister Sri Mulyani Indrawati, the discussion with Amazon has been about the terms related to its planned investment, including matters of tax and regulations.

Indonesian auto marketplace Rajamobil in talks to raise up to $5m

Rajamobil.com is owned and operated by PT King Car Media, an online media company based in Jakarta.

ANZ Bank said to hire Morgan Stanley to sell stake in Indonesia’s PaninBank

The Australian lender has made attempts to offload the stake at least since 2013, when new regulations made it more expensive to hold minority overseas investments.

Indonesia’s newest unicorn Bukalapak taps local kiosks in top spot chase

Bukalapak, which counts Singapore’s GIC and China’s Ant Financial among its investors, trails only Alibaba-backed PT Tokopedia, according to iPrice Group.

SGX-listed Indonesian coal miner Geo Energy eyes dual listing in HK

The Hong Kong listing will allow Geo Energy to tap a wider investor base and enhance its proximity to Mainland China and Hong Kong.

Chinese tech giants hunt for elusive profitability in Indonesia’s e-commerce market

The only viable way for the Chinese to make money in Indonesia is perhaps through industry consolidation. After all, Indonesia has already seen some high-profile mergers, such as Grab’s takeover of Uber’s entire Southeast Asian business this year.

Indonesia’s Go-Jek challenges GrabAds with Promogo acquisition

The acquisition comes two months after Grab launched GrabAds to help brands build presence across its vehicle fleet and mobile app.