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.

Telkom Indonesia acquires stake in European mobile wallet provider Cellum

Under the agreement, Telkom will invest in Cellum in two tranches for a 30.4 percent stake. The Southeast Asian telecommunications giant will also facilitate the penetration of Cellum’s services in Indonesia, the region’s largest economy. Financial details of the deal have not been disclosed.

Indonesia’s Pertamina picks Cosmo Energy, Oman’s OOG for $10b refinery

Indonesia is one of Southeast Asia’s biggest fuel importers.

Indonesia’s fintech lending surge takes advantage of deficit in bank credit

The emergence of these peer-to-peer (P2P) lending platforms has so far been welcomed by Indonesia’s financial regulators.

Japan’s SMFG seeks to merge local unit with Indonesian lender BTPN

The Japanese lender’s CEO said last month the company is keen to raise its stake to a majority in BTPN if Indonesian authorities permit.

Google invests in Indonesian ride-hailing major Go-Jek

Indonesia has been the battleground for ride-hailing companies because of the country’s population potential.

Indonesia’s GMF AeroAsia to raise $59m in new share sale

The sale of new shares would be part of its stake sale to a strategic investor, where it planned to sell a 20% stake.