By Ardi Wirdana
The ruling was made in response to a petition filed by Grab and Go-Jek motorcycle taxi drivers who seek to be treated as employees by these ride-hailing companies.
Lippo-China Merchants will hold 51 per cent in the new joint venture while China Changjiang will hold the remainder.
The deal will pave the way for state-owned Inalum to control 51% of Freeport Indonesia that controls Grasberg, the world’s No. 2 copper mine.
Inarno Djayadi, who was confirmed as CEO at an IDX shareholders’ meeting on Friday, told a press conference he wanted the exchange to reach 40 new company listings by 2020.
Indonesia’s low insurance penetration rates render the market extremely attractive.
Rival Grab recently secured $1 billion in funding from Toyota, the lead investor in its ongoing funding round.
People Digest: Bukalapak names Rasyid as president; IDX gets new head; Ropes & Gray hires HK counsel
Rasyid will be responsible for the Jakarta-based startup’s long-term and strategic initiatives.
Lippo’s investment in Tencent is purely financial in nature, rather than a strategic move, given the quantum of investment.
JLL and Lendlease have jointly launched regional proptech accelerator Propell Asia in Singapore
The startup’s valuation in a recently annulled Series B round was believed to be $25-30 million.