Indonesia: Singapore firms to bring FDI worth $150m in telecom, $15m in pharmacy

Singapore telecom companies are investing $150 million (Rp1.09 trillion) to build fibre optic network in some Indonesia’s major cities, the Investment Coordinating Board said in a press statement.

In addition to this, the board has also received interest from a investor looking at injecting $15 million in the pharmacy industry.

While Investment Coordinating Board head Franky Sibarani did not elaborate the names of the investing companies, he said, the firms will build telecom infrastructure networks in Jakarta and Surabaya, East Java.

“After Surabaya and Jakarta, they will build a fiber-optic network in other big cities in Java that will interconnect the entire island of Java without any affiliation with other telecom service providers,” he said.

According to him,  the investor plans to establish two companies in Indonesia to handle the whole project.

The Singapore-based investors are a company with 20 years experience in the investment, construction, operation and maintenance of telecom infrastructure.

The company also has business activities in Cambodia and Myanmar where it already owns and operates a passive telecom infrastructure of which 8,600 km fibre optic network installed in Cambodia and 5,000 km fibre optic network installed in Myanmar.

Singapore is one of the largest sources of foreign direct investment (FDI) in Indonesia. Since 2010 until the third quarter of 2015, FDI from Singapore reached nearly $30 billion, spread across 6,868 projects.

Investments from Singapore have been across several sectors including, transport, warehousing, telecom, agriculture, mining, food, mineral as well as electricity, gas, and water.

The other investor, keen on pumping in funds in pharmacy centre, is a business major with 12,000 employees and having a data centre in India.

From the data released by BKPM period for January to September 2015, Singapore invested $3.5 billion, followed by Malaysia $2.9 billion, Japan $2.5 billion, South Korea $1.0 billion and the Netherlands $ 900 million.

Also Read: 

Indonesia’s investment board, Singapore’s UOB sign pact to boost FDI from Asia

Taiwanese firms plan to shift production to Indonesia

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.