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Tag: Indonesia

  • Lippo Partners With GrabTaxi to Expand E-Commerce in Indonesia

    Lippo Partners With GrabTaxi to Expand E-Commerce in Indonesia

    Lippo Group, the Indonesian conglomerate founded by billionaire tycoon Mochtar Riady, will partner with GrabTaxi Holdings Pte for e-commerce deliveries in Southeast Asia’s largest economy.

    The founder’s grandson, John Riady, is spearheading Lippo Group’s foray into e-commerce with a $500 million investment in MatahariMall, an online version of its Matahari department store chain. Grab, a regional ride-hailing company, will help transport and deliver goods to bolster MahatariMall’s services, the companies said in a statement Monday.

    The partnership shows how local companies, familiar with consumer preferences, regulations and infrastructure challenges, are trying to tailor services to stay ahead of foreign rivals as competition heats up. Japanese e-commerce company Rakuten Inc. closed down its Indonesian unit as of March 1, while China’s JD.com Inc. has recently set up shop in Indonesia.

    “Speed is really important in this business,” said Ridzki Kramadibrata, managing director of Grab Indonesia. “You need to be able to do multiple things at the same time because if you can’t do that, the market will outgrow you and you will lose your opportunity.”

    Rising Incomes

    MatahariMall’s site allows customers to buy on the Web and pick up items from Lippo’s stores. Its rival Tokopedia, which is backed by Japan’s SoftBank Group Corp. and Sequoia Capital, has already formed a similar alliance with Go-Jek, a motorcycle taxi booking company, to deliver purchased items to customers.

    “Our combined knowledge of the Indonesian market will help us build the most effective online-to-offline experience — to ensure that online shoppers anywhere in Indonesia can receive or collect their purchases easily,” John Riady, a Lippo Group director, said in the statement.

    Grab’s alliance with Lippo also underscores its aggressive market-share acquisition strategy in Indonesia, where it competes with Uber Technologies Inc. and Go-Jek. Grab’s private car-hailing service grew 30 percent in Indonesia in February, according to the statement. It has more than 50 percent of the country’s motorcycle taxi market in March, it said.

    Technology startups are trying to capitalize on rising incomes and growing mobile-phone use in Southeast Asia, where 250 million consumers are now connected via smartphone and 100 million engage in online transactions, according to a report by Bain & Co. and Google Inc. released last week. The report predicts online sales across Southeast Asia to surge to $70 billion by 2020 from $6 billion now.

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  • Governement Prepare Regulation for Foreign OTT Companies

    Governement Prepare Regulation for Foreign OTT Companies

    Communication and Informatics (Kominfo) Ministry is reported to have been preparing a regulation on foreign over the top (OTT) content provider companies operating in Indonesia. The regulation is expected to be issued at the end of March 2016. One of the articles in the regulation will oblige foreign OTT companies to form establish a legal entity in Indonesia. Bambang Heru Tjahjono,

    Director General of Informatics Application of the Kominfo, confirmed the plan. “Yes, [the regulation will be issued] at the end of March,” Bambang told us on Sunday, March 20, 2016.

    Bambang however, dismissed reports saying that the Kominfo would ban foreign OTTs who failed to establish a business entity in Indonesia.

    In an attempt to response to emerging foreign OTTs, Bambang said that the government will offer win-win solutions. “We will not necessarily ban foreign OTTs. The most important thing for Kominfo is [to focus on] customer service and consumer protection issues,” Bambang said.

    According to Nonot Harsono, Chairman of the Indonesian Telematics Society, regulation on foreign OTTs, particularly related to the obligation to establish a business entity in Indonesia, is required to maintain Indonesia’s sovereignty.

    Nonot explained that the presence of foreign OTTs in Indonesia without permanent business entity is comparable to vendors selling their merchandises inside a house without permission. The lack of license and business entity, Nonot added, could be considered as unethical conduct and ignoring the government’s sovereignty.

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  • Some 2,000 foreign companies pay no taxes

    Some 2,000 foreign companies pay no taxes

    Some 2,000 foreign companies in Indonesia did not pay taxes in the past 10 years on the pretext of having suffered losses, Finance Minister Bambang Brodjonegoro reported to President Joko Widodo (Jokowi).

    “They always claimed that they suffered losses,” the minister said at the Presidential Office here on Monday.

    Several of the foreign companies should have paid an average of Rp25 billion in taxes per year, he said.
    As a result, the state lost Rp500 trillion in taxes during the past 10 years, he said.
    He said the government will make every effort to minimize tax evasion.
    The minister also reported to the president that many residents who have more than one income source do not comply with tax obligation.

    “Only 900 thousand of 5 million taxpayers really pay taxes. In total, they pay almost Rp9 trillion in taxes,” he said.

    He said the Finance Ministry, through the Directorate General of Taxation, will coordinate with the Center for Financial Transaction Report and Analysis (PPATK) to trace the transaction data of taxpayers.
    PPATK Chief Muhammad Yusuf said the center is committed to helping the Directorate General of Taxation.

    “Everyday, PATK receives reports of 150 thousand financial transactions. We are trying to develop this information, analyze it and cooperate with the tax authorities so that we can take certain steps,” he said.

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  • IKEA donates Rs 92 crore for safe water projects in India, Indonesia

    IKEA donates Rs 92 crore for safe water projects in India, Indonesia

    Swedish furniture retailing giant IKEA will contribute 12.4 million euro (Rs 92.84 crore) to provide safe water and sanitation to one million people in India and Indonesia through Water.org. IKEA Foundation has announced a new grant of 12.4 million euro to Water.org on the occasion of the World Water Day, it said in a statement.

    “IKEA Foundation is committing 12.4 million euro to Water.org to expand its WaterCredit model, helping families have access to small, affordable loans so they can get safe water and sanitation,” it added. IKEA Foundation is the philanthropic arm of INGKA Foundation, the owner of the IKEA Group of companies.

    Commenting on the development, Matt Damon, co-founder of Water.org said: “Our work at Water.org has never been more important, and thanks to this grant and to IKEA Foundation, we are going to help hundreds of thousands of kids gain access to safe water and sanitation and impact their lives forever.”

    IKEA Foundation CEO Per Heggenes said: “We believe that every child deserves a healthy start in life and this is why we are supporting Water.org’s innovative programmes to help families in India and Indonesia access safe water and better sanitation facilities, giving them improved health and a life of dignity.”

    The World Bank estimates that 21 per cent of communicable diseases in India are linked to unsafe water and the lack of hygiene practices, and 50 per cent of India’s population continues to practice open defecation, the statement said. In Indonesia, more than 33 million people lack access to safe water and 100 million lack access to improved sanitation facilities.

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  • Indonesians share memorable Twitter moments to mark 10th anniversary

    Indonesians share memorable Twitter moments to mark 10th anniversary

    The Twitter logo appears on an updated phone post on the floor of the New York Stock Exchange. The social media site famous for its 140-character “tweet” limit turned 10 years old on Monday, having evolved from what was originally billed as a microblogging site into one of the internet’s most influential means of communication.

    Online social networking service Twitter on Monday celebrated its 10th anniversary, gathering many tweeters in Jakarta, including some of the nation’s most prominent figures.

    During the celebration, they shared their most memorable experiences with the microblogging site using the hashtag #KarenaTwitter (because of Twitter).

    Religious Affairs Minister Lukman Hakim Saifuddin, who spoke at the event on Monday evening, said Twitter had allowed him to express himself freely and to talk people who he might never have had an opportunity to meet with otherwise.

    Lukman said he signed up to the microblogging site in 2009 and admitted it was his most favorite social media platform.

    “After some comparison, Twitter is more enjoyable because of its short word count of only 140 characters and you can have a dialogue and unlimited communication,” he said.

    The minister added that the social media platform had exposed him to a wealth of information on a daily basis and prompted him to continue to learn new things, be more engaged and enrich his general knowledge.

    “Because of Twitter I feel stupid. There are many things I didn’t know about. The more people I meet on Twitter, the more I realize that I don’t know so many things,” Lukman said.

    Despite having almost 200,000 followers, the minister said his account was not yet verified.

    Singer Andien, who performed at the event, said Twitter had enabled her to get to know her now husband, Irfan Wahyudi. “This is a true story – without Twitter I may not have married my husband,” she said.

    Andien said she met her husband in 2002 but they did not become close until 2009, after she joined the social media platform. Andien explained that when she lost her cell phone that year, she messaged all her friends on Twitter with her new phone number. Among them was Irfan. After that, she and Irfan started to communicate more often and eventually grew closer. The couple married in May last year.

    Twitter Indonesia’s business head Roy Simangunsong thanked the Indonesian Twitter community for their continued enthusiasm. He said 77 percent of Twitter users in Indonesia were active daily tweeters. Of that amount, over half send out two tweets per day on average.

    Twitter had been witness to many historical moments in Indonesia, Roy said. Today, the wide range of interests and public sentiments can also be seen in the various hashtags that are used, he added.

    “From simple things like how they find a mate to gaining the confidence to be able to do business and become part of the everyday world using Twitter, we can see how Twitter has become an important element of Indonesian society,” Roy said.

  • Jakarta taxi drivers protest against Uber and Grab

    Jakarta taxi drivers protest against Uber and Grab

    Thousands of Indonesian taxi drivers have brought parts of the capital, Jakarta, to a standstill in a protest against transport apps.

    The drivers say ride-hailing apps, such as Uber and Grab, have severely reduced their salaries.

    Footage from Jakarta showed some protesters attacking vehicles and apparently threatening taxi drivers not taking part in the strike.

    The drivers have been joined by bus and “bajaj” motorbike drivers.

    Mobile apps like Grab and Uber have disrupted the transportation industry across Asia, and other parts of the world.

    Taxi drivers say they’ve been disadvantaged because the apps do not face the same costs and regulations as they do.

    ‘They are destroying us!

    The protest is far bigger than similar action taken last week. She said it was impossible to get a taxi in the city centre.

    The protesters have blocked roads outside the parliament, the city administration offices and the ministry of communication, causing massive traffic jams across the already heavily congested city.

    Commuters have expressed frustration at the demonstrations, which also saw tires set on fire.

    “This protest is so terrible. They really are rude and overbearing. I was very hurt,” Dewi Gayatri, who missed her flight for a business trip, told the Associated Press.

    “I still like Uber, and hope the government protects Uber, because it’s so easy to order and cheaper,” she said.

    But for the drivers, many of whom moved to Jakarta to work, the price wars have eroded their ability to support their families,

    “They are destroying us,” Salahuddin, who uses one name like many Indonesians, told the BBC. “We pay tax but because Uber uses private cars they don’t. I am fighting for my survival.”

    Ahmad Rahoyo who operates a bajaj taxi said he used to earn up to 100,000 rupiah ($10; £7) a day, “but since the apps entered Indonesia just covering my costs is hard”

    One man, Hans, said he saw drivers blocking a bus lane.

    “When they saw a taxi driver accepting a passenger they straight away ran over to the vehicle and told the passengers to get out of the taxi,” he said.

    “They threatened them with rocks. I didn’t see them hit anyone but they destroyed the rear vision mirrors of one taxi.”

    Indonesia’s government has appeared divided over the issue.

    The transport ministry has said it is in favour of a ban on ride-hailing apps, since the online and mobile app-based services are not registered as public transport.

    However the communications ministry, which oversees such companies, has said they are legitimately allowed to operate.

    President Joko Widodo has said new technology should be embraced and not banned.

    Global resistance

    Uber, which has sparked conflict with regulators and traditional taxi companies in many US and European cities as well, has expanded aggressively in recent years.

    Its success has led to a slew of localised transport-app companies with similar business models.

    This includes Malaysia-based Grab, which claims to be Southeast Asia’s largest, and Indonesian startup Go-Jek which specialises in motorcycle taxis.

    To try and claim market share, Grab for example, has offered commuters 20 free rides on their motorcycle taxi service.

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  • China Takes Over Australia’s Domination of Bali’s Tourist Arrivals

    China Takes Over Australia’s Domination of Bali’s Tourist Arrivals

    Chinas tourists have taken over the domination of Australian tourists who so far top the list of foreign tourist arrivals in the Indonesian tourist resort Island of Bali.

    “I have predicted that the number of Chinese tourists visiting Bali will increase after the government provides them with a visa-free facility and the opening of smooth direct flights to China,” Tourism observer Dewa Nyoman said here on Sunday.

    This condition has been observed since in the past several months. Moreover, the economic conditions in Australia are not conducive of late, he said.

    In the meantime, he said, the Chinese economy is relatively encouraging now.

    Indonesian flag carrier Garuda has also expended its flight routes linking Denpasar with Shanghai after it has previously opened a flight route that connected Denpasar with Beijing and Guangzhu in 2015.

    It seems that Garuda Indonesia is focusing on its flight expansion in China as the countrys foreign tourists which conduct overseas trips are large reaching some 100 million.

    He said that based on the records of Balis Tourism Service, the number of Chinese tourists arriving in Bali increased by 30 percent in the first months of 2016, topping the foreign tourist arrivals list.

    In the January-February period, a total of 189,594 Chinese tourists arrived in Bali, up from 145,747 in the same period in 2015.

    In January – February 2015, the number of Chinese visitors in Indonesia was still recorded in the second position.

    The Australian tourists holidaying on the island of Bali in the January – February period this year declined by 0.96 percent to 154,892 people. In the same period in 2015, the number of Australian visitors were recorded at 156,395.

    Japanese tourists occupied the third place with 39,371 visitors recorded last January and February, down 2.89 percent from 40,544 in the same period last year.

    Duwa Putra expressed convince that this year the number of Chinese tourists will continue to increase, replacing the domination the Australian tourists. After all, the volume of flights from Australia is increasingly limited.

    Besides, Garuda also services passengers with its routes covering Beijing, Guangzhou and Shanghai via Denpasar and Jakarta.

    The numerous flights facilitate the desires of young Chinese who want to spend their honeymoon in Bali, he said.

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  • Tourism ministry promotes Wonderful Indonesia in Auckland Festival

    Tourism ministry promotes Wonderful Indonesia in Auckland Festival

    The Indonesian tourism ministry joined the Auckland International Cultural Festival to promote Wonderful Indonesia on March 20, I Gde Pitana, deputy tourism minister in charge of the international tourism market development, said here, Sunday.

    New Zealand is a potential tourism market that needs to be exploited optimally, according to him.

    The ministry will be more serious in exploiting market in New Zealand whose people have a high prosperity level, he stated.

    In the international festival, Indonesia would present cultural and art performances, he said.

    The Indonesian delegation to the festival is headed by Titik Lestari, head of a sub-department in charge of culinary and music, of the tourism ministry.

    The delegation includes members of the Sanggar Gea Asmara art group.

    “They will present traditional dances during the Auckland International Cultural Festival, such as Bajidor Kahot dance, Cendrawasih dance, Alusia dance, and Piring dance,” he said.
    (T.H016/Uu.F001)

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  • ASEAN tourism to launch Visit ASEAN@50 Golden Celebration in 2017

    ASEAN tourism to launch Visit ASEAN@50 Golden Celebration in 2017

    Member countries of ASEAN will celebrate the groupings 50th Anniversary in 2017 by holding a joint tourism programme under the theme “Visit ASEAN@50: Golden Celebration” with the objective of embracing ASEAN as a single and united tourism destination.

    “Visit ASEAN@50: Golden Celebration will highlight ASEANs best 50 festivals and 50 most unforgettable travel experiences, whereby visitors will enjoy a wide range of ASEAN tourism products through diverse destinations, culinary, events, and engagements with local communities,” the ASEAN Secretariat said in a statement.

    Special offers and travel promotions with affiliated partners will be rolled out for travellers to enjoy the richness of cultural, heritage, nature, and to feel the warmth of ASEAN hospitality.

    Targeting major regional and long-haul source markets, such as: China, Japan, Korea, India, Australia, UK, Germany, Russia, the UAE, USA and Canada, Visit ASEAN@50: Golden Celebration is expected to achieve 121 million international visitor arrivals to the region by the end of 2017.

    Also increase tourism receipts to USD 83 billion; and extend tourist visitations average length of stay to 6-7 days, and to more than 2 ASEAN countries.

    The official pre-launch of the Visit ASEAN@50: Golden Celebration campaign was spearheaded by ASEAN Tourism Ministers and Leaders at the ITB Berlin on 10 March 2016.

    The pre-launch was followed by two days of ASEAN cultural performances for ITB Berlin’s public audiences on 12 and 13 March at Thailand pavilion.

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  • Freelancer.com eyes Indonesia

    Freelancer.com eyes Indonesia

    Online jobs listing platform Freelancer.com is set to expand its presence in Indonesia, with company CEO Matt Barrie praising the country’s efforts to drive innovation and investment in technology.

    Mr Barrie’s comments came as he and his team, including senior vice president of growth, Indonesian-born Willix Halim, played host to a delegation of Indonesian officials in Freelancer’s Sydney offices.

    The delegation, headed by the Indonesian minister of trade Thomas Lembong, discussed a number of topics with Freelancer’s management, with a particular focus on touting the efforts of the Indonesian government to create a more welcoming environment for local and foreign start-ups in the country.

    Mr Lembong said he was committed to making investment leaner, faster and friendlier in Indonesia. Under initiatives signed off by Indonesian president Joko Widodo, the country is looking to potentially reduce start-up capital costs and time for foreign companies to establish themselves in Indonesia.

    The country recently unveiled its e-commerce platform that’s designed to reduce the bureaucratic burden for entrepreneurs

    Mr Lembong also hinted at the prospect of Australian universities given the chance to establish campuses in Indonesia. Both Singapore and Malaysia have had similar policies regarding foreign universities for almost two decades and while the trend of Australian universities branching out geographically is on the wane the move signals the Indonesian government’s desire to boost its local innovation ecosystem.

    Indonesia is an important market for Freelancer, with 1 million of its 18 million users globally hailing from the country.

    Mr Barrie said that he was impressed by the level of activity in Indonesia.

    “I am very impressed with how many people in Indonesia’s cabinet are from the private sector with domain experience directly in the sector of their portfolio,” he said.

    “Why can’t we do this in Australia? It would take how Australia is governed into the 21st century and away from petty politics that is the mainstay of career politicians.”

    “I thoroughly enjoyed discussing the challenges and rapid progress that Indonesia has made and will make through technology-enabled reform and “breaking taboos to get things done” with the minister,” he added.

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  • Indonesia waives visa requirements for 79 more countries

    Indonesia waives visa requirements for 79 more countries

    Indonesia has waived visa requirements for 79 more countries, expanding the list to 169 visa-free nations as it continues its efforts to boost foreign visitor numbers.President Joko Widodo on March 2 signed a decree granting visa-free entry to tourists who wish to travel in the country for 30 days, said a statement published on the Cabinet Secretary website on Friday.

    “The presidential decree comes into effect once it is ratified, ” the statement said, noting that the Legal and Human Rights Ministry authorised it on March 10.

    According to the statement, Australia is included in the list of countries after the country was mooted three times last year but later the reciprocal issues were dropped over, Xinhua news agency reported.Throughout last year, the Indonesian government expanded the list to 90 from 15 visa-free countries.

    The government has set a target to attract 20 million foreign tourists annually by 2019 as an effort to boost growth in Southeast Asia’s largest economy.Last year alone, 9.73 million tourists visited the Indonesia.

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  • OTT Content Providers Must Establish Office, Ministry Says

    OTT Content Providers Must Establish Office, Ministry Says

    The Communication and Informatics Ministry (Ministry) plans to issue a regulation that mandates over the top (OTT) content provider companies to establish a permanent business entity in Indonesia starting on April 2016.

    “The Ministry obliges OTT content provider companies to establish a business entity,” said Ismail Cawidu, Head of Information and Public Relation of the Ministry on Friday, March 18, 2016.

    The obligation will also apply to foreign OTT content provider companies in Indonesia, including Facebook, Twitter, and Whatsapp. Ismail said that these companies can still operate in Indonesia if they could establish a permanent representative office in the country. Ismail added that foreign OTT content provider companies must also cooperate to protect consumers’ confidential information.

    Ismail said that if foreign OTT content provider companies cannot establish a permanent business entity, they are allowed to cooperate with similar companies in Indonesia.

    Ismail stated that the Communication and Informatics Minister Rudiantara had promised that the regulation will be completed on April 2016. “The regulation will be announced in the beginning of April 2016, but we don’t know whether it will be immediately enter into force or there will be a transition period,” Ismail said.

    Failing to comply with the regulation, Ismail said, OTT content provider companies will be subjected to sanctions. “The app could be blocked, or the company’s bandwidth may be reduced so the company cannot operate its website freely,” Ismail said.

  • Bali to Host Web in Travel Conference

    Bali to Host Web in Travel Conference

    Web in Travel (WIT) Indonesia Conference will be held in Bali on April 28, 2016. The conference on online tourism industry will invite speakers from world’s leading brands.

    Grace Kurnadi, CEO of Revata – the organizer of Web in Travel in Indonesia – said that she believed that the conference will attract prominent and influential players in online tourism industry, include in distribution and marketing. “It’s a good momentum for Indonesia to develop tourism, particulary through the channel of online media,” Grace said in her press conference on Thursday, March 17, 2016.

    WIT is adapted from WIT Conference in Singapore, Asia-Pacific’s biggest online tourism event. The conference to be held by WIT and Revata Cipta Kreasi will be the fourth ever.

    The event will feature a number of speakers to discuss the latest trends and issues in online tourism industry, Grace said. In addition, they will discuss market opportunities in Indonesia.

    Grace said that Indonesia has the potentials to attract tourists through its natural beauty. However, emphasis must be given on adaptation in technology for promoting and selling tourism package in line with the global technological advancement. “Tourism sector is expected to become the leading sector to enhance foreign exchange earnings,” Grace said.

    The government is hoping to achieve 20 million foreign tourist visit in Indonesia by 2019. The President had asked all relevant ministries and agencies to support tourism sector in Indonesia. “To support the target, we have to expedite the use of technology as one of the means of promotion as well as to market a wide range of tourism packages in Indonesia,” Grace said. Moreover, Grace considered that various industries are currently dominated by millenials who are familiar with technology, including in tourism industry.

    Listed below are speakers who have confirmed their presence in next month’s conference:

    1. Rusdi Kirana, Founder of Lion Air

    2. Oliver Hua, Managing Director of Asia Pacific Booking.com

    3. Mieke De Schepper, Vice President of Asia Pacific Expedia

    4. Robin Harries, Head of APAC Trivago

    5. Rama Mamuaya, Founder of Dailysocial.id

    6. Eric Tjetjep, Founder of Ezytravel, former CFO of PT Dwidaya

    7. Gaery Undarsa, Managing Director & Co-founder of Tiket.com

    8. Dennis Adishwara, CEO of Layaria

    9. Alamanda Shantika Santoso, Go-Jek’s Vice President of Product

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  • Garb Car Establishes Cooperative

    Garb Car Establishes Cooperative

    Grab Car Indonesia announced a partnership with the Indonesian Rental Business Owners Cooperative (PRRI) after the Cooperatives and Small and Medium Enterprises Minister handed over the memorandum of incorporation for the cooperative on Wednesday, March 16, 2016.

    “We decided to do this [partnership with the cooperative] based on government’s recommendation,” Grab Indonesia managing director Ridzki Kramadibrata said at the Cooperatives and SMEs Ministry Wednesday, March 16, 2016.

    Ridzki added that with such partnership, the company could immediately apply for vehicle road worthiness tests (KIR). Ridzki revealed that Grab Car Indonesia would wait for instruction from the government.

    In response to Jakarta Governor Basuki “Ahok” Tjahaja Purnama’s suggestion related to sticker uses, Ridzki said that his company would accept the suggestion.

    “We’re happy with the suggestion, because we think that it’s suitable with our business model,” Ridzki added.

    Cooperatives and Small and Medium Minister Anak Agung Gede Ngurah Puspayoga said that Grab Car Drivers had been officially protected by the law and would be able to apply for the KIR test through the cooperative.

    “With such a legal basis, car rental business owners, including Grab Car, will be able to follow government regulations,” Puspayoga added.

    Puspayoga revealed that members of the cooperative could even be facilitated with micro loans (KUR) from the Ministry with an interest rate of below nine percent. Puspayoga explained that the loan could be used for a car down payment.

    PRRI chairman Ponco Seno said that the cooperative would help drivers to have an official organization to run their car rental business, including those who used online applications, under Law No. 22/2009 on Public Transportations.

    “So, Grab Car follows government regulations to run their transportation business in Indonesia,” Ponco said, adding that the application for the cooperative establishment was filed in October 2015.

    Ponco said that the cooperative crafted a program to improve members’ welfare, such as life insurances for drivers. With 5,000 members, Ponco said that the cooperative has set a workshop for 300 cars. The cooperative would also work with other garages to maintain members’ cars.

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  • Singaporeans invest in Caffe Bene

    Singaporeans invest in Caffe Bene

    Days after being launched, Singapore’s Hallyu Ventures (HVPL) has spent US$13.8 million to take a 38 per cent shareholding in South Korean coffee chain Caffe Bene, which has outlets in 14 countries.

    HVPL is a joint venture between Future Investment Holdings (FIHPL), a wholly owned subsidiary of Food Empire Holdings, and Sweet Blossom Holdings (SBHL), a wholly owned subsidiary of Eastern Valley Group, part of Indonesian conglomerate Salim Group.

    FIHPL holds 51 per cent shares in the joint venture, launched with the aim of investing in F&B companies in east and north-east Asia, as well as South Korea.
    Hallyu Ventures is now Caffe Bene’s second-largest shareholder, and its involvement is expected to enable the brand to enhance its competitive power as the top coffee franchise company in Korea.

    “It will also make it possible to lead in both the local and global market, with Caffe Bene management in Korea focusing on the local market while the overseas partners expand its global market influence,” says the company.
    K3 is Caffee Bene’s largest shareholder with 52 per cent. However, Hallyu Ventures plans to invest further this year to strengthen its position as a strategic investor, reports The Korea Times.

    Caffe Bene Korea is focusing on international expansion after reaching saturation point in its own market with a network of 810 stores. It has more than 500 stores in China with a short term target of 1000, and two in the US. It will also take its brand to the Middle East after signing a franchise agreement with Saudi Arabia-based Keden Group.

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