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Tag: Indonesia

  • SPH Media Fund invests in Indonesia-based cashback app Snapcart

    SPH Media Fund invests in Indonesia-based cashback app Snapcart

    Snapcart, a mobile app based in Indonesia, announced today (Jan 5) that it has successfully raised US$1,675,000 (S$2,385,000) pre-series A funding.

    Among this round’s participants are Wavemaker Partners, SMDV, Ardent Capital and SPH Media Fund – the investment arm of Singapore’s leading media group Singapore Press Holdings.

    “I believe we were able to earn the confidence of investors after our early signing with major FMCG brands Nestle and L’Oreal in Indonesia,” said Reynazran Royono, CEO and Founder of Snapcart. “Our pre-launch and launch traction was also amazing with 12,000 app downloads before any marketing campaigns were launched. In a relatively short period we were able to sign more than 35 brands, including brands from Procter & Gamble and Unilever”

    According to Snapcart, since its launch on Sept 2, 2015, the number of downloads has grown to over 150,000, with more than 85,000 monthly active users.

    However, the company aims to achieve 1 million users downloads in less than a year.

    Snapcart will use the capital to develop new products; including engagement video features and analytical dashboard tools. These features will accommodate brands with the platform they need in order to see their consumer behaviours in real-time, as well as to aid brands in formulating their next marketing actions.

    The company is also planning an expansion to at least two other markets in Southeast Asia, starting with the Philippines early this year. Snapcart’s iOS version launch will also be taking place at around the same time.

    “Our first stage of development was focused on mass data collection and user acquisition, activation, and engagement. Now, with over a thousand receipts received per day, we are looking to perfecting the built-in automation system and upgrading the app. In Indonesia, there are many different formats for receipts, even within the same retail franchise, which makes it harder to be automated. This is the hassle that we want to tackle in the next stage.” CTO of Snapcart, Laith Abu Rakty, said.

    “User acquisition is always on the agenda, but now we’re doing it by partnering with FMCG companies and other verticals through a combination of offline activities and online marketing.” added Mr Rey.

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  • Matahari Department Store ups stake in MatahariMall.com operator

    Matahari Department Store ups stake in MatahariMall.com operator

    Indonesia public listed retail company PT Matahari Department Store Tbk (LPPF) has increased its ownership in PT Global Ecommerce Indonesia (GEI), which indirectly owns stake in e-commerce player MatahariMall.com.

    GEI is the controlling shareholder of PT Sinar Rekata Earth and PT Lenteng Transcontinental. The two subsidiaries are the principal shareholders of PT Solutions E-commerce Global, which operates MatahariMall.com.

    In a prospectus submitted to the Indonesian Stock Exchange, Matahari Department Store said, it has bought 4.4 million shares of GEI valued at Rp 53.14 billion ($3.88 million).

    LPPF exercised its option to buy the GEI shares at a price of Rp 12,065 per share in accordance with the agreement signed granting option rights on August 15, 2015.

    Prior to the transaction, LPPF’s holding was 2.63 million shares in PT GEI or 1.99%, PT Matahari Putra Prima Tbk (MPPA) 2.63 million shares or 1.99%, PT Duta Wibisana Anjaya 5 million shares, or 3.79%, PT Sinar Mustika Dutamas 10 million shares, or 7.58%, PT Investama Digital Venture 111.65 million shares or 84.64%.

    After the transaction (options were exercised), the ownership of LPPF in PT GEI increased to 5.16%, MPPA at 1.93%, PT Duta Wibisana Anjaya 3.67%, Dutamas Sinar Mustika 7.34% and PT Investama Digital Venture 81.9%.

    In the prospectus, Matahari Department Store said that it carried out the transactions because it considers e-commerce as having high growth potential in the country.

    MatahariMall.com, officially launched its operations in September 2015 to tap Indonesia’s growing online retail space.

    Also Read: Indonesia e-commerce Dealbook : Government mulls five-year roadmap, Mataharimall launches online platform

    Indonesia’s MatahariMall ties up with state postal service for O2O push

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  • DBS Indonesia upbeat, eyes higher loan growth in 2016

    DBS Indonesia upbeat, eyes higher loan growth in 2016

    Private lender Bank DBS Indonesia, part of Singapore’s DBS Group Holdings, expects higher loan growth this year compared to 2015 as it predicts an improvement in the country’s economy.

    DBS Indonesia president director Paulus Sutisna said the bank projected that its loans would grow by 12 percent in 2016, higher than the 10 percent booked as of last year.

    According to its financial report, the bank booked loans of Rp 43.4 trillion (US$3.11 billion) as of September, an increase of 9.87 percent year-on-year (yoy) from Rp 39.5 trillion in the same period of 2015.

    “We are more optimistic about this year because the government is holding early auctions and procurements for its spending on infrastructure projects. Such acceleration will help the country’s economic growth,” Paulus said after an event on Wednesday.

    Paulus said acceleration in government spending would boost the real sector, which in turn would increase demand for bank loans, adding that “our growth will depend on the performance of our clients”.

    Given Indonesia’s large population the bank will focus on sectors related to the mass segment such as retail and consumer goods and some types of manufacturing and infrastructure-supporting industries.

    “We’ll still focus on some commodities, such as palm oil, as well as automotive, chemical and pharmaceutical industries,” he said.

    Paulus said the bank was also planning to enlarge its consumer and retail banking as well as small and medium enterprise (SME) portfolios as it still depended mainly on the corporate segment.

    “Corporate banking is dominant now as our retail business is still under 20 percent of our total lending. We hope to divide evenly our consumer and retail banking, SME and corporate portfolios by one-third each, perhaps in the next five to seven years,” he said.

    The government has forecast that Indonesia’s economic growth will reach 5.3 percent in 2016. The country’s GDP growth stood at 4.73 percent for July to September, a slight increase from the 4.67 percent growth posted in the second quarter and 4.72 percent in the first three months of the year.

    Despite the optimism, Paulus said the bank would remain cautious about various challenges in the global economy that still lingered, such as falls in commodity prices and currency volatility, as they would have an impact on Indonesia.

    Challenges in the global and domestic economy also affected DBS Indonesia’s income as it saw losses of Rp 178.9 billion as of September 2015, compared to net profits of Rp 366 billion in the same period last year. However, the bank’s unaudited financial report in November shows that it already started to post net profits of Rp 23.79 billion.

    Paulus said the bank would also invest in internet banking, which was essential to support a bigger consumer portfolio in the future, especially in fee-based income.

    As part of its efforts to grow fee-based income, the bank has enhanced its existing partnership with life insurer Asuransi Jiwa Manulife Indonesia, part of Canada’s Manulife Financial, through the launch of a new single-premium, unit-linked product MiWealth Protection.

    The new product is designed for DBS customers who wish to grow their wealth in order to be financially secure and enjoy their life in retirement. DBS Indonesia consumer banking group director Wawan Salum said the bank expected 20 percent growth in the number of wealth-management customers this year.

  • Bengkulu exports Layur fish to Japan

    Bengkulu exports Layur fish to Japan

    The fisheries cooperative of the Bengkulu city has started exporting Layur fish (Trichiurus Lepturus) to many countries, such as Japan, Taiwan, China and South Korea.

    Layur fish export was started as the fishing season began in November 2015, the Management of Mutiara Laut Coop, Hermansyah, said here on Wednesday.

    “This Layur fish catch depends on the season which lasts for six months, and the species is not available for the rest of the year,” he said at Pondok Besi fish auction, Bengkulu city.

    This fish is obtained from North Bengkulu, South Bengkulu and Kaur districts.

    Hermansyah could export 100 tons of Layur fish per month through the Bandung city, West Java.

    “We use a cold store built by the government for this auction,” he said.

    The coop buys Layur fish from fishermen at prices ranging between Rp15 thousand and Rp36 thousand per kilogram, depending on the size of the fish.

    The demand of Layur fish caught from the Indian Ocean is high because it if of better quality.

    “There are no certain standards in case of this fish. They always accept every lot of the species we send. The problem is actually of the production being low because many fishermen still use traditional fishing gear,” Hermansyah emphasized.

    Layur fish could easily be identified, owing to its flat and long shape.

    Various kind of Layur fish are found in the Pacific and Atlantic Ocean.

    Many people like it because the meat is chewy, not too fishy, not greasy, and it has easily removable bones.

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  • Ramada Bali Sunset Road Kuta Opens in Indonesia

    Ramada Bali Sunset Road Kuta Opens in Indonesia

    Demonstrating strong and increasing interest in its portfolio of brands in South East Asia, Wyndham Hotel Group has introduced a third hotel in Bali, Ramada Bali Sunset Road Kuta, located in the heart of the vibrant Kuta district.

    Formerly the Best Western Premier Sunset Road, the 271-room property is owned by Sun Motor Group and managed by PT Wyndham Hotel Management, an Indonesian subsidiary of Wyndham Hotel Group. Ideally located close to Jalan Legian and popular Seminyak Beach, the stylish guest rooms feature contemporary décor, while suites boast separate living areas. The well-appointed facilities include a rooftop pool, gymnasium, on-site spa, meeting rooms, business centre and two distinct dining establishments.

    “Bali is one of Indonesia’s most popular destinations, attracting close to four million visitors a year,” said Barry Robinson, President and Managing Director of Wyndham Hotel Group South East Asia and Pacific Rim. “With the 2013 expansion of Ngurah Rai International Airport and this year’s four-fold increase in government spending on tourism, we believe it’s a market prime for year-on-year growth.”

    Wyndham Hotel Group is focused on strategic expansion throughout South East Asia as part of its larger global development strategy—especially as it relates to its Ramada brand. The company believes Ramada Bali Sunset Road will become a landmark hotel for visitors.

    President and Commissioner of Sun Motor Group, Imelda Sundoro said “Ramada is a globally known brand with an enviable reputation for offering exceptional experiences in some of the world’s most sought after destinations. That strong recognition, combined with the expertise and resources of a partner like Wyndham Hotel Group, made Ramada the clear choice for us as we look to grow our hospitality developments in Indonesia.”

    All Ramada hotels in Indonesia participate in Wyndham Rewards®, the simple-to-use, revolutionary loyalty program from Wyndham Hotel Group that offers members a generous points earning structure along with a flat, free-night redemption rate.

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  • Korea’s E-Mart Vietnam launches

    Korea’s E-Mart Vietnam launches

    As a first step in a Southeast Asian rollout, Korean discount store E-Mart has opened its first outlet in Vietnam.

    It goes head-to-head with rival Korean chain, Lotte Mart, which has been in Vietnam since 2011 and now has 11 stores. The E-Mart Vietnam launch follows four years of researching the Vietnamese retail market.

    Run by retail giant Shinsegae, the new two-storey E-Mart hypermarket is worth US$60 million and is on a 3ha site in the busy Go Vap District of Ho Chi Minh City, nearby the airport. It is the brand’s first overseas store since it shifted focus to Southeast Asia in 2011 after a lacklustre foray into China. The company regards the new store as a foothold for expansion throughout Vietnam and into such neighbouring countries as Indonesia, Laos and Myanmar, reports the Korea Herald.

    E-Mart’s Ho Chi Minh City store has been tailored for Vietnamese consumers, and offers several features new for Vietnam. About 95 per cent of the employees (about 300) are Vietnamese, including the manager, and the parking lot has been designed to cater for 1500 motorcycles and 150 cars to reflect the city’s vehicle preferences

    As well as featuring Korean products popular with Vietnamese tourists to Korea, the hypermarket has imported items sourced by its operator. Korean dishes such as kimbap, tongdak and grilled chicken are made in-store, as well as baked goods adapted for Vietnamese tastes. On its shelves customers can also find fast-moving consumer goods, household utensils, electronics, and clothing from about 1000 local suppliers, plus a wide range of Korean and Emart-branded products. About 95 per cent of the goods will be locally made.

    Unusual for stores in Vietnam, the new E-Mart has such concepts as a diversified food court, a children’s sports club, games centre, book store and an English club, plus its flagship customer services include immediate refund and exchange policies and compensation for checkout errors.

    Its mix of food and entertainment is aimed at turning the store into a “happy hypermarket” for Vietnamese consumers, reports VNS. E-Mart Vietnam general director Choi Kwang-Ho says it is hoped these concepts will “sweep the Vietnamese retail market”.

    “After successfully building up a sizeable presence in Ho Chi Minh, we plan to expand into the rest of the country,” he said.

    According to the Korea Herald, E-Mart has already bought land for a second branch. An E-Mart press release says the company plans to open another hypermarket in Hanoi – a first for the capital – and expand the chain to 52 stores across Vietnam by 2020.

    Meanwhile, in co-operation with the Viet Nam National Traffic Safety Committee, E-Mart has donated hundreds of helmets each to seven primary schools in Go Vap. It plans to gift 50,000 quality helmets for primary-school students by 2020.

    E-Mart is the largest retailer in South Korea with 160 stores. Founded in 1993 by department store franchise Shinsegae, E-Mart reported global sales of $13.2 billion last year.

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  • Indonesia to import 600,000 live cows in 2016

    Indonesia to import 600,000 live cows in 2016

    Agriculture Minister Andi Arman Sulaiman said the government will still import live cows in 2016 to meet domestic requirement.

    Andi gave no detail including number of cows to be imported, but he said “we will import breeder cows that could give birth 10-12 times.”

    However, secretary general of the ministry Hary Priyono said the country would import around 600,000 cows in 2016 to meet domestic consumption of 675,000 tons of beef.

    The ministry and the Board of Logistics have only a stock of 416,000 tons , therefore, the country would need to import 600,000 cows equivalent to 236,000 tons, he said.

    He said there are many cow production centers in the country like East Nusa Tenggara, but buyers prefer to imports because of difficult access to the the centers.

    Last month, a new cattle ship began its regular service transporting live cows from East Nusa Tenggara to Jakarta.

    The KM Camara Nusantara arrived in Jakartas Tanjung Priok port last month with 353 live cows, the minister said .

    With the ship, East Nusa Tenggara began its regular shipments of live cows to Jakarta.

    The 353 male Bali cows were ordered by the state run Board of Logistics (Bulog), the minister said, welcoming the first shipment at Tanjung Priok.

    The live cows each weighing 250-350 kilograms, would produce 125 kilograms of meat on the average, the minister said.

    The minister said the plan was that shipments by KM Camara Nusantara would be made twice every month from East Nusa Tenggara bringing around 150,000-200,000 beef cows a year to Jakarta.

    He said the vessel would also brought in beef cows from South Sulawesi, West Nusa Tenggara , East Java and Lampung to Jakarta.

    He said the target is to change the market structure with 80 percent of beef requirement in Jakarta to be locally supplied.

    So far beef market in Jakarta has been dominated by meat of imported cows mainly from Australia.

    The minister said he hoped the operation of the cattle ship would reduce cow transport and distribution costs in the country.

    The government of President Joko Widodo is set to improve efficiency in the distribution of beef cow by using local cattle ships .

    Transport problem has caused the price to soar making it difficult in shipment of live cows from the regions especially East Nusa Tanggara to Jakarta .

    The availability of the special cattle ship would better guarantee market for cows from the breeding centers and supply of beef with a lower prices in consuming regions, the minister said.

    The KM Camara Nusantara 1 has spaces enough for 500 cows with international standard . It will be busy transporting live cows from production centers in East and West Nusa Tenggara and East Java to the Greater Jakarta area , the largest consuming region in the.

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  • Garuda Indonesia to open direct flight on Shanghai-Denpasar route

    Garuda Indonesia to open direct flight on Shanghai-Denpasar route

    Indonesian flag carrier Garuda Indonesia is planning to start a direct flight between Shanghai, China, and Denpasar, Bali, on January 13.

    “The non-stop flight between Shanghai and Denpasar will operate twice e a week using an Airbus-330 aircraft,” Vice President of Garuda Indonesia for China Region I, I Wayan Subagja, in Beijing, on Tuesday.

    As Bali is the favorite destination for Chinese tourists visiting Indonesia, hence Garuda will continue to increase the number of direct flights to Bali through regular and unscheduled flights.

    Garuda Indonesia also provides regular flights on the Beijing-Jakarta route that operate thrice a week and seven weekly flights each on the Shanghai-Jakarta and Guangzhou-Jakarta routes.

    Since January 2013, the national flag carrier has been operating four non-stop weekly flights on the Beijing-Denpasar route and has also added a new flight on the Guangzhou-Denpasar route at the end of 2015.

    Moreover, Garuda facilitates unscheduled flights for people from eleven Chinese cities who plan on visiting Bali for the Chinese New Year and summer holidays.

    “They still have huge interest to visit Bali due to which Garuda has tried to provide ease and comfort to tourists who want to visit Bali. We also promote other destinations in Indonesia,” Subagja emphasized.

    The opening of flights between several cities in Tiongkok and Bali is expected to support an increase in the number of Chinese tourists to Indonesia, which is targeted to reach ten million people in the next five years since 2015.

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  • After Indonesia, dating app Spotted eyes Malaysia and Thailand

    After Indonesia, dating app Spotted eyes Malaysia and Thailand

    The German dating app Spotted is out to woo Southeast Asian users. Dating apps have become relatively widespread in Indonesia, with Germany’s Spotted merely the latest aiming to carve out a piece of the pie.

    Having entered Indonesia in October 2015, Spotted is now eyeing Malaysia and Thailand as its next two Southeast Asian markets, its optimistic outlook fuelled by its US$14.5-million (RM62.6 million) Series A round in August 2015.

    That investment round, which involved Media Ventures, Wolfman Holdings, and a Deutsche Balaton affiliate based in Heidelberg, Germany, brought Spotted’s total funding to US$15.3 million to date.

    “Once we get the funds from our investors, we want to expand to Asia and other parts of the world,” its business development head Andre Sierek told via email.

    “However, at this moment our focus is first on Southeast Asia, especially Indonesia, as well as Malaysia and Thailand in 2016,” he added.

    After its founding in 2013, Spotted initially targeted German-speaking countries such as Austria, Switzerland and North Africa, describing its product not so much as a dating app but a “social discovery” app.

    The hyper-local app helps users meet again with others they have met before. For instance, if you met someone in a café and are interested in them, Spotted will help you meet up with them again.

    According to Sierek, Spotted currently has one million users across the world, with its app being downloaded 10,000 times daily.

    To increase its user base, it realised it could not depend on just the European market – which explains its Southeast Asian foray, and Indonesia being established as its launchpad.

    Sierek said Spotted’s internal research found that people in Southeast Asia were enthusiastic users of social and dating apps.

    Two months after launching in Indonesia, the app had been downloaded by 15,000 users.

    “Our users in Indonesia really like our app, and they mostly like our ‘anonymous love notes’ feature,” said Sierek.

    Content localisation

    Moving from a German-only market to the diverse Southeast Asian region has not been easy, Sierek admitted. It had to tweak its content to cater to the local market and local language.

    “Our main challenge would be building the local user base, as well addressing the different needs of each market in the region,” he said.

    Although it has not established an office in Indonesia yet, Spotted has formed a partnership with a local company, mainly to localise its content and conduct online promotions.

    “We will use the same approach for the Malaysian and Thai markets — that is, cooperating with local companies,” said Sierek.

    He said the company does intend to open an office in Southeast Asia, as well as one in San Francisco, sometime this year, although he did not elaborate on which Southeast Asian country would house this office.

    Not a ‘booty call’ app

    Spotted was founded by Nik Myftari, Nicolas Amann, Christian Kapp, Alexander Pelz, and Tung Nguyen, who met as students at the University of Heidelberg in Germany.

    Its goal is “revolutionise” the way people connect to others, by giving them a second chance to form a relationship.

    “Spotted is not a dating app that brings random people together,” said Sierek.

    “The concept is more like a time machine – it brings together people who have actually met before, but did not have the time or opportunity then to follow up on a relationship.

    “Our approach is unique, and focuses on establishing serious relationships and finding true love,” he declared.

    The app’s main function, called “Deja-Vu,” allows the user to “see” people who once crossed his or path – say, at a restaurant or while travelling. The user can use the “Wink” function to hail that other person, and if that person is interested, he or she can send a “Wink” back in response.

    From there, they can go on to private online chatting or messaging.

    Users can also send anonymous love letters or notes if they are looking for potential partners – but only with people they have met before and not random partners, Sierek emphasised.

    Users must turn on the location-based feature on their smartphones so that Spotted can accurately record the location and date where users might have met their potential partners.

    “The more users, the more opportunities to record people who have crossed our paths,” he added.

     

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  • Singapore’s Migme snaps up Shopdeca Indonesia

    Singapore’s Migme snaps up Shopdeca Indonesia

    Singapore digital media company Migme is to buy Shopdeca Indonesia.

    Shopdeca sells a curated range of lifestyle products online through two websites: shopdeca.com andsportdeca.com.

    The move buys Migme a gateway into the neighbouring Indonesia market – as well as boosting the Migme executive team and Shopdeca.com founder Andreas Thamrin will joing Migme as global head of eCommerce once the deal is settled during the first half of 2016.

    Migme CEO Steven Goh said the acquisition would give the company valuable local Indonesia market expertise.

    “We look forward to the acquisition being a positive contributor to group results in 2016.”

    In January this year Migme bought Sold.sg after listing on the ASX last year. It owns the chat app LoveByte and a share in MatchMe.

  • Kulon Progo Airport construction to kick off in May

    Kulon Progo Airport construction to kick off in May

    The construction of an international airport in Kulon Progo district, Yogyakarta province, will kick off in May 2016, Vice President M. Jusuf Kalla has hinted.

    “God willing, it will be built starting May. Hopefully, land clearance and design will be completed in May so it can be completed in 2019 or 2020,” he said after holding a closed-door meeting at Congot Radar in Kulon Progo, Saturday.

    All serious problems related to the planned construction of the airport have been resolved so that the project can be started soon, he said.

    “There are no longer any land problems. The Yogyakarta governor has ordered (his staff) to resolve them. Furthermore, state airport operator Angkasa Pura I is also ready,” he said.

    The funds needed to construct the airport will come from Angkasa Pura Is budget and the company will cooperate with foreign parties to build and manage the airport, he said.

    The project will also include the construction of roads and railway tracks. In the initial phase of the project, an estimated three thousand workers will be employed, he said.

    After holding a closed-door meeting for nearly one and a half hours, the Vice President and his entourage observed the planned location for the construction of the airport from the third floor of the Congot radar.

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  • Kuta tourist area needs reform and management

    Kuta tourist area needs reform and management

    The tourist region of Kuta, in the Indonesian island resort of Bali, in 2016 needs reform and management in various supporting sectors such as traffic management and environmental hygiene, according to tourism practitioner Nyoman Sarjana.

    “The Kuta tourist area will face a great challenge in the future because from year to year the traffic there continues to get crowded. Therefore, the government and stakeholders in the tourism sector should all move to improve tourism in Bali, particularly in Kuta,” Nyoman remarked here Friday.

    If the iconic tourism of Bali is not properly managed, it is feared that the tourists will be bored of coming to Kuta and find another destination instead, he noted.

    a”It is because other areas in Indonesia are also managing their tourist attractions to attract more tourists,” Nyoman said, and added that foreign tourists who come to Bali feel comfortable and safe, and therefore this factor should be the priority while developing tourism.

    “Indeed, Bali is famous for art and culture since the ancient times. However, if it is not accompanied by comfort and security, domestic and foreign tourists will look for the other tourist attractions outside Bali,” he went on.

    In addition, the government and stakeholders should pay attention to hygiene, because the presence of garbage is in the spotlight in the world of tourism, he noted.

    “We have to find the solution to overcome the garbage problem in Bali, and all parties must be concerned about the environment,” he said.

    Furthermore, all parties should make every effort to keep the island resort of Bali clean and green, he added.

  • Garuda Indonesia Expects 10% Passenger Growth

    Garuda Indonesia Expects 10% Passenger Growth

    President Director of national carrier PT Garuda Indonesia Arif Wibowo predicted that passenger growth of the airline would reach 8-10 percent in 2016.

    “The growth is supported by the booming tourism industry in Indonesia,” Arif said in Jakarta on Sunday (3/1).

    For the record, in 2015, PT. Garuda Indonesia reported a positive passenger growth, that is 25 million passengers or a 3 million increase from that in 2014.

    In the meantime, its subsidiary, Citilink, also posted a quite significant growth, that is 11 million passengers or a 2 million increase from that in the previous year.

    Therefore, to anticipate the increase in the number of passengers, Arif said that the airline would purchase 23 new aircrafts, which purchased with leasing mechanism.

    Furthermore, Arif also hoped that in May 2016, Garuda Indonesia could use Terminal 3 of the Soekarno-Hatta International airport that is now under renovation.

    “We hope that with the new terminal, our services could improve,” he concluded.

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  • Strong growth recorded by Bank NTT in assets

    Strong growth recorded by Bank NTT in assets

    Regional lender, PT Bank NTT, in East Nusa Tenggara, recorded a strong growth of 44.03 percent year-on-year in assets to Rp11.9 trillion in 2015.

    “The bank has recorded a steady growth until the close of 2015,” Daniel Tagu Dedo, the president director of the lender, which is owned by the regional administration, said.

    Daniel said the bank also recorded good growth of 20.29 percent in drawing third party funds to Rp7.54 trillion by the end of 2015 from Rp6.27 trillion a year earlier, and a 20.29 percent growth in in credit expansion.

    The banks outstanding credit was recorded at Rp6.61 trillion by the end of 2015, up from Rp5.5 trillion a year earlier.

    Its profit grew 34.01 percent to Rp380 billion from Rp244 billion and its core capital totaled Rp1.23 trillion including paid up capital at Rp973 billion.

    The capital put the bank in the category of Buku II, allowing it to offer internet banking service or selling other products such as insurance product.

    The bank has received citations in recognition of its good performance in 2015 from various organization and agencies including banking agency.

    “The bank would not boast about the citations, but the recognition would serve to spur the management to work the harder,” he said.

    In 2015, BNK NTT won Infobank Award with the notation of excellent for 15 consecutive years for category of banks with assets of around Rp10 trillion, and Annual Report Award (ARA) 2014 for category of listed state companies, as the third best.

    The awards were received in Jakarta in September 2015.

    The award ceremony was organized by the Financial Service Authority (OJK), the Indonesian Stock Exchange,Bank Indonesia, The ministry for state enterprises, the National Committee for Governance Policy, the Association of Indonesian Accountants and the Taxation Directorate General.

    In the same year, the bank also received the award of Anugerah Perbankan Indonesia (APBI) IV 2015 in a ceremony held by the Economic Review Magazine and Institute of National Banking (Perbanas) for the category of bank with core capital of Rp1 trillion up to Rp5 trillion.

    The award was presented on November 5, 2015.

    Another award, Lintas Artha Award, was received by the bank later that month.

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  • Lampung exports of instant coffee growing

    Lampung exports of instant coffee growing

    Lampung has recorded growing exports of instant coffee reaching 63.2 tons in November, 2015.

    “Exports of instant coffee has continued from month to month,” head of the provincial trade office Ferynia said here on Saturday without saying exports in the previous months.

    Lampung is a big producer of robusta coffee.

    Instant coffee from Lampung has been exported to various countries such as Vietnam, which is the worlds largest producer of robusta coffee, and Singapore.

    Exports, however, are small in comparison with domestic consumption.

    The export prospects are still encouraging, Ferynia said, adding, Lampung is aggressive in launching export promotion in a number of other countries by holding exhibitions.

    He said Lampung has managed to maintain strong foothold for its instant coffee in export markets.

    “Demand is still high and the price is good for Lampung product of instant coffee in international markets,” he said.

    The production center for instant coffee in Lampung is Bandarlampung, which has a production capacity of around 8,000 tons of the commodity per year.

    “Sales of instant coffee in the country average 50 to 100 tons per months,” Ferynia said.

    Lampung has 163,837 hectares of coffee plantations with production averaging 140,000 tons of coffee beans per year.

    Indonesia is the fourth largest coffee producer in the world and the second largest in robusta coffee production.

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