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Tag: Indonesia

  • Tesla May Build A Battery Plant In Indonesia

    Tesla May Build A Battery Plant In Indonesia

    Tesla is reportedly planning to build a facility for making batteries in Indonesia a report by CNBC revealed. “Minister of Industry (Menperin) Agus Gumiwang confirmed about Tesla’s plan, he said that Tesla would later be directed to build a factory in Batang. Currently, the discussion process between Tesla and the government is still ongoing,” says the report.

    “I said you put the investment here today, we will give the reserves. So, if we always change from commodity base to downstream. So, we see production downstream. That will turn Indonesia into a great country into the global supply chain,” said Indonesia’s coordinating minister of maritime affairs and investment, Luhut Binsar Pandjaitan.
    Reportedly, this facility would come up in Batang. All this comes after Tesla CEO Elon Musk pleased with mining companies to increase their Nickel production. Tesla was already in talks with the Indonesian government for building a new venture for nickel as the South East Asian country has rich reserves of the mineral.

    Indonesia has banned exporting Nickel which could be one of the reasons why Tesla is now keeping to invest in the country. Tesla has already outlined its vision for scaling the production of its batteries to 200 GWh by 2023 and 3 TWh by 2030 and the only way it will achieve this ambitious target is by having a facility in Indonesia.

  • Payments Platform PPRO Enters Indonesia

    Payments Platform PPRO Enters Indonesia

    The cross-border payments specialist is integrating e-wallet leaders Doku and Ovo into its global portfolio. The new integrations help to accelerate market entry and boost conversion for businesses hoping to tap on Southeast Asia’s largest e-commerce market, where credit card penetration is less than 5 percent of the population, the company said in an announcement.

    PPRO’s local payments platform-as-a-service provides partners with the ability to accept locally preferred payment methods through one contract and one API. Its integrations feature a total of four payment types: e-wallet, internet banking, bank transfers, and cash for consumers who prefer to pay at ATM and convenience stores.

    Indonesia is a strategic market for our top-tier customers and their merchants, who are being pressed to globalize faster than ever in the wake of the pandemic. Indonesia is also one of the world’s most complex regions regarding compliance, regulations, and consumer preferences, Kelvin Phua, PPRO global head of payment networks, said.

    Indonesia’s e-commerce market is set to grow 50 percent year-over-year to $35 billion in 2020, with many consumers using online shops for the first time this year due to the pandemic, PPRO said, citing a recent survey by management consulting company Redseer

    Founded in 2006, PPRO is backed by the likes of PayPal, Citi Ventures, and HPE Growth Capital. The company currently works with Alipay, WeChat Pay, GrabPay, Bancontact, iDEAL, BLIK, Boleto Bancario, and other local payment methods on its platform.

    In 2019, the company began its push to increase global coverage with the expansion of its Asia-Pacific (APAC) operations out of Singapore and partnered GrabPay to support its payments and e-commerce solutions in Singapore.

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  • New Wealth to Grow Distribution in Indonesia

    New Wealth to Grow Distribution in Indonesia

    The Singapore-based digital wealth engagement solutions provider has its sights on the retail and affluent banking segments in Indonesia.

    New Wealth has inked a strategic partnership with digital engineering firm HAXtech to distribute its solutions to banks, insurance, and fintech firms in Indonesia, the company announced in a press release on Friday.

    The partnership promises improved market access, faster project delivery, and enhanced in-country client support, New Wealth said in the announcement.

    CEO Löic Pitrou said the company is currently expanding its ability to deliver multiple digital finance projects in Indonesia to support the fast-growing digital savings and wealth management sector there.

    Pitrou, a digital finance strategy and Robo-advisory specialist, founded New Wealth company in 2018. Its senior management team includes head of the experience lab Sudhir Nain and chief technology officer Simon Mazas. The company provides sales and advisory tools and applications for both relationship managers and self-directed investors.

    Its clients and partners include Commonwealth Bank, Standard Chartered, Morningstar, Eastspring, and Savio, according to its website.

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  • The airline founder building Asia’s next super app

    The airline founder building Asia’s next super app

    AirAsia’s founder Tony Fernandes is building what he hopes will be the region’s next “super app” as he deals with the coronavirus travel downturn. He wants to rival the likes of Grab, GoJek, and WeChat with an all-in-one app for food delivery, shopping, payments, entertainment, and travel. As the airline’s boss, he has been looking at new ways to generate income while his planes were grounded. AirAsia has struggled during the pandemic and cut 30% of its staff.

    Mr. Fernandes said he has spent his time during the travel slump improving the AirAsia app and the company’s payments platform BigPay.

    “The downturn was a blessing in disguise in some ways as it allowed us to focus more on it. Running an airline takes up a lot of our time but we have been given the opportunity and time to focus on our digital business.”

    AirAsia already has a “rich database” of over 60 million users as its starting point. The AirAsia app, which also offers users a messaging service, has set its sights on super apps like Singapore-based Grab, Indonesia’s GoJek, and China’s Meituan.

    “AirAsia has always been a digital company. We were one of the first airlines to sell online. It’s in our bloodstream,” added Mr. Fernandes, who is also a major shareholder of English football club Queen’s Park Rangers (QPR).

    “I know a super app sounds like a lofty target but Grab and GoJek also started out small as food or mobility apps. Plus people also questioned me the same way when I said I wanted to start AirAsia.”

    Mr. Fernandes’ airline has now grown to become Asia’s biggest budget carrier. Last year AirAsia launched its own record label called RedRecords in partnership with Universal Music. The aim is to discover stars from South East Asia who will appeal to a Western audience. The first major signing, Thai pop star Jannine Weigel, has already built up millions of followers across social media.

    “Boy have we got something special with the record label. The Koreans have shown how Asian music can appeal to a global audience with K-pop and there is huge potential for southeast Asia.”

    “This also helps us engage with a younger audience and gives lots of content for our app.”

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  • June Indonesian retail sales down again

    June Indonesian retail sales down again

    June Indonesian retail sales fell 17.1 percent over the same month last year – but that decline was slower than during the previous month.

    According to data from the country’s central bank, retail sales fell by 20.6 percent in May, as the Covid-19 pandemic forced store closures and consumers stayed home.

    Sectors to show improvement were food, beverages & tobacco, along with communication services.

    The Bank Indonesia is expecting the decline in Indonesian retail sales to further slow in July, to 12.3 percent.

  • Jakarta-based cafe chain Maxx Coffee launches in Singapore

    Jakarta-based cafe chain Maxx Coffee launches in Singapore

    Indonesian cafe chain Maxx Coffee has launched its first international outpost in Singapore as the first move towards expansion in Asia.

    Partnering with local operator Oue Restaurants, the new outlet opens today at Jem serving Indonesian single-origin coffee as well as a food selection and the brand’s signature beverages.

    “After 80 successful outlets in 23 cities across Indonesia, our goal remains consistent; to provide a social canvas fit for modern coffee lovers to create meaningful moments over great coffee,” said Oue Restaurant CEO Brian Riady.

    “With the burgeoning third-wave coffee culture in Indonesia and the rising global popularity of Indonesian coffee and coffee culture, Maxx Coffee is ripe for the picking.”

    “Maxx Coffee serves more than just a daily cuppa,” said PT Maxx Coffee Prima CEO Mehdi Zaidi. “Designed to cater to the modern coffee lover’s lifestyle, our outlets are a mix of co-working spaces that enable an exchange of ideas, booths to spark conversations and cosy corners for anyone who wants a quiet space to enjoy a book.”

    The new outlet’s interior features a light wood decor with an open espresso bar and food counter.

    The majority of Maxx Coffee’s specially sourced roasts are single-origin grade 1 Arabica coffee beans from Brazil Cerrado, Sumatera Lintong, Java Ciwidey, and Aceh Gayo.

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  • Gojek Consolidates to Focus on Core Services

    Gojek Consolidates to Focus on Core Services

    The company is laying off 430 staff – 9 percent of its workforce – to prioritize its core businesses of payments, transport, and food delivery. Southeast Asian on-demand multi-service platform and digital payment technology group Gojek will be shuttering several non-core services that have been impacted by the pandemic and will streamline the company structure for future growth and sustainability, the company said in a statement on Wednesday.

    The layoffs will be Gojek’s only Covid-19 related layoffs, the statement said, noting that many of the 430 staff leaving are from its GoLife and GoFood Festivals businesses that will be closed, owing to a «significant downturn over the past few months as the COVID-19 pandemic has affected consumer habits.»

    Focusing on our core services, shutting down verticals that are no longer viable during this period, and making bold bets on changing customer needs will ensure that we continue making a positive impact on the lives of millions of people while securing future growth, co-CEOs Andre Soelistyo and Kevin Aluwi said in an internal email sent to staff.

    Launched in 2011, Gojek has been expanding its ride-hailing platform to include a range of on-demand services and allow its customers to make online payments and has been beefing up its coffers to take on regional rival Grab, with a focus on supporting payments and financial services in the region.

    In March, Gojek completed a $130 million deal for Jakarta-based mobile point-of-sale (POS) market leader Moka, making it a major player in Indonesia’s digital payments space. It’s Gopay platform has focused on increasing access to the digital economy among micro, small and medium enterprises, the majority of which continue to rely on cash to operate.

    In June, Gojek announced that Facebook and PayPal had joined as investors in its current fundraising which has reached almost $3 billion and also includes Visa, Tencent, Google and more. As part of the agreement, PayPal’s payment capabilities will be integrated into Gojek’s services and the two companies will also collaborate to allow customers of GoPay, Gojek’s digital wallet, to gain access to PayPal’s network of merchants globally.

    The news follows Grab’s announcement on 16 June that it would be letting go of 5 percent of its workforce as part of plans to become a leaner organization to better face challenges of a post-Covid economy. Founder Anthony Tan said the strategic roadmap for Grab Financial, which is a «long-term bet for the future,» remains unchanged

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  • Indonesia’s Fabelio raises US$9 million for future expansion

    Indonesia’s Fabelio raises US$9 million for future expansion

    Indonesian online furniture retailer Fabelio has raised US$9 million in a Series-C funding round led by Taiwanese venture firm AppWorks.

    The investment now boosts Fabelio’s total funding above $20 million, with the firm on track to closing the funding round by the end of the year, with a public offering scheduled for 2022.

    “We have not decided on the destination for the IPO,” a source from Fabelio said, “but the main consideration is the scale of the business. Of course, we will consider raising from private markets as well”.

    Other investors participating in the round are Endeavour Catalyst and MDI Ventures, backed by Telkom Group, as well as Aavishkaar Capital.

    The new funding will assist in the firm’s expansion push by bolstering its supply-chain network with further logistics hubs and experience centres.

    “Our main focus will be to improve our product categories and improve delivery times,” said Fabelio co-founder and CEO Marshall Tegar Utoyo

    “Additionally, we are seeing more US and Chinese companies are setting up operations in Indonesia, opening up opportunities for global trade and manufacturing. These market trends, combined with their efforts, will enable us to win a larger market share in this exciting $6.7 billion home furniture market in Indonesia.”

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  • Retail sales in Indonesia drop dramatically

    Retail sales in Indonesia drop dramatically

    Retail sales in Indonesia have fallen by 16.9 percent during the month of April compared to last year, according to government data.

    The drop is the steepest within the territory in 14 years and is the result of a steady decline in retail sales of a range of products surveyed by the Indonesian central bank.

    The decline is 4.5-per-cent deeper than comparable figures for the previous month, while retail sales in Indonesia declined by a more modest 0.8 percent during February.

    Even worse figures are expected for May, however, as the advent of Covid-19 saw people forced to implement social distancing.

    The Bank Indonesia now predicts sales figures to show a heavy 22.9-per-cent fall in volume year on year for last month.

  • AirAsia Indonesia to resume flight this month amid relaxation of restrictions

    AirAsia Indonesia to resume flight this month amid relaxation of restrictions

    AirAsia Indonesia will resume flights on June 19 as the country has gradually relaxed rules on large-scale social restrictions, the airline said today. President director of AirAsia Indonesia Veranita Yosephine Sinaga said that preparations for the resumption of scheduled flights had been carried out.

    “AirAsia is committed to serving the needs of traveling or transporting goods to across the country and abroad through special charter flights for passengers and cargoes,” she remarked.

    The airline said that travelers flying with AirAsia in the future are required to understand and strictly adhere to and comply with health and immigration requirements, and the travel restrictions set up by the governments of the country of origin and those of the destination, local media reported.

    The airline said it will gradually reinstate its services around the networks once the global health situation improves and regulatory restrictions are terminated.

    Indonesia has gradually relaxed its restrictions during the Covid-19 pandemic in the hope of a pickup in business activities but also heeded the areas where transmission rates remain afloat.

    Covid-19 has killed 1,851 people across Indonesia and infected 31,186 others, the Health Ministry reported today.

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  • Vely Vely selects Indonesian YouTube rising star to boost SE Asian brand

    Vely Vely selects Indonesian YouTube rising star to boost SE Asian brand

    South Korean cosmetic brand Vely Vely is banking on Indonesian YouTube star “Sunnydahye” to increase brand awareness as it launches into Southeast Asia.

    Sunnydahye is one of the most popular KoLs in Indonesia with more than 1.8 million subscribers on her YouTube channel. Using Sunnydahye’s influence in Indonesia and across Southeast Asia, Vely Vely hopes to accelerate its overseas market entry.

    The brand recently hosted her at its five-story flagship store in the Seoul district of Sangsu-dong.

    During her time in South Korea, Sunnydahye was introduced to Vely Vely’s latest beauty line including face mists and eye shadows. The Indonesian KoL later reviewed the products online.

    “We are very much pleased to invite Sunnydahye who has a large fan base in Indonesia while the level of interest in K-beauty is increasing in the Southeast Asian region,” said a company spokesperson. “With Sunnydahye, we will be able to introduce Vely Vely and Imvely brands to a greater number of customers in Indonesia.”

    Sunnydahye’s video review has attracted more than 250,000 views and 1000 comments, attesting to the South Korean brand’s growing popularity in Indonesia.

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  • GoJek and Deliveroo join forces in Singapore

    GoJek and Deliveroo join forces in Singapore

    Indonesian ride-hailing operator Gojek and Deliveroo, the food-delivery service, have joined forces in Singapore.

    Following a change in law allowing taxis to provide food and grocery deliveries – in response to increased demand during the Covid-19 lockdown – drivers will now have the option of making food deliveries around central Singaporean locations as a way to supplement their income, reports Channel News Asia.

    Many drivers on the platform have reported an income drop of up to 70 percent during the lockdown period, with some subsisting on grocery vouchers provided by a support fund established by the firm. Now they will be able to help ends meet by serving both GoJek and Deliveroo.

    “By strengthening Deliveroo’s supply of delivery riders, the company can better cater to the increased demand for food delivery during the current ‘circuit breaker’ period, when more people are eating at home,” said Gojek.

    The firm is also participating in a charitable effort to provide meals to vulnerable single-parent homes in the territory.

    Several competing ride hailers and taxi services are already providing food delivery solutions, with arch-rival Grab offering its own food platform. Gojek has its own food delivery platform in Indonesia.

    Gojek will “continue to find ways to look after our driver-partners and support the wider Singapore community,” said Singapore GM Lien Choong Luen.

  • Indonesia’s Bank Rakyat Receives Bids for Life Insurance Unit

    Indonesia’s Bank Rakyat Receives Bids for Life Insurance Unit

    Talk are ongoing and an agreement could be made in the next few weeks. The insurance arm of the French bank BNP Paribas and Hong Kong insurance group FWD are said to be among the parties that have bid on a significant minority stake in Asuransi BRI Life, the life insurance arm of Indonesia’s Bank Raykat, Bloomberg reported on Thursday.

    BNP Paribas Cardif has reportedly submitted the highest bid, according to people familiar with the matter, the report said.

    According to the publication, this is at least the third attempt by the bank, Indonesia’s oldest lender, to sell a stake in the unit.

    FWD and BNP Paribas Cardif were already among interested parties when Bank Rakyat tried to sell 40 percent of the unit in 2015. It revived the plan in 2018, hiring Morgan Stanley to advise on the process, though it was put on hold. It revived the plan to sell a $500 million stake in March this year.

  • Kopi Kenangan eyes fast expansion after US$109 million investment

    Kopi Kenangan eyes fast expansion after US$109 million investment

    Southeast Asian non-franchise grab-and-go beverage retailer Kopi Kenangan has raised US$109 million in Series B funding led by the firm’s existing investor, Sequoia Capital.

    The funds will help Kopi Kenangan strengthen its operations in Indonesia, launch new products, invest in technology enhancements and protect employees during the ongoing coronavirus pandemic. The company has also revealed plans to offer a wider range of food and beverage products from local merchants as well as its cloud kitchens.

    Horizons Ventures, B Capital, Verlinvest, Kunlun, Alpha JWC Ventures and Sofina also participated in the round as new investors

    The firm serves locally sourced coffee priced for the mid-market and available at kiosks throughout the territory or via online delivery. It was an early responder to the Covid-19 threat and provides protective medical gear, donations, and free coffee for frontline healthcare workers within Indonesia.

    “The hospitality industry is facing the biggest existential crisis of our generation,” said Kopi Kenangan co-founder and CEO Edward Tirtanata. “It’s hard to tell when the sector will return to normal but when it does, it will look very different. As a growing startup, we are adapting quickly to the challenge through contactless commerce and uncompromising hygiene standards throughout our stores. The well-being of our employees is a big priority and we are investing in their safety, along with enhanced health benefits and additional training to help them cope with this massive change.”

    The firm’s current target is to have 500 outlets in operation by the end of the year over its current 324 stores, which already employ 3000 staff. It is then looking to expand into Thailand, the Philippines, and Malaysia following the resolution of the coronavirus crisis.

    Kopi Kenangan recently hired Facebook co-founder Eduardo Saverin to its board of directors.

  • Indosat Ooredoo Reports Revenue Growth of 8% for Q1 2020 Year-on-Year

    Indosat Ooredoo Reports Revenue Growth of 8% for Q1 2020 Year-on-Year

    President Director and CEO Indosat Ooredoo, Ahmad Al-Neama, said, “Building on the growth momentum from 2019, Indosat Ooredoo has delivered a strong performance in Q1’20. We are on track with our 3 years’ turnaround plan and see positive momentum continuing in the coming quarters. We all are facing unprecedented challenges and Indosat Ooredoo has been taking proactive & progressive steps to ensure that we support our employees, customers, and community in this challenging situation. We were amongst the first to implement virtual ways of working for our employees to ensure their health and safety. We have accelerated our network rollout plan to make sure that people can stay connected during these times. Steps have been taken to support business continuity for enterprise customer and Indosat Ooredoo continues to support government initiatives in these tough times. Indosat Ooredoo remains committed to accelerating Indonesia’ digital economy agenda and will continue to support to navigate our country through this pandemic.”

    Revenues of IDR6,523.1 billion were recorded for 1Q 2020, an increase of IDR476.9 billion or 7.9% higher compared to 1Q 2019. Indosat Ooredoo’s Cellular, MIDI, and Fixed Telecommunication business each contributed 82%, 15%, and 3% respectively to the consolidated operating revenues for the period ended 31 March 2020. Indosat Ooredoo recorded net loss of IDR605.6 billion, increased by IDR313.1 billion over net loss recorded in 1Q 2019 primarily driven by one-off impact of organization rightsizing and loss on foreign exchange.

    The Company operated 133,186 BTSs as of 31 March 2020, adding 51,680 BTSs compared to last year. To date, the Company has operated 52,174 4G BTS.

     

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