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Tag: Indonesia

  • McDonald’s challenging US market mitigated by international sales

    McDonald’s challenging US market mitigated by international sales

    Strong international sales ensured respectable McDonald’s results in the latest quarter as the fast-food giant encountered challenges in its core US market. Global sales slipped 3 per cent in the three months to December, to US$5.16 billion, although this was largely due to currency translations, without which sales would have been flat. While the company did not break out Asian performance, it said international same-store revenue rose 5.2 per cent.

    Same-store sales in the US rose 2.3 per cent, primarily due to increased prices, given foot traffic in stores fell by 2.2 per cent. Global visitor numbers crept up by a mere 0.2 per cent.

    Breakfast remains its most challenging category, with the chain struggling to attract diners in the mornings. While that mealtime accounts for about a quarter of its total sales, the breakfast market is experiencing fierce competition among rival chains.

    “We’re doing well with average check growth but we really want the customer to come back and more often,” CEO Steve Easterbrook said in an investor presentation about the McDonald’s results.

    He said McDonald’s is trying to recover breakfast customers by trialling different price promotions, launching localised advertising campaigns and improving the drive-through service.

    More stores, more kiosks

    Globally, McDonald’s plans to open a net 750 new stores this year. It will also speed up the rollout of its digital touchscreen ordering systems. Easterbrook says stores with self-ordering kiosks were achieving higher sales than those without.

    Commenting on the McDonald’s results, Neil Saunders, MD of GlobalData Retail, said the kiosks and order-by-app services need to be rolled out faster.

    “This isn’t just a case of installing and implementing the technology, it is about getting customers to actually use it. Consumers need to be given more incentives to use the new ways of ordering, especially mobile, as many still shun the technology,” said Saunders.

    “Longer term, more automation in the kitchen is also critical – something that will be particularly beneficial now McDonald’s menu options are more varied and complex.”

    Saunders described the latest McDonald’s results as “reasonable”. But he said a 6.7 per cent decline in operating income suggests that McDonald’s is having to work harder for much slimmer rewards.

    “In our view, this does not sit well with the increasing complexity and higher levels of capital expenditure the company is introducing into the business.”

    Saunders believes McDonald’s is on the right track. “However, this year will be a more challenging year than last and it will be a balancing act between keeping both customers and franchisees happy.”

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  • Indonesian Conglomerate Passes Away at 98

    Indonesian Conglomerate Passes Away at 98

    Eka Tjipta Widjaja, founder of the Sinar Mas Group, one of Indonesia’s largest conglomerates, passed away on Saturday, one month short of his 98th birthday. Eka, born Oei Ek Tjhong in Quanzhou in China’s Fujian Province on Feb. 27, 1921, was known as a tough and proven entrepreneur, which saw him become one of Indonesia’s richest tycoons, despite his humble origins.

    “He will be buried in his family’s cemetery in Marga Mulya village, Karawang district, West Java,” Sinar Mas managing director Gandi Sulistiyanto Soeherman said in a statement on Sunday.

    Eka passed away at his home in Menteng, Central Jakarta, at 7.43 p.m. His body was taken to the Gatot Soebroto Army Hospital in Senen, Central Jakarta, for a funeral service.

    Gandi said colleagues, relatives and friends were expected to express their condolences on Sunday, starting from 7 p.m., after the funeral service.

    The statement did not specify the cause of death, but Gandi mentioned in another statement to local media that Eka’s health had been deteriorating due to his advanced age.

    Eka’s family controls a widely diversified business through the Sinar Mas Group, which he founded in 1962. The group’s interests span palm oil, pulp and paper, real estate, financial services, agribusiness, telecommunications and mining, represented by various entities listed on the Indonesian and Singaporean stock exchanges.

    GlobeAsia’s 2018 Rich List estimated Eka’s net worth at $13.9 billion.

    Moved to Indonesia

    Eka and his mother migrated to Indonesia in 1931, during the Dutch colonial era, to join his father who had already settled in Makassar, South Sulawesi. There he helped his father run a small shop.

    Eka, who according to his biography only had an elementary school education, became a door-to-door salesman, peddling various goods, including candies, biscuits and various products from his father’s shop.

    He experienced both success and failure in various businesses, which included sales of coconut oil, biscuits and sesame oil, during the Japanese occupation, the early period of Indonesia’s independence and the rule of the country’s first two presidents, Sukarno and Suharto.

    King of Copra

    His business empire started in 1955 when he became a copra trader in North Sulawesi, which earned him the title, “king of copra.”

    Through the Sinar Mas Group, which he founded in 1968, Eka managed to expand his business into various areas, including banking, vegetable oil and real estate. He became well known after the establishment in 1969 of Bitung Manado Oil, which catered to up to 50 percent of demand in the Indonesian cooking oil market at the time.

    In 1972, Eka acquired caustic soda producer Tjiwi Kimia, which he transformed into the Sinar Mas Group’s first pulp and paper manufacturer. In the same year, he started Duta Pertiwi, a property developer and real estate business, and 10 years later, Sinar Mas Multiartha, an integrated financial services company.

    The group started operating its own industrial forest in 1986 through Sinar Mas Forestry, while it also has interests in communications and technology, including mobile phone operator Smartfren.

    Eka overcame many downturns during his nine decades in business, with the largest being the $14 billion default by his crown jewel, Asia Pulp and Paper, due to the 1998 Asian financial crisis. The crisis also forced him to relinquish control of many of his businesses to the government, including his flagship lender, Bank Internasional Indonesia, now known as Maybank Indonesia.

    However, Eka bounced back and his Singapore-listed Golden-Agri Resources has since become the world’s second-largest palm oil producer.

    “Despite only having completed elementary school, there was no hope or ambition too high for him,” Gandi said in the statement. “The philosophy of being honest, credible and responsible, toward family, work and social affairs, became his life’s compass.”

    The tycoon spent millions in scholarships to Indonesian students over the past decade through the Eka Tjipta Foundation and also distributed necessities to disaster-affected areas across the archipelago.

    The patriarch is survived by six children and dozens of grandchildren, who now run the family businesses.

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  • Vietnam’s startup potential lures international students, overseas Vietnamese

    Vietnam’s startup potential lures international students, overseas Vietnamese

    Founders of Wisepass, Base.vn and WeFit are educated overseas, drawn back to Vietnam by its startup potential. Lam Tran, 34, is a French overseas Vietnamese with over 10 years’ experience in marketing at Google Europe. He returned to Vietnam and founded Wisepass, a lifestyle app that connects users to a wide range of dining, leisure and entertainment services through paid membership packages.

    In 2018, Lam made WisePass available in Thailand and the Phillipines. “I believe to succeed businesses must lead their home market first, before thinking of expanding overseas,” said Lam.

    Having set up the business in HCMC and then expanded to Hanoi, Lam regularly flew to the capital city to attend events and promote his products. After selling 10 memberships in a day, Lam was able to show employees the direction and potential of WisePass.

    “Global expansion may sound intimidating, but after all, founders must start from the smallest things: talk to customers, selling products,” Lam said. There is no need to wait for big events, he added, “all you need to do is show up and market your product at appropriate places.”

    WisePass currently operates in three countries, with 300 partners and over 1,000 monthly active users.

    The founder of Base.vn, Pham Kim Hung, is well-known  in Vietnamese math circles. He won Gold and Silver medals at the International Mathematical Olympiad and is the author of a math textbook published in four languages. Graduating in computer science from Stanford University, Hung did not stay on to work in Silicon Valley but decided to return to Vietnam.

    In 2016, he launched Base.vn, a business management software under the Software-as-a-Service (SaaS) model, where software is leased under a subscription instead of installed. The app is built to unify corporate governance processes, from administration to human resources, task management, financial management to sales marketing.

    Base.vn currently serves over 500 enterprises, including many large organisations like VIB, VPBank, ACB, The Coffee House, McDonald’s and VinCommerce.

    Base.vn currently has the highest investment in all business-to-business startups in Vietnam.

    “After Indonesia, Singapore and Malaysia, we believe that Vietnam can become the next major technology powerhouse in the region,” Chandra Tjan, co-founder and partner of Indonesian fund Alpha JWC Venture said.

    In addition to Base.vn and WisePass, in the past few years, the Vietnamese startup community has received many other innovations: WeFit (fitness), Elsa (language learning), Logivan (van hiring), GotIt (gift delivery), and Uiza (video streaming). Most of these entrepreneurial efforts have been successful at carving their own niche in the Vietnamese startup ecosystem.

    Experts have said that with over 100 million people, Vietnam has great potential for socio-economic development, and with a rapidly growing middle class combined with quick adaption of digital developments, the ground is fertile for new ventures, especially startups.

    Apart from the economic potential, young people returning to Vietnam also have a sense of duty and obligation to their homeland, as also a realization that their efforts here can have greater positive impact on society as a whole, according to experts.

    Investment in Vietnamese startups rose to $889 million in 2018, three times that of 2017, according to a report recently released by Topica Founder Institute (TFI), a startup accelerator program in Vietnam and Thailand run by Hanoi-headquartered multinational educational technology company Topica.

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  • JD.com has just marked a breakthrough for drone delivery in Southeast Asia

    JD.com has just marked a breakthrough for drone delivery in Southeast Asia

    JD.com announced the completion of Indonesia’s first government approved drone flight – a breakthrough for drone delivery in Southeast Asia. The successful pilot opens the door for future commercial drone use in Indonesia and the Southeast Asia region, subject to further regulatory approvals. Representatives from Indonesia’s Ministry of Transportation, Civil Aviation and Air Navigation were present for the flight. The news was announced during the World Economic Forum Annual Meeting.

    The test flight took place on January 8, 2019, in West Java, Indonesia, where the drone flew from Jagabita Village, Parung Panjang to MIS Nurul Falah Leles Elementary School to deliver backpacks and books to students.

     

    The items delivered by drone were part of a larger donation of supplies from JD.com to the school. JD has a long history of offering philanthropic support to those in the communities where it operates. The company often taps its technology and nationwide logistics network to provide immediate support for natural disasters such as earthquakes in China.

    JD.com and its JV partner, e-commerce company JD.ID, were early movers in bringing high quality e-commerce to Indonesia. JD.ID, which launched e-commerce operations in 2016, sells 1 million SKUs and serves more than 20 million consumers across the country. Its operations leverage a logistics network consisting of ten warehouses across seven islands, covering 483 cities and 6,500 counties.

    Given the fact that the country is spread out across many islands, the implementation of drones for regular use in e-commerce deliveries, as well as other logistics-related services, will enable citizens in Indonesia to enjoy more efficient and reliable services, and help JD.ID realize its goal of being able to deliver 85% of orders same- or next-day. JD.ID is also committed leveraging its logistics and other resources to support humanitarian efforts like earthquake disaster relief.

    “It is a privilege to have contributed to this important moment in Indonesia’s history,” said Jon Liao, Chief Strategy Officer at JD.com. “We have been using drones for real deliveries in China for over two years now, and have seen the profound impact that the technology can have on people’s lives around the country. We look forward to working closely with WEF and the Indonesian government to realize the full potential of this technology, and provide more convenience to Indonesian citizens.”

    JD.com is a strategic partner of WEF and a partner of WEF’s Centre for the Fourth Industrial Revolution. The C4IR is a global hub for multi-stakeholder cooperation to develop policy frameworks and advance collaborations that accelerate the benefits of science and technology. Leveraging drone technology to deliver supplies to areas in need is a high priority on the C4IR’s agenda. WEF and JD have been working closely together to ensure the success of the pilot in Indonesia.

    “This trial represents the first government approved drone delivery operation in Indonesian history,” said Timothy Reuter, Head of Drones and Tomorrow’s Airspace at the World Economic Forum. “These tests are an opportunity for Indonesia to become a leader in the Southeast Asia region by leveraging drone delivery to improve access to vital medical, humanitarian, and commercial goods in remote areas.”

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  • Courts Asia gets buy offer from Japan retailer Nojima

    Courts Asia gets buy offer from Japan retailer Nojima

    Japanese electronics retailer Nojima Corp has launched a conditional takeover bid for Courts Asia. The deal is conditional upon Courts Asia’s majority owner Singapore Retail Group (SRG) agreeing to the deal. Offering 20.5 cents a share for the business, the offer represents a 35 per cent premium over the price shares were trading at before the bid was revealed.

    Nojima is listed on the Tokyo Stock Exchange. Like, Courts Asia, it is an electrical appliance retailer, boasting more than 8000 employees and a market capitalisation of S$1.4 billion. Sales in the year to March 31 last year were $6.1 billion.

    Courts Asia has 80 stores trading in Singapore, Malaysia and Indonesia and besides electronics sells furniture and IT products as well. The company has enjoyed mixed fortunes in recent years, impacted by external factors such as the imposition of GST in Malaysia. It reported a net loss of $3.1 million in its second quarter, a stark contrast to the net profit of $1.5 million during the same period a year earlier. Sales for the three months to September 30 fell 6.4 per cent to $165.1 million.

    Nojima says if it wins control of the company it may carry out a “strategic and operational review” of the business to realise “synergies, economies of scale, cost efficiencies and growth potential”. It will most likely delist the company in Singapore.

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  • Chibo to open Indonesia store soon

    Chibo to open Indonesia store soon

    Japanese “okonomiyaki” pancake restaurant Chibo is launching in Indonesia this month. The opening is part of the firm’s unfolding global plans to counteract a dip in the Japanese food service market. It is partnering with local operator Jaddi Foods within Indonesia’s territory. Importantly for the predominantly Islamic market, the firm will be swapping out pork for suitable Halal alternatives.

    The 188sqm venue is opening at Gandaria City Mall in southern Jakarta, seating 90 diners. It joins eight Chibo restaurants outside Japan, with sister venues in China, Hong Kong, Hawaii, the Philippines, Thailand and Vietnam. The firm is targeting 20 international outlets by March next year, with locations planned for Brazil, London, New York and Russia.

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  • Indonesia to Regulate Ride-Hailing Rates Threatens Grab, Go-Jek Expansion

    Indonesia to Regulate Ride-Hailing Rates Threatens Grab, Go-Jek Expansion

    The government is preparing to launch regulations fixing the rates drivers and riders for ride-hailing services such as Grab and Go-Jek receive, two officials said this week, creating potential obstacles for the companies’ expansion. The regulations would meet drivers’ demands for more oversight and higher rates but there are concerns that the rising costs to the companies could stifle their development as they battle to dominate the ride-hailing market in Southeast Asia’s biggest economy.

    Singapore-based Grab and homegrown Go-Jek have been locked in price wars in Indonesia, part of a wider fight to bring banking, e-commerce, ride-hailing, food-delivery and other services to every corner of Southeast Asia.

    However, since 2018, motorcycle taxi drivers working for Grab and Go-Jek in Jakarta have held protest rallies calling for higher fares and better conditions.

    The Ministry of Transportation plans to implement minimum and maximum tariffs for car and motorbike ride-hailing that will be “higher than Go-Jek and Grab’s current rates” and impose limits on promotional price cuts, said Budi Setyadi, director general of land transportation at the ministry.

    “This is for the safety and protection of drivers,” he said.

    Ahmad Yani, public transportation director at the ministry, said dependency on incentive-driven payments and low fixed rates per kilometer created a safety risk as it led to drivers overworking.

    He said Grab paid Rp 1,200 (8 US cents) per kilometer with a focus on bonuses, while Go-Jek’s rate was Rp 1,400 per kilometer.

    The officials said fixed fare ranges for motorbikes were still being finalized but would be implemented from March.

    Fixed rates for ride-hailing cars will start in June and be set at between Rp 3,500 and Rp 6,000 per kilometer on the islands of Java, Sumatra and Bali.

    The drivers were pushing for increases to a standard fare of Rp 3,000 to Rp 4,000 per kilometer.

    New Rules

    The firms said they welcomed the new rules, though they had not seen details of the motorbike regulations.”Grab believes the government will develop the best regulatory framework and hopes that all stakeholders will be included in the process,” said Tri Sukma Anreianno, the company’s head of public affairs .

    A Go-Jek spokesman said: “We support the government’s spirit to encourage our driver partners … and hope the regulation will have a positive impact on the sustainability of drivers’ income … and fair business competition.”

    However, both transportation officials said the companies are worried about the pending regulation since they have spent heavily on driver subsidies to slash their customer rates and build their businesses.

    “Grab and Go-Jek have told me they would prefer there was no regulation,” Ahmad said. “Due to the competition between them … they are scared what could happen if they don’t keep up with each other.”

    The Supreme Court blocked a previous attempt in 2017 by the transportation ministry to fix ride-hailing rates after drivers sued, saying the rules favored the taxi firms.

    Both ministry officials said the new regulations met anti-competition standards and followed extensive discussions with driver syndicates.

    Grab and Go-Jek drivers welcomed the prospect of standard fares.

    “I have been working for Grab since 2015. Before, I could earn Rp 300,000 to Rp 400,000 per day. Now, I can only get Rp 150,000,” said Hermansyah, a Grab motorcycle driver partner.

    Another driver, who had worked for both companies, said neither provided much protection, leading drivers to bear operational costs. He asked not to be identified since he had a role in organizing protests.

    The fixed rates will be a challenge to a business model that has depended on cheap passenger prices for growth and could undermine innovation.

    “Cheap fares has been the firms’ main way to attract customers,” said Yayat Suprityatna, urban and transportation observer at Trisakti University in Jakarta.

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  • Indonesia Posts Biggest Trade Gap in 2018

    Indonesia Posts Biggest Trade Gap in 2018

    Indonesia posted a wider than expected trade deficit in December, bringing the gap for 2018 to the largest ever, the Central Statistics Agency, or BPS, said on Tuesday. December’s trade deficit was $1.10 billion, in a third consecutive month where the gap was wider than market expectations. A Reuters poll had expected a deficit of $930 million. Southeast Asia’s largest economy had a deficit of $8.57 billion in 2018, the widest ever, a stark contrast to its $11.84 billion surplus in 2017, BPS chief Suhariyanto said.

    Last year was challenging because exports had slowed at a time when imports surged due to a recovering domestic economy, said Josua Pardede, an economist at Bank Permata in Jakarta. This year would probably be equally challenging, he said.

    “Global economic growth is stagnating. Growth in our major trading partners such as China, the United States, Japan and Europe is slowing. If we can’t find new destinations for our products, export growth could slow further,” Josua said, noting that falling oil prices could cool down imports.

    Economists also warned that the trade data could mean Indonesia’s current-account deficit in the final quarter of 2018 was also wider than expected.

    Bank Indonesia Governor Perry Warjiyo previously said the current-account gap in the fourth quarter was expected at more than 3 percent of gross domestic product, though the full-year gap was seen at about 3 percent.

    The authorities issued a slew of measures to control imports last year, including mandating wider use of biodiesel, raising import tax and delaying big, import-heavy infrastructure projects.

    The central bank also raised interest rates six times by a total of 175 basis points last year to try to bring the current-account gap down, and Perry said the deficit in 2019 was expected at 2.5 percent.

    Fakhrul Fulvian, Trimegah Sekuritas economist, said December trade data proved that Indonesia may need to slow its GDP expansion further to “bring back the balance” and improve the current-account deficit.

    In December, exports dropped 4.62 percent to $14.18 billion on a yearly basis, a second month of contraction, compared with the poll estimate of 1.81 percent increase, largely because of a slump in shipments of mining products.

    Exports to China, Indonesia’s largest trading partner, also fell in December mostly because of a decline in coal and steel sales.

    Meanwhile, December imports were worth $15.28 billion, 1.16 percent up from a year ago, but slower than the forecast of 6.6 percent.

  • Indonesia to put tax on e-commerce transaction

    Indonesia to put tax on e-commerce transaction

    The Ministry of Finance said on Monday that it will impose new rules requiring e-commerce sellers to share data with the authorities, while also stressing that they must pay taxes. Surging smartphone use and a rising middle-class income in Indonesia, home to 260 million people, has made its e-commerce industry a battleground for foreign investors.

    Global consultancy McKinsey projects spending in the Indonesian e-commerce market to rise to as much as $65 billion by 2022, from $8 billion last year, similar to the growth trajectory experienced in China between 2010 and 2015, and the government is trying to squeeze more from a market that traditional retailers have alleged avoids taxes.

    From April, all operators of online marketplaces will have to detail each seller’s turnover and report this to the authorities, the ministry’s tax spokesman Hestu Yoga Saksama said.

    The rules would apply to all online marketplace operators in Southeast Asia’s largest economy, including Lazada and Tokopedia, which are both backed by Chinese e-commerce giant Alibaba, and Bukalapak, which counts China’s Ant Financial among its investors.

    The Directorate General of Taxes said an online seller that makes at least Rp 4.8 billion ($340,000) in turnover must charge value-added tax to customers and pay this to the authorities.

    A seller must also pay income tax of 0.5 percent of turnover if it is a small or medium business, or a 25 percent corporate tax of profit if it is big enterprise, bringing the sector in line with requirements for conventional retailers.

    There were no new taxes being applied, but the rules were put in place to clarify what taxes each player in a marketplace is obliged to pay and to “create an equal treatment with conventional businesses,” the tax office said.

    The Indonesian E-Commerce Association (idEA) criticized the new rules, saying online sellers would instead choose to sell their products through social media, CNBC Indonesia reported.

    Tokopedia and Bukalapak both said they are still studying the possible impacts caused by the rules.

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  • Courts Indonesia to close its store soon

    Courts Indonesia to close its store soon

    Courts Asia is to close one of its Indonesian megastores. “The group decided to close the Courts Bumi Serpong Damai (BSD) City Megastore in Tangerang as it is historically not profitable and the group does not want to incur the high rental costs over the remaining lease term,” the retailer said in a statement. Courts Retail Indonesia will also buy the property it currently leases which houses the Kota Harapan Indah (KHI) megastore.

    Both properties were leased from Garwita Sentra Utama. Courts will forfeit a security deposit of Rp14.38 billion (S$1.379 million) and pay a penalty for early termination of the BSD site of Rp 38.7 billion ($3.6 million). The Singapore company will pay Rp97.56 billion (S$9.36 million) to purchase the other site.

    The KHI store has a total gross floor area of 21,800sqm, with about 24 years remaining on the lease.

    Courts said in its statement that the property reorganisation was part of an ongoing review of its store network.

    Having taken ownership of the KHI building, the company can consider options including downsizing its megastore and repurposing the remaining space for other commercial uses.

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  • Uniqlo sales performs well globally, not in hometown

    Uniqlo sales performs well globally, not in hometown

    Fast Retailing Group has reported a decline in revenues for Uniqlo Japan against broader successes internationally in its first quarter. A sharp profit decline on sluggish sales of seasonal ranges during a warm winter in Japan has given rise to disappointing results in the Uniqlo brand’s home territory. Uniqlo Japan posted revenues of ¥246.1 billion (US$2.27 billion), a decrease of 4.3 per cent year on year, with first-quarter profit before taxes of ¥111 billion ($1.03 billion), down 5.7 per cent; and profit attributable to owners of the parent firm of ¥73.4 billion ($678.4 million), down 6.4 per cent. Online sales expanded favourably in the market, however, showing an increase of 30.9 per cent.

    Uniqlo International saw an operating profit far exceeding that of Uniqlo Japan, with revenues at ¥291.3 billion (2.69 billion) up 12.8 per cent. Uniqlo Greater China and Uniqlo South Korea both reported higher sales and profits despite the dampening effect of the warm winter. Uniqlo Southeast Asia & Oceania continued to report significant revenue and profit gains.

    The report said Fast Retailing’s consolidated business estimates for the financial year ending August 31 remain unchanged from the initial forecasts released last October, predicting an 8 per cent expansion in revenue and 14.3 per cent increase in operating profits.

  • Starbucks opens its Coffee Sanctuary in Bali

    Starbucks opens its Coffee Sanctuary in Bali

    Starbucks has opened its largest Southeast Asian location in Bali. The 20,000sqft Starbucks Dewata Coffee Sanctuary builds on 16 years of innovation in design, customer experience and community impact for the brand in Indonesia, where there are 370 Starbucks outlets nationwide. Customers can enjoy Starbucks handcrafted core and Reserve beverages within the store’s locally-inspired design that celebrates Indonesian tradition.

    The store pays tribute to the role that Indonesia, the fourth largest Arabica coffee-growing region in the world, plays in the Starbucks business. Sumatran coffee has been a staple offering at Starbucks since 1971.
    “We began sourcing Indonesian coffees more than four decades ago and have always been struck by the sense of community and care for the coffee journey at every step,” said Starbucks Coffee Company CEO Kevin Johnson.

    View the gallery of the new outlet below (8 images) :

    “The Starbucks Dewata Coffee Sanctuary amplifies our passion for the coffee journey, our ongoing commitment to Indonesia’s rich coffee culture, and our tireless pursuit of fostering moments of connection between our partners and customers. The Coffee Sanctuary marks the 10th Starbucks Reserve Bar store in Indonesia, one of 185 stores around the world, with the majority in Asia. This is Starbucks at its best, and we are proud to open the doors of this unique experience in one of Southeast Asia’s most dynamic markets.

    Visitors enter the store through an arabica coffee farm, try their hand at coffee bean de-pulping and washing during harvest season, dry and rake green coffee beans, visit budding seedlings in the nursery, take in the store’s locally-inspired design featuring traditional Balinese craft and Indonesian art, and enjoy the more than 100 Dewata-exclusive handcrafted beverages, food and merchandise, including the Lavender Latte.

    The  Starbucks Dewata Coffee Sanctuary store’s expansive interior is inspired by traditional Balinese houses with free-flowing, connected rooms designed to promote discovery from one space to the next.

    “Bali has an envied reputation as one of Asia’s top travel destinations and Indonesia is one of coffee’s most extraordinary coffee origin regions,” said Starbucks Indonesia director Anthony Cottan said.

    “So we’re excited to invite customers here to ignite their senses and explore the seed-to-cup coffee journey at this unique Coffee Sanctuary. We’re very pleased to further strengthen the longstanding partnership between Starbucks and [licensee] PT Sari Coffee Indonesia with this truly one-of-a-kind Starbucks store, inspired by and filled with the finest examples of Indonesian art, design and craftsmanship.”

    To support the future of coffee, Starbucks Indonesia has committed to donating 100,000 coffee seedlings to farmers annually.

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  • Indonesia’s Go-Jek rejected in the Philippines

    Indonesia’s Go-Jek rejected in the Philippines

    Indonesia’s Go-Jek suffered a setback to its expansion plans on Wednesday after the transportation regulator in the Philippines rejected its application to launch a ride-hailing service, saying its domestic unit did not meet local ownership criteria. However, the setback may only be temporary as the firm, whose backers include Google, could appeal the decision or team up with Philippine investors.

    “Go-Jek can get a local partner that will own at least 60 percent of the ride-hailing entity to comply with the law,” said January Sabale, head of communications at the Land Transportation Franchising and Regulatory Board (LTFRB).

    The decision comes as Go-Jek seeks to expand in Southeast Asia, having evolved from a ride-hailing service founded in 2011 to provide a one-stop app through which users can order food and services such as massages and make payments online.

    The firm has raised billions of dollars from investors such as Tencent Holdings, JD.com and Temasek Holdings to challenge market leader Grab.

    Several Philippine ride-hailing firms have been operating in the capital Manila and in major provinces since March 2017, but have had limited success in wresting domestic market share away from Singapore-based Grab, which stands at over 90 percent.

    “Homegrown firms are not making a dent on early player Grab, because the cars they can enroll now have to go through the LTFRB’s filtering hurdles,” said Rene Santiago, a transportation expert and president of Bellwether Advisory in Manila.

    Go-Jek applied for a license to operate in Manila in August through wholly owned subsidiary Velox Technology Philippines. Later the same month, ride-hailing was added to a list of industries where foreign ownership is limited to 40 percent.

    Velox “did not meet the citizenship requirement and the application was not verified in accordance with our rules,” regulator chairman Martin Delgra said

    A spokesman for Go-Jek said: “We continue to engage positively with the LTFRB and other government agencies, as we seek to provide a much-needed transportation solution for the people of the Philippines.”

    There are around 37,000 registered ride-hailing vehicles across eight accredited firms, Delgra said. The Department of Transportation has capped the total at 65,000.

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  • KoinWorks Indonesia Announces Investment From Quona Capital

    KoinWorks Indonesia Announces Investment From Quona Capital

    Indonesian peer-to-peer lending platform KoinWorks said in a statement on Monday that it has received an investment from US-based venture capital firm Quona Capital. “We’re very happy we could collaborate with Quona as one of our investors,” said Benedicto Haryono, chief executive and co-founder of KoinWorks. “With the inclusion of Quona among our line of investors, it will further help develop KoinWorks in becoming a responsible peer-to-peer lending firm and continue to innovate and provide a positive impact for society,” Benedicto added.

    Quona Capital focuses on investment in financial technology companies it deems to have potential in facilitating access to financial products. The Washington-based company provides financial access in various regions, including Latin America, Africa, Britain and Asia.

    KoinWorks said in the statement that the collaboration between itself and Quona Capital is based on a mutual understanding that technology has a strong role in improving quality and access to financial access for those beyond the reach of traditional banks.

    The Jakarta-based fintech company, which has 100,000 investors on its platform, is one of the first fintech companies in the country to have obtained a license from the Financial Services Authority (OJK).

    KoinWorks bridges the gap between investors and investees through its online platform and provides unbanked individuals with access to financial services.

    The company focuses on business and educational loans. It won Bisnis Indonesia’s Most Innovative Fintech of the Year award in 2017.

  • Chinese Smartphone Realme Eyes to Expand Southeast Asia

    Chinese Smartphone Realme Eyes to Expand Southeast Asia

    BBK Electronics’ budget smartphone brand Realme is eyeing expansion into Southeast Asia, Africa and Europe. The company’s online distribution strategy has brought it success in the Indian market and makes broader expansion possible, according to Realme global CEO Sky Li Bingzhong. “The company’s asset-light operations and focus on online sales allow it to keep costs low. That way, more young consumers can afford its products, which makes the brand more competitive in the market,” said Li.

    Realme launched in India in May last year with handsets priced at INR8,990 (US$129) – becoming the second top-selling smartphone brand during the Diwali festival season from October to November. The brand has joined a number of Chinese phone manufacturers seeking to build strength in the Indian market as they challenge more established international competitors in more saturated markets.

    BBK also owns the Oppo, Vivo and OnePlus brands, selling mid- to high-end models. Independent Realme runs its own R&D operations, but partners with Oppo in smartphone production. Its expansion moves are indicative of Chinese phone manufacturers’ larger strategy to deploy varying brands that each target specific markets globally.

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