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Tag: Indonesia

  • PepsiCo Cuts Ties With Indofood’s Palm Oil Unit Over Labor Abuse Claims

    PepsiCo Cuts Ties With Indofood’s Palm Oil Unit Over Labor Abuse Claims

    Food and beverage giant PepsiCo has suspended procurement from a palm oil supplier over claims of labor abuses on its Indonesian plantations, a move hailed by campaigners on Wednesday (24/01).

    A 2016 probe by several campaign groups alleged there were child labor and worker exploitation, such as low wages and hazardous working conditions, on Indonesian plantations operated by Singapore-listed Indofood Agri Resources (IndoAgri).

    Although IndoAgri has taken action to address the complaints, PepsiCo said it decided to suspend ties “pending further progress and visibility around the issues” after it looked into the allegations.

    “PepsiCo is very concerned about the allegations that our policies and commitments on palm oil, forestry stewardship and human rights are not being met,” it said in a statement.

    Neither IndoAgri nor its parent company, Indofood, were immediately available to comment. IndoAgri said on its website that it has a sustainable palm oil policy which ensures human rights are respected.

    Businesses are facing increasing pressure from governments and consumers to disclose what actions they are taking to ensure their supply chains are free from modern-day slavery.

    Indonesia is the world’s largest palm oil producer but it has been regularly linked to the destruction of rainforests and wildlife habitats, as well as displacement of indigenous communities.

    IndoAgri is a subsidiary of Indonesian food manufacturer Indofood, which produces PepsiCo’s snacks in Indonesia under a joint venture partnership. The joint venture sourced palm oil from IndoAgri.

    The investigation was carried out by San Francisco-based Rainforest Action Network (RAN), Indonesian labor rights group OPPUK and Washington-based International Labor Rights Forum.

    “After years of denial, PepsiCo has admitted to the high risks associated with its palm oil supply chain and business partner,” RAN campaigner Robin Averbeck said in a statement.

    Palm oil, used in soap, cosmetics and food spreads, has been one of the fastest expanding crops in the last few decades.g

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  • Indonesia Ranks Higher in 2018 Global Talent Competitiveness Index

    Indonesia Ranks Higher in 2018 Global Talent Competitiveness Index

    Indonesia improved its ability to attract professionals and keep the existing skilled workforce, the annual Global Talent Competitiveness Index showed on Wednesday (24/01).

    The report was released during the World Economic Forum by graduate business school Insead, which has campuses around the world.

    For the study Insead cooperated with staffing company Adecco Group and telecommunications services provider Tata Communications.

    Indonesia ranked 77th out of 119 countries, which is a leap from last year’s 90th position.

    According to the study, Indonesia has strong employability, as through vocational education and technical training it prepares domestic talents to match the skills needed by the economy.

    Despite the position rise, however, the largest economy in Southeast Asia still lags behind Singapore, which ranks second, Malaysia (27th), the Philippines (54th) and Thailand (70th).

    The Global Talent Competitiveness Index considers four “pillars” called “enable” (reflecting a country’s regulations and markets), “attract” (reflecting a country’s capability to lure resources), “grow” (reflecting the ability to improve self-competence through education and training), and “retain” (reflecting an ability to maintain domestic and overseas talent).

    The report said Indonesia has a lot of homework “to catch up on all the pillars” to cultivate a talent pool large and competitive enough to support its growth in the competitive global economy.

    The index drew data from public sources: the United Nations Educational, Scientific and Cultural Organization (Unesco) for quantitative data; the World Bank’s World Governance Indicators and Doing Business Report for composite indicator data; and the World Economic Forum’s Executive Opinion for survey data.

    This year’s report highlighted the critical role diversity plays in linking talent policies to innovation strategies to increase talent competitiveness.

    “Eventually, diversity has come to be understood as an essential enhancer of corporate productivity and performance. Recruiting the best talent is essential. But evidence shows that diversity can actually trump talent,” Alain Dehaze, chief executive officer of Adecco Group, said in a statement.

    According to the report, diversity can be a national resource, as it will create innovative and competitive working environments, especially in the era of automation, which makes people with different knowledge and experience join together in problem solving.

    “If there is a high diversity of social mobility … then the richness of knowledge, perspective and networks pushes economic performance even higher via increased innovation,” Insead said in the report.

    Developed, high-income countries continue to top the ranking, 15 of them being European countries with well-developed education systems, flexible business regulators, employment policies highlighting adaptability, social protection and internal and external openness.

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  • Garuda Indonesia Workers’ Union Demands Revamp of Management

    Garuda Indonesia Workers’ Union Demands Revamp of Management

    Flag carrier Garuda Indonesia’s employees union urged the government to revamp the company’s management and board of directors, saying they feared the carrier will keep losing money in years to come if no change is forthcoming.

    The head of the union, Serikat Pekerja Garuda (Sekarga), Ahmad Irfan said rs on Tuesday (23/01) they had written a letter to President Joko Widodo outlining their demands, but have yet to receive any response.

    “We also want to discuss this with the State-Owned Enterprises Minister next month,” said Ahmad, adding that the union is confident the government will be on their side.

    Ahmad said the union made the decision to complain to the president directly after Garuda’s aircrew and employees repeatedly asked for a meeting with its board of directors but were turned away each time.

    The union has been demanding that Garuda reduces the size of its board of directors from nine directors to six.

    However, when the carrier appointed a new management team they actually added three new directors to the board.

    “Such a waste,” Ahmad said.

    Ahmad also questioned the directors’ ability to end Garuda’s financial problems since none of them has any experience in the aviation industry. He did not name the directors.

    The carrier reported a $222 million net loss in the first nine months of last year, more than five times the $44 million it lost in the same period in 2016.

    Garuda Indonesia president director Pahala Mansury said in September the losses were due to higher fleet costs and increasing fuel expenses.

    The union also criticized massive delays of Garuda flights from Denpasar, Bali, on Dec. 2. The poorly handled incident affected both domestic and international flights.

    He said the delays were not caused by the Mount Agung eruption, but due to a scheduling mishap stemming from teething problems with its new Sabre online system adopted in August last year.

    Garuda’s Response

    Garuda Indonesia’s vice president and corporate secretary Hengki Heriandono said he appreciated the union’s effort to help solve the carrier’s problems.

    “All of our employees are committed and care about the company’s future. We will listen to all their demands and suggestions,” Hengki said.

    He said safety will always be the carrier’s main priority.

    According to him, the government can revamp Garuda’s board of directors and management at any time as long as it is done according to the law and good governance principles.

    Hengki said Garuda has already talked to aircraft manufacturers to delay deliveries of new planes to help the company reduce costs by 25 percent.

    The carrier will also maximize the use of its aircraft in profitable routes.

    Reuters reported the carrier expects to turn around its financial performance this year, targeting $4.9 billion in revenue, up from an estimated $4 billion last year.

    It also forecasts a net profit of $8.9 million in 2018.

    The company plans to issue $750 million in global bonds to refinance its debt, and a separate bond issuance totaling Rp 2 trillion ($160 million) to fund business and operational expenses.glo

  • US Gov’t Shutdown Unlikely to Impact Indonesian Economy

    US Gov’t Shutdown Unlikely to Impact Indonesian Economy

    The United States government shutdown will not have a significant impact on the Indonesian economy if it lasts for only a short time, because export markets rely on the private sector, a minister said on Monday (22/01).

    US senators were unable to reach an agreement on a bill to fund federal agencies through Feb. 16, which forced hundreds of thousands of employees in non-essential sectors to be on unpaid leave and more than a million people in essential sectors to work unpaid until a funding deal is renewed.

    Essential workers are those dealing with public safety and national security, such as the military and hospitals.

    “If it is only for the short term; it will not [impact Indonesia],” National Development Planning Minister Bambang Brodjonegoro said.

    Bambang added that in the short term, the shutdown will not disrupt Indonesia’s exports to the United States as they are mostly dealt with the private sector.

    Central Statistics Agency (BPS) data shows Indonesian exports to the United States accounted for 11.2 percent of the country’s total, amounting to $17.1 billion annually and dominated by a combination of commodities, such as rubber and shrimps; and non-high-tech manufacturing products, such as furniture, textiles and footwear.

    Mohammad Faisal, an economist at Jakarta-based research firm CORE Indonesia, predicts that the shutdown will unlikely last for more than a month, based on previous shutdowns.

    The United States has had 18 federal government shutdowns since 1976, with the longest having been for 21 days between December 1995 and January 1996.

    Mohammad said the last shutdown in 2013 during Barack Obama’s administration lasted for 16 days and did not have a significant impact on the global economy, including developing countries such as Indonesia.

    Getting Ready

    Bhima Yudhistira Adinegara, an economist at the Institute for Development of Economics and Finance (Indef), said the government must start preparing for risk mitigation as President Donald Trump’s term in office will only end in 2021.

    “This is Trump’s first year of arranging the government budget … if these keep repeating, Indonesia must have a way to mitigate the risk,” Bhima said.

    If the current shutdown lasts less than 20 days, Indonesia’s foreign exchange reserves of $130 billion are still sufficient to stabilize the rupiah exchange rate, according to the latest figures.

    However, Bhima said Indonesia has to increase its foreign exchange reserves as a “safety net” against external influences by promoting non-oil and gas exports and tourism.

    He added that Indonesia should decrease its dependence on the US market by accelerating trade agreements with nontraditional trading partners, such as Chile, Russia and countries in Eastern Europe and Africa, to diversify the country’s markets.

    For the time being, Bhima said the US dollar exchange rate will have a minimal impact on the rupiah over the next two weeks as it is still within the controlled range of Rp 13,350 to Rp 13,400.

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  • Telstra to invest in two HK-US cables

    Telstra to invest in two HK-US cables

    Australia’s Telstra has announced plans to invest in two new subsea cable systems connecting Hong Kong to the west coast of the US.

    The company will invest in a half fiber pair on the Hong Kong Americas (HKA) cable and the equivalent of 6TBps over the Pacific Light Cable Network (PLCN).

    The HKA cable is expected to be ready for service in 2020 and the PLCN to be complete in 2019.

    Once complete, the two cables will be able to act as more direct routes between the US and Asia than Telstra’s part-owned Asia-America Gateway (AAG) cable system, helping to reduce latency and meet increasing demand for connectivity between Greater China, ASEAN and the US.

    “As economic growth continues in China and South East Asia, so too does the demand for data. Together with the current AAG cable on which Telstra carries the most traffic today, these two investments will provide us with increased capacity across the important Hong Kong to US route, one of the fastest growing routes in the world for capacity demand,” Telstra group managing director of global services and international David Burns said.

    “Our investment in capacity on PLCN and HKA will also provide our customers with greater resiliency due to bypassing areas prone to natural disasters and offering two direct, alternative paths to the AAG cable which connects South East Asia to the US west coast via Hong Kong, Guam and Hawaii.”

    Meanwhile fellow Australian operator Vocus Communications has selected the ST Telemedia Global Data Centres (STT GDC) STT Tai Seng 1 data center to act as the point of presence in Singapore for its planned Australia Singapore Cable (ASC) subsea cable system.

    The 4,600km ASC will link Singapore with Perth in Western Australia via Indonesia. It is expected to be completed in the third quarter.

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  • Vincent Yong Takes The Helm at DHL Global Forwarding Indonesia

    Vincent Yong Takes The Helm at DHL Global Forwarding Indonesia

    Southeast Asia logistics veteran Vincent Yong is the new Managing Director of Indonesia for DHL Global Forwarding. In a statement issued yesterday (24 July), DHL said that Yong was “no stranger to complicated situations”.

    The company explained: “As Chief Operating Officer of DHL Global Forwarding Thailand, Yong steered his team through political upheaval in 2006, catastrophic floods in 2011 and numerous changes to the country’s transport infrastructure – significantly expanding the business and consolidating operations in a 100,000-sqft Multimodal Hub at Suvarnabhumi Airport in the process.”

    Yong added: “My time in Thailand saw us go from one ‘adventure’ to another – which helped me develop a practical understanding of challenges; from air and ocean logistics operations to crisis management, security, and overall macroeconomic current affairs – and will prove particularly useful in managing our dynamic business operations in Indonesia.

    “In addition, my most recent role as Regional Head of Technology leads to my strong belief that technology will be a powerful proponent in propelling Indonesia to the next level.”

    “As Indonesia continues to invest in technology and infrastructure — like its Mass Rapid Transit network and expanded airport terminals — we expect the costs of trade and doing business to further ease. Moreover, as the world’s fourth most populous country, Indonesia still holds vast potential for growth in domestic consumption despite slowing growth in imports and exports alike. I’m looking forward to strengthening DHL’s competitive advantage in this fast-evolving market.”

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  • Bitcoin Use Under Scrutiny in Indonesia

    Bitcoin Use Under Scrutiny in Indonesia

    Indonesian authorities are investigating the use of bitcoin in the holiday island of Bali, amid warnings by the central bank over the risks posed by virtual currencies, an official said.

    The probe started after the central bank on Dec. 7 issued a regulation banning the use of cryptocurrencies in payment systems, said Causa Iman Karana, head of Bank Indonesia’s representative office in Bali.

    “We found out from some postings on social media that Bali appeared to have become a haven for bitcoin transactions,” said Causa, adding that central bank officials and police went undercover at the end of 2017 to investigate scores of businesses in Bali advertising online that they offered bitcoin payment services.

    The team found two cafes still using bitcoin as a means of payment, but 44 businesses including car rental outlets, hotels, travel companies and jewelry stores, prevgiously offering the service, had now stopped, he said.

    A Bitcoin sign is seen in Kuta on the resort island of Bali, Indonesia January 18, 2018. Picture taken January 18, 2018. REUTERS/Nyimas Laula

    One of the cafes used bitcoin only for transactions of more than Rp 243,000 ($18), or about 0.001 bitcoin. A single transaction took about one and a half hours to be processed and included a fee of Rp 123,000 so this had discouraged its wider use for payments, Causa said.

    The official declined to name the businesses because he was still waiting for further instructions from Bank Indonesia in Jakarta.

    “The next step is we will ban them as mandated by the law. We ask them not to use it anymore. Along with the National Police’s Criminal Investigation Unit (Bareskrim), we will enforce the rule that all transactions in Indonesia must use rupiah.”

    Some locals in Bali said bitcoin was being used mainly by foreigners on the island, which is Indonesia’s tourism hub and has a large expatriate community.

    Bank Indonesia has called ownership of virtual currencies high risk and prone to speculation, because no authority takes responsibility or officially administers them and because there is no underlying asset to be the basis for the price.

    Virtual currencies could also be used in money laundering and terrorism funding, and could have an impact on the stability of the financial system and causes losses for society, it has said.

    While trading has not be regulated so far, the central bank has said it was looking into the issue.

    Regulators around the world have been grappling with how to address risks posed by cryptocurrencies, as bitcoin, the world’s most popular virtual currency, soared more than 1,700 percent last year.

    Prices have plummeted since South Korea said last week it may ban domestic cryptocurrency exchanges.

    Bitcoin.co.id, an Indonesian online cryptocurrency exchange, said on its website that bitcoin was trading at Rp 162.70 million per unit after losing around a quarter of it value this week.

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  • Indonesian Gov’t to Lower Income Tax for Conventional, Online SMEs

    Indonesian Gov’t to Lower Income Tax for Conventional, Online SMEs

    Indonesia will cut final income tax on small and medium enterprises by half and also impose taxes on e-commerce businesses to even the playing field between traditional brick and mortar and digital businesses, Finance Minister Sri Mulyani Indrawati said on Friday last week (19/01).

    Under a current regulation, businesses earning less than Rp 4.8 billion ($360,600) a year are exempted from paying income tax and value added tax. They only have to pay a final tax of 1 percent of their total sales. The current income tax rate stands at 25 percent of profit, while the VAT is at 10 percent of sales.

    “We are currently formulating [the rules] with the players […] The basic principle is to have the playing of field on the same level,” Sri Mulyani told reporters.

    The minister said the government is planning to lower the income tax for small and medium enterprises (SME) to 0.5 percent of their sales. SMEs or individuals selling exclusively on e-commerce marketplaces will also be required to pay the tax.

    Sri Mulyani said the sales threshold will also be lowered.

    In the e-commerce roadmap rolled out in 2016 as part of the 14th economic policy reform package, the government expects up to $130 billion in e-commerce transactions in 2020.

    “The majority of supplier merchants [for the e-commerce business] are SMEs. We are planning to revise the government regulation to lower the level,” Sri Mulyani said, adding that the regulation will not burden businesses.

    The government has also included an income tax reduction for SMEs to be implemented in this year’s state budget.

    Sri Mulyani said the process of collecting the tax has not been decided yet.

    The Ministry of Finance is currently formulating details on future tax regulations on e-commerce businesses. The government aims to issue the regulation by mid-year, as it is still coordinating with other related ministries and agencies.

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  • Google, Temasek Coming in as New Investors in Indonesia’s Go-Jek

    Google, Temasek Coming in as New Investors in Indonesia’s Go-Jek

    Google, Singapore state investor Temasek Holdings and Chinese online platform Meituan-Dianping are investing in a fundraising round of Indonesian ride-hailing startup Go-Jek, sources familiar with the matter said.

    Go-Jek’s existing investors, such as global private equity firms KKR & Co and Warburg Pincus, are also participating in the funding round, which is raising about $1.2 billion in total, the sources said.

    They said the funding round opened last year and is expected to close in a few weeks.

    The funding by prominent investors including Google gives Go-Jek greater firepower to tackle competition at home from Grab and Uber Technologies, which are viewing Indonesia, Southeast Asia’s most populous country, as a large potential market.

    “As a strategic investor, Google can add a lot to Go-Jek’s business,” said one source.

    It was not immediately clear how much the investors are pumping in individually.

    Google, KKR, Warburg and Temasek declined to comment. Meituan-Dianping and Go-Jek did not immediately respond to requests for comment. The people declined to be identified as they were not authorized to speak to the media.

    Go-Jek, which began as a ride-hailing app for motorcycle taxis, operates mainly in Indonesia but is developing a food delivery business. Its mobile payment business, Go-Pay, is also growing rapidly.

    Reuters reported last year that JD.com was investing about $100 million in Go-Jek. This followed an investment by Chinese social media and online entertainment firm Tencent Holdings, which is also an investor in JD.com.

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  • Pertamina Needs Up to $70m to Support National Single-Price Fuel Scheme

    Pertamina Needs Up to $70m to Support National Single-Price Fuel Scheme

    State-owned energy company Pertamina needs to spend around Rp 800 billion to Rp 1 trillion ($70 million) this year to support the government’s single-price fuel scheme in 54 of the country’s most remote areas, a minister said on Monday (08/01).

    The administration of President Joko “Jokowi” Widodo initiated the single-price fuel scheme in October 2016 to provide cheap, subsidized fuel in remote areas to help spur growth.

    According to Energy and Mineral Resources Minister Ignasius Jonan, Pertamina needs as much as Rp 1 trillion to help fund logistical, operational and development costs to distribute the fuel in the country’s hard-to-reach districts.

    Pertamina has been tasked with developing a total of 150 fuel distribution facilities by the end of 2019, estimated to cost about Rp 3.8 trillion in total. The government targets to offer the same fuel prices across the country at Rp 5,150 per cubic meter for subsidized diesel and Rp 6,450 per cubic meter for low octane “Premium” gasoline.

    “[Subsidized] fuel products are very important, especially in the frontier, outermost and most remote areas, in which the disparity [with big cities] is pretty high. This is a three-year program as [reaching] the areas is not easy,” Jonan said in a press conference on Monday.

    Since former President Susilo Bambang Yudhoyono’s administration, the government has continuously liberalized fuel distribution businesses to the private sector from, previously, Pertamina.

    Last year, the state-controlled company, along with privately owned chemical distribution company AKR Corporindo, built a total of 57 fuel distribution facilities: Pertamina developed 54 of those facilities. In total, the new facilities have a combined distribution capacity of 48,000 kiloliters per year.

    However, last year, distributors from Pertamina and AKR only distributed 11,000 kiloliters of Premium gasoline and 6,000 kl of subsidized diesel.

    For the 2018-2022 period, the government has appointed Pertamina and AKR to procure subsidized fuel products in the country.

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  • The Golden Gaytime skips Indonesia market

    The Golden Gaytime skips Indonesia market

    Under social-media fire in Indonesia over its Golden Gaytime ice-cream brand, Unilever has issued a statement to say the brand is not even sold in the country.

    Protesters say the name and design promote LGBT rights, a big issue in Indonesia. The outrage follows social-media posts featuring a Rainbow Gaytime ice-cream bar that is not an official product but a tribute concept created by an Australian fan for Sydney’s Mardi Gras festival. The posts went viral, followed by ugly comments and calls to boycott Unilever subsidiary Wall’s.

    Unilever Indonesia clarified that the ice cream was not a product of Wall’s Indonesia. It said it has been in Indonesia for 84 years and respected and upheld the cultural and religious values and norms of the country. It also said Wall’s brand was halal certified in Indonesia, and had won an award for its efforts in this area.

    Golden Gaytime first released in Australia in 1959, keeping its name despite the change in connotation of the word “gay”. In recent years, as with the rainbow edition, it has embraced the modern use of the word.

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  • Indonesian Gov’t to Modernize Thousands of Traditional Markets

    Indonesian Gov’t to Modernize Thousands of Traditional Markets

    Indonesia will refurbish 1,592 traditional markets across the country this year as part of President Joko “Jokowi” Widodo’s nine-pronged and domestic-focused Nawacita development program, its Trade Minister Enggartiasto Lukita said on Thursday (04/01).

    A total of Rp 5.5 trillion ($409 million) will be made available to modernize 267 markets through co-administration funding (TP), 1,275 markets through special allocation funding (DAK) and 50 markets under the management of the Cooperatives and Small Businesses Ministry.

    Enggartiasto said the government faces many challenges in trying to modernize traditional markets, ranging from budget limitations to protests from market sellers.

    “It’s not easy to rebuild or move [traditional] markets. Moving an old market always raises problems… even if we only move it 500 meters away from its original site. The sellers never want to move,” Enggartiasto told reporters during a press conference in Jakarta.

    The ministry’s director general of national export development, Tjahya Widayanti, warned regional administrations to treat sellers fairly when they refurbish a market.

    “Don’t abandon the old merchants. [City administrations] should reserve stalls at the new market for them, not just for new sellers coming in,” Tjahya said.

    The government will focus on refurbishing traditional markets in the suburbs this year — mostly markets that are open at least twice a week and comprising at least 50 sellers in a 500-square meter area.

    It will also refurbish some weekly markets with at least 500 sellers in a 500-square meter area.

    The government has already refurbished 2,715 traditional markets since 2015 till last year, out of an eventual target of 5,000 markets by 2019.

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  • AirAsia to close Surakarta-Kuala Lumpur route

    Low-cost carrier AirAsia is set to close on Jan. 16 its route from Surakarta in Central Java to Kuala Lumpur.

    AirAsia Berhad commercial head Spencer Lee told Antara news agency that the closure was due to commercial reasons.

    The airline is currently spreading the news among passengers through email and text messages. Those affected by the closure will receive a full refund or be allowed to change their flight by taking off from Semarang, Central Java, or Yogyakarta.

    Despite the move, Lee assured the carrier was still committed to adding more flights to Indonesia this year.

    Meanwhile, Purwanto, operation and service department manager of state-owned airport operator PT Angkasa Pura I at Adi Soemarmo International Airport in Central Java, said the operator had heard about the news, but has yet to receive an official confirmation from the carrier.

    “Based on our data, the average number of passengers for the route is relatively high, up to 70 percent capacity,” Purwanto said.

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  • AirAsia’s Indonesian arm becomes part of AirAsia Indonesia

    AirAsia’s Indonesian arm becomes part of AirAsia Indonesia

    PT Indonesia AirAsia (IAA), the Indonesian arm of Malaysia-based low-cost carrier AirAsia Bhd., has officially become part of publicly listed company PT AirAsia Indonesia (AAI) following the completion of a recent acquisition.

    The former acquired a 57.25 percent shareholding in the latter on Friday.

    Jakarta-listed PT Rimau Multi Pratama (RMPP) was renamed AAI after the conclusion of its rights issue and divestment of its coal trading and transportation business on the same day.

    In the rights issue, IAA’s shareholders, namely PT Fersindo Nusaperkasa (FN) and AirAsia Investment Ltd (AAIL), acted as standby buyers of the new stocks issued by AAI.

    Overall, the transactions have allowed IAA to control the majority stake in AAI, while FN and AAIL hold the remaining 42.75 percent.

    AirAsia Group CEO Tony Fernandes said its move in Indonesia followed the listing of AirAsia business entities in the stock markets in Malaysia and Thailand.

    “The corporate deal will bring us closer to the One AirAsia vision with which we plan to list all of our business units in ASEAN on the stock market,” said Fernandes in a press statement on Friday.

    AirAsia said in August that it opted for a backdoor listing through publicly listed firm RMPP to expand its business in Indonesia. The decision was made to avoid lengthy and costly procedures that normally result in an initial public offering (IPO).

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  • Bukalapak teams up with TIKI to ease delivery

    Bukalapak teams up with TIKI to ease delivery

    E-commerce platform Bukalapak kicked off on Wednesday the expansion of its partnership with courier service and logistics company TIKI to facilitate small and medium enterprises (SMEs) in selling their products.

    The new partnership will enable vendors to accelerate product delivery.

    For instance, TIKI provides a “booking code” feature in which vendors can fill in the data of senders and receivers online before sending the packages. When vendors arrive at a TIKI branch, they do not need to wait for TIKI employees to fill in the information anymore.

    “There will be [system] integration between Bukalapak and TIKI. The new features will be launched soon,” Bukalapak co-founder and chief financial officer Muhammad Fajrin Rasyid told at its headquarters in Kemang, South Jakarta.

    Another new feature offered to vendors is pick-up service that allows TIKI couriers to pick up goods from the vendors’ locations. Bukalapak has more than 1.7 million vendors with more than 38 million products offered on its online marketplace. About 500,000 vendors at Bukalapak use TIKI’s services.

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