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Tag: Indonesia

  • AirAsia cancels 32 Bali and Lombok flights

    AirAsia cancels 32 Bali and Lombok flights

    Low-cost carrier AirAsia has cancelled 32 flights and rescheduled two others from and to Bali and Lombok following the volcanic activity at Mount Agung in Bali.

    In a statement, AirAsia said affected passengers would be notified of their flight status and the options available to them via their registered e-mail addresses.

    It said passengers whose flights were cancelled could change to a new travel time on the same route within 30 days from the original flight without additional costs and subject to seat availability. They can also retain the value of their fare in a credit account for future travel.

    “The online credit account has to be redeemed within 90 days from the date of issuance,” it said.

    The airline said passengers are advised to visit www.airasia.com and AirAsia’s social media pages and also to check their flight status through the “Manage My Booking” feature on AirAsia’s website.

    AirAsia said it was in contact with the autho­rities and would continually conduct risk assessments to ensure the safety of its operations.

    “AirAsia will provide updates on the latest developments,” it said, advising passen­gers requiring assistance to contact the airline’s customer support team.

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  • Non-retail business dents Metro Holdings

    Non-retail business dents Metro Holdings

    Despite a rugged first half, property development and investment group Metro Holdings has still managed positive results and has formed strategic partnerships in Indonesia.

    It had a net profit after tax of S$4.6 million (US$3.3 million) despite a net loss after tax of $13.6 million as the result of events not related to its retail developments.

    Meanwhile, it is moving ahead with a IDR1.99 trillion (US$147.2 million) mixed project in Bekasi, Jakarta. For the retail component it is partnering with Trans Corp, while Lee Kim Tah Group will handle the residential side.

    Trans Corp will develop its trademark Transmart mall with a gross floor area of about 30,485sqm, including department stores, supermarkets and cinemas, as well as a theme park in conjunction with Kidcity and Snow Town.

    Metro chairman Winston Choo says the group has worked with Trans Corp since it took an initial stake in Metro Indonesia in 2008 to run Metro’s retail department store business.

    Metro’s retail arm runs three Metro department stores in Singapore and another nine in Indonesia.

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  • Decathlon Indonesia opens nation’s largest sports store

    Decathlon Indonesia opens nation’s largest sports store

    French sports equipment retailer Decathlon Indonesia has opened its first store, along Alam Sutera Boulevard in Tangerang City.

    Offering 2000sqm of retail space and 500sqm of community playground, it is the nation’s largest sports store. Before setting up the store, Decathlon Indonesia opened an e-commerce site.

    “In the next 10 years the local content in the store is planned to reach 50 per cent,” says Decathlon Indonesia CEO Jeremie Ruppert. “We believe the advancement of Indonesian industry can help us to localise Decathlon products with good quality.”

    He says the country’s landscapes, mountains and ocean access plus a love of sports activities ensure a potential market for the French brand.

    Founded in 1976, Decathlon has more than 1200 stores in more than 35 countries.

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  • Dairy Farm sales stagnate

    Dairy Farm sales stagnate

    Dairy Farm sales were described as “flat” in the third quarter to September 30.

    The Hong Kong-headquartered company said improved performances in health and beauty, Ikea, restaurants and Yonghui were offset by lower sales in the food and grocery division.

    “The lower food division sales, together with new store pre-opening costs in home furnishings, (Ikea) led to underlying profits being marginally below the same period in the prior year,” the company said in a statement issued in London, where it has a secondary listing. “Similar trading conditions are expected to continue for the remainder of the year.”

    Dairy Farm said the weakness seen in food and grocery sales was principally driven by difficult trading for the hypermarket and supermarket operations in Southeast Asia, where it operates Giant hypermarkets and Cold Storage supermarkets. It says reviews of “a number of the businesses” are being undertaken.

    The results from greater China (including its Hong Kong Wellcome supermarkets) showed improvement over the same period last year. Convenience store operations (including 7-Eleven stores in Hong Kong and Singapore) produced improved sales and profitability.

    Yonghui reported a strong 20 per cent  growth in revenue and 131 per cent increase in profit in the quarter.

    Improved sales in the health and beauty division (Manning’s, Guardian and Rose Pharmacy) were driven principally by a strong performance in Hong Kong and Macau. Home Furnishings (Dairy Farm has the Ikea franchises in Hong Kong and Taiwan) traded well, although profitability was reduced due to pre-opening expenses for the new store in Hong Kong.

    Maxim’s (which also includes Starbucks operations in Hong Kong, Vietnam and Cambodia) had a seasonally strong quarter in both sales and profit, benefiting from record mooncake sales during the Mid-Autumn Festival period. In September, Maxim’s acquired the existing business and exclusive rights to operate and develop Starbucks franchise stores in Singapore.

    In August, the group completed the acquisition of the remaining 34 per cent interest in Rustan’s in the Philippines from its joint venture partner.

  • Indonesia Posts Trade Surplus in October, Third Month in a Row

    Indonesia Posts Trade Surplus in October, Third Month in a Row

    Indonesia posted a trade surplus for a third straight month in October, the Central Statistics Agency said on Wednesday (15/11), as improved demand for commodities underpinned exports from Southeast Asia’s biggest economy.

    The trade surplus in October was $0.9 billion, the agency said. The surplus was supported by larger commodities shipments such as coal and metal, as well as manufactured goods.

    Demand from China continued to support Indonesian exports, the agency said.

    The surplus, however, shrunk from September’s surplus of $1.76 billion. Analysts polled by Reuters had expected a $1.63 billion surplus for the month.

    Exports rose 18.39 percent in October on an annual basis, compared with a 16.59 percent increase forecast in the poll.

    October exports were worth $15.09 billion.

    Meanwhile, imports jumped by 23.33 percent to $14.19 billion, picking up pace from a 13.13 percent rise in the previous month and compared to a forecast of 16 percent growth.

    The rise in imports was due to purchases of raw materials for industrial use.

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  • Parkson Retail Asia 1Q Net Loss Widens On Year As Sales Decline

    Parkson Retail Asia 1Q Net Loss Widens On Year As Sales Decline

    Parkson Retail Asia has had a lacklustre start to its fiscal year, its unaudited first-quarter figures show.

    Gross sales proceeds fell by 8.3 per cent year on year to S$202.4 million (US$148.9 million) for the quarter.

    Total merchandise sales generated $198.1 million, with concessionaire sales contributing 74.2 per cent, down from 77.9 per cent for the same period last year, and direct sales contributing the balance of 25.8 per cent.

    Attributable net losses to the owners of the company for the period, to September 30, reached $12.9 million. The group also had net current liabilities of $67.9 million at the end of September, the result of investments in new stores and ventures yet to reach optimal level. This was an increase of 22.5 per cent from its June 30 position.

    Same-store sales in Indonesia and Malaysia were impacted during the quarter by the absence of Lebaran/Hari Raya festival buying following a shift in the calendar.

    Malaysia remained challenging, with the country’s consumer sentiment index, at 77.1, continuing to register below the 100-point confidence threshold for the 13th consecutive quarter.

    Consumer spending appears to have also softened in Indonesia, where retail spending has been declining, while Parkson’s same-store sales in Vietnam dropped by 7.8 per cent. This is attributed to the “fading of novelty effects” arising from the entry into the market of such international players as H&M, Takashimaya and Zara.

    “Competition in Vietnam’s retail market remained intense,” says Parkson.

    In Myanmar, the group closed its store at FMI Centre, Yangon, in January with a new store at Junction Square in the city opening two months later.

    Parkson says its performance in the next quarter is expected to benefit from year-end school holidays and festive buying. However, it expects challenges with fragile consumer sentiment and stiff competition.

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  • Matahari Wins Bronze in 2017 Retail Asia Pacific Top 500 Award

    Matahari Wins Bronze in 2017 Retail Asia Pacific Top 500 Award

    Matahari Department Store, Indonesia’s largest department store retailer of fashion, beauty and home products, received bronze medals in the 2017 Retail Asia Pacific Top 500 Award in the categories of top department store retailers and top three retailers in Indonesia, in an event held at Westin Hotel Kuala Lumpur on Tuesday (24/10).

    According to an official statement we received on Friday, the awards were presented to outstanding retailers from major countries across the Asia Pacific, including Australia, Hong Kong, Indonesia, Malaysia, the Philippines, South Korea, Thailand, China, India, Japan, New Zealand, Singapore, Taiwan and Vietnam.

    Retail Asia, auditing firm KPMG and Euromonitor International ranked retailers across 14 countries according to performance and categorized by outlet types. Matahari is included in the department store category.

    Matahari won the award for its ability to adapt to changing habits of customer who rely more on online shopping in the digital era.

    The retailer recently announced a partnership with Walt Disney Company  to increase the number of visitors coming to its chain of stores.

    Matahari currently operates 155 outlets across the country, and plans to open three new stores by the end of the year.

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  • Giordano post a “quite okay” result

    Giordano post a “quite okay” result

    Third-quarter sales for apparel retailer Giordano International have been edging ahead in most markets, an exception being South Korea, a 48.5 per cent JV with an independent management team.

    While e-commerce sales jumped by 17.6 per cent in Mainland China, overall sales growth reached only 2.6 per cent, with a decrease of 2.5 per cent in directly run stores. The company closed 32 non-performing outlets.

    Comparative own-store sales grew by 8.4 per cent, with an 0.5-point decline in gross margin because of a change in channel mix as the contribution from the lower-margin e-business.

    In Hong Kong and Macau, sales for the three months to the end of September grew by 3.2 per cent.

    Gross margin fell 1.6 points as a result of sales promotions to counter an unusually hot and rainy summer and late autumn. These promotions pushed up sales volume by 13.8 per cent while reducing the average selling price by 9.2 per cent.

    Comparative-store gross profit rebounded in Taiwan, where sales and gross margin rose by 2.9 per cent and 1.1 points respectively. Giordano says the improvements are sustainable for the rest of the year. Gross margin also benefited from lower product costs on a strong local currency.

    In the rest of Asia Pacific sales increased by 5.4 per cent at constant exchange rates. The acquisition of Vietnam business in July contributed to 5.1 per cent of sales in the region.

    Unusually strong sales in Thailand last year resulted in an unfavorable year-on-year comparison for the quarter.

    Ramadan effect

    Indonesia sales rose by 3.5 per cent as a result of shop expansion. While comp-store sales fell by 4.1 per cent and gross profit eased 1.8 per cent as a result of the different timing of Ramadan, comp-store sales from June to September this year increased by 9.7 per cent against the same period last year.

    Early Ramadan also affected sales in Malaysia, which grew by 4.3 per cent. Comp-store sales rose by 2.6 per cent while gross profit eased 1.4 per cent. Comp-store sales for June to September strengthened 20.4 per cent compared with the same four-month period last year.

    Both comp-store sales and gross profit dropped in Thailand, by 4.9 and 6.3 per cent respectively, against an unusually high base in the same quarter last year.

    Sales fell 3.6 per cent in South Korea while gross margin improved by 0.7 points. The decline was mainly because of summer clearance sales and unusually hot weather in September hitting fall/winter merchandise sales.

    Overall group sales rose by 3.6 per cent to HK$1.2 billion (US$153.8 million). Group gross profit increased by 3 per cent on improved sales, partially offset by a 0.3-point decline in gross margin.

    Giordano attributes this partly to the change in channel mix and selective promotional activities. Group comparable-store sales and comparable-store gross profit for the quarter grew by 2.3 and 1.5 per cent respectively.

    At the end of September, the group’s distribution network comprised 2370 stores in more than 30 countries, about half of these being standalone stores. Most stores were in Greater China, South Korea and Southeast Asia.

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  • Vietnam stock hits fresh near 10 years high

    Vietnam stock hits fresh near 10 years high

    Vietnam shares gained 0.9 percent, with real estate developer Vingroup Joint Stock Company climbing 4.7 percent to an all-time peak.

    Global equities were largely muted as concerns of a delay in U.S. tax reform proposal and apprehension over Saudi Arabia’s rising tensions with Iran soured investor sentiment.

    “Markets seem unsure which way to go next – equity markets are largely becalmed…,” ING analysts said in a note.

    Most Southeast Asian stock markets were muted today, with Indonesia slipping from a record close, as investors took a breather in the absence of market-moving data.

    Indonesian stocks slumped 0.3 percent from a record close, dragged by the telecommunications sector, with Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, down 1.7 percent.

    Singapore index was largely flat, with real estate giant CapitaLand Ltd down 1.1 percent and Keppel Corp Ltd giving up 0.9 percent.

    Philippine stocks edged 0.3 percent lower, with industrial stocks accounting for majority of the losses, as SM Investments Corp slumped 2.8 percent, and food processor JG Summit HoldingS dropped 1.2 percent.

    Real estate stock Ayala Land was the biggest drag on the index, declining 2 percent. Manila-based RCBC Securities analyst Fio De Jesus attributed the stock’s move to profit-taking after it rose 1.3 percent in its previous session on strong nine-month earnings.

    Thai shares pared early gains in the session to trade down 0.1 percent ahead of the Bank of Thailand’s rate decision due later in the day. The central bank is expected to leave its benchmark interest rate near record lows again, with the current level seen supporting the country’s economic recovery while inflation stays benign.

  • Indonesia threatens to block WhatsApp messaging over obscene content

    Indonesia threatens to block WhatsApp messaging over obscene content

    Indonesian government gave Whatsapp a two-day notice to block obscene GIF images.  Indonesia on Monday vowed to block Facebook Inc’s WhatsApp Messenger within 48 hours if the service did not ensure that obscene Graphics Interchange Format (GIF) images were removed.

    WhatsApp, which is widely used in Indonesia, the world’s most populous Muslim-majority nation, said message encryption prevented it from monitoring the animated graphics files, known as GIFs, that are available on the app through third-party services.

    WhatsApp said in a statement on Monday that it asked the government instead to work with those providers, which integrate their technology into WhatsApp to allow users to enter keywords to search for GIFs.

    Indonesia’s Internet is partly censored, with access blocked to websites providing criticism of Islam, dating services and sex education, according to research published in May by Tor Project, a nonprofit maker of Web browsing tools.

    Semuel Pangerapan, a director general at Indonesia’s communications and informatics ministry, said WhatsApp would be blocked within 48 hours unless the images supplied by third parties were taken off the service.

    “Yes, true. They have to follow the rules of the host,” Pangerapan said of the proposed block.

    The ministry had sent three letters to WhatsApp over the issue, he said.

    “They have responded, but asked us to speak directly to the third party. The GIFs appeared in their apps. Why do we have to be the one speaking to the third party? They are supposed to be the ones managing it,” said Pangerapan.

    Tenor Inc, one of the third parties, said it was attempting to release a “fix.” Giphy Inc, another provider, did not respond to requests to comment.

    Jennifer Kutz, a Tenor spokesperson, said in a statement that the company is working “to address the content issues raised by the Indonesian government within the next 48 hours.”

    Kutz said the company “regularly” works with “local entities to make sure our content reflects the cultural mores and legal requirements.”

    She declined to identify the proposed fix or existing regions with content restrictions. Tenor allows integrators of its service to block potentially objectionable image results or a defined list of search terms.

    “In the case of WhatsApp, we’re taking on this responsibility,” Kutz said in an email.

    Giphy, a New York City company that also works with WhatsApp, offers its partners a feature for filtering inappropriate images.

    Indonesia’s warning did not appear to target Gboard, a keyboard app developed by Google that provides comparable GIF search results but must be installed separately from WhatsApp on most devices.

    Indonesia had 69 million monthly active Facebook users as of the first quarter of 2014, ranking the country fourth globally after the United States, India and Brazil, company data showed.

    Some reaction on Indonesian social media to the threatened block was sceptical. “While you’re at it, why don’t you block Twitter too, (and) if necessary all browsers in the Playstore, because it’s way easier to search for porn there than on WhatsApp,” wrote one Twitter user, with the handle @jnessy.

    The country’s regulators have reached settlements with several technology companies after threatening to shut them down. In August, Indonesia announced it would block Giphy’s website for showing gambling-related ads. Access soon was restored after it agreed to cooperate with regulators.

    Bans similarly were rescinded in recent years on social media websites such as Vimeo and Tumblr and the chat app Telegram, which regulators had said was “full of radicals and terrorist propaganda.”

    The Indonesian Consumers Foundation (YLKI) had urged the communications ministry to block pornographic GIF images accessible via emoticons, complaining that children could easily reach them, according to news website kompas.com. Terms of use for WhatsApp, Tenor and Giphy say users must be 13 years old.

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  • Indonesia’s Blockchain Scene Heats Up

    Indonesia’s Blockchain Scene Heats Up

    Bali’s first-ever blockchain conference happened in the grand ballroom of The Trans Resort Bali, a five-star resort hotel a short drive from Bali’s famous tourist areas of Kuta and Seminyak. It was organized by Black Arrow Conferences, which have also organized successful blockchain conferences in Mumbai, India and Jakarta, Indonesia — together with a local organizing team comprised of Bali-based cryptocurrency afficionados.

    The event was surprisingly large for a small island. Conference sponsorship slots and attendee tickets were completely sold out, filling the room to capacity with 315 registered attendees and 33 partners, supporters and sponsoring organizations and companies from around the world.

    A mix of Indonesian and international companies were in attendance: Bitcoin Indonesia, PundiX, BlockchainZoo, Coindo, Blocktech, BBW, Cybermiles, Genesis Mining, Decent, Emurgo, Cointed, Waves, MiCai, Eximchain, Coinscore and Datum as well as representatives from the Indonesia and Bali Chamber of Commerce and Industry and the National Police Anti-Terrorism Unit Densus 88.

    Bali a Blockchain, Cryptocurrency and Historic

    As we reported here at Bitsonline previously, Indonesia has a thriving trading community and blockchain startup scene.

    Bali is a popular place for blockchain companies looking for a place to temporarily relocate for some focus time on their projects, while also enjoying the lush beauty in the hills of Bali near the town of Ubud. Companies like Consensys, Changetip, Satoshipay and personalities well-known to many in the community — such as Joel Dietz, Toni Lane Casserly and Andreas Antonopoulos — have all spent quality time here.

    Ubud is also a favorite of Sir Richard Branson, who once toyed with the idea of buying a villa not far from town. In decades past, Charlie Chaplin, Buckminster Fuller and others have come to rest and recover, and to test new ideas that they would bring back to the world.

    Blockchain Companies Work Together to Strengthen the Industry in Indonesia

    Bitcoin Indonesia, the country’s largest exchange, boasts 550,000 registered members, and is developing an international focus. Its representatives meet with regulators often, in order to keep abreast of changing opinions within the bank, which have the effect of being treated as law.

    Just last week, Bitsonline reported that the Bank of Indonesia is forbidding payments platform providers from using cryptocurrency. However any service which converts currencies from bitcoin to Indonesian rupiah — for the purpose of completing a transaction — is exactly the same thing as a purchase with a foreign credit card in Indonesia.

    This resulted in Bitcoin Indonesia closing its popular cryptocurrency payment platforms TokoBitcoin.com and Bitbayar.com.

    Companies Already Building Legal Workarounds

    However, companies are already developing legal workarounds (don’t you just love blockchain?). PundiX CEO Zac Cheah demonstrated cryptocurrency exchange POS devices which complete a bitcoin conversion — which is legal — before the customer makes and settles payment in Indonesian Rupiah.

    The heads of the Indonesian and Bali Chambers of Commerce and Industry attended, and showed their support in working with blockchain companies in Indonesia to find a regulatory solution that would allow the industry to continue to grow.

    A representative from the Densus 88 Special Forces Anti-Terrorism Unit in charge of ending terrorist financing, presented the American version of anti-money laundering and anti-terrorist financing regulations. However he admitted there was only one known case of terrorism financing using cryptocurrencies that he was aware of — without going into details.

    BlockBali Conference Will Become an Annual Event

    Bitsonline interviewed speaker Roberto Capodieci, CEO of Blockchain Zoo — which is about to open a Blockchain Center in the town of Ubud. He told us:

    “Crypto in paradise! The god’s island of Bali, home to thousands of digital nomads, and my home since 2004, is indeed the right place to hold this kind of conference. Not only is there already a large audience on the island, but it makes a great reason for international experts to participate and extend their stay for a day or two and enjoy a short tropical holiday! Furthermore, BlockBali was organized in an excellent manner, had several key people from the industry to present, and a variety of topics to keep the audience constantly attentive and interested. I really look forward to more conferences like this one.”

    Sarfraz Patel, CEO of Blackarrow Conferences, was similarly optimistic for a future conference:

    “The success of BlockBali has been outstanding. A great turnout of 300+ people from 31 countries. This being our second conference in Indonesia, we have seen a 50 percent growth in attendance and we can clearly see the Indonesian community rising up to blockchain and cryptocurrency. This definitely paves the way for much bigger and better conferences in the future.”

     

    credits: Bitsonline

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  • Lazada Online Revolution offering 210 million items

    Lazada Online Revolution offering 210 million items

    In its sixth year, the Lazada Online Revolution mega-sale will be the biggest yet when it takes off on November 11 across six countries – Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

    Themed “Shop the Universe”, the sale will offer 210 million products, up sevenfold from last year, and has expanded its product categories to include fashion, luxury cosmetics, groceries, pet supplies and digital goods such as e-vouchers and prepaid mobile-phone top-ups. International brands include Huawei, Laneige, Levi’s, Mac, Ray-Ban, Shiseido and Triumph.

    There will be about 26 million deals offering discounts of up to 90 per cent, including items from the Taobao Collection, which offers kitchenware, furnishings, fashion apparel and accessories.

    Shoppers in Southeast Asia ordered about two million items within the first 24 hours of last year’s Online Revolution 2016. Among the top sellers were VR glasses, smartphones, shower gels and mascaras.

    As well as its own 130 delivery centres across the six countries, Lazada will work with more than 80 delivery companies to handle demand during the sale.

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  • Telekom Malaysia signs backhaul deal with edotco

    Telekom Malaysia signs backhaul deal with edotco

    Telekom Malaysia has entered an agreement with regional infrastructure services company edotco aimed at providing backhaul services for Malaysian mobile operators’ LTE deployments.

    Under the partnership, Telekom Malayia will provide its next-generation backhaul (NGBH) services for connectivity between operators’ cell sites and their core network at edotco’s ground-based tower sites in selected areas.

    The two companies will also explore opportunities to provide common infrastructure via smart centralized radio access network (smart CRAN) services to allow operators to expand their coverage footprints.

    Malaysia-based edotco provides end-to-end tower services ranging from tower leasing, co-location, build-to-suit, energy, transmission and operation and maintenance. The company operates in Malaysia, Sri Lanka, Bangladesh, Cambodia, Pakistan and Myanmar, and has a portfolio of over 26,000 towers across these markets.

    “Telekom Malaysia is proud to be given the opportunity to fulfill our role as the strategic partner in the country’s economic development. This partnership allows us to share and converge our capabilities towards accelerating Malaysia to be digitally connected,” Telekom Malasia group CEO Dato’ Sri Mohammed Shazalli Ramly said.

    “Telekom Malaysia is also committed to support the Government’s aspiration in providing better broadband access to Malaysians nationwide and further embrace smart solutions by offering next generation services.”

    The collaboration is subject to the signing of a definitive agreement that is expected to be finalized within the next six months.

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  • Fintech Firm TrueMoney Reaches 13,500 Customer Service Points in Indonesia

    Fintech Firm TrueMoney Reaches 13,500 Customer Service Points in Indonesia

    PT Witami Tunai Mandiri, the Indonesian operations of Southeast Asian fintech firm TrueMoney, has reached 13,500 Indonesia customer service points. Through these agent-managed service points TrueMoney provides a suite of e-money solutions, including depositing and withdrawing cash, paying for online purchases, and domestic fund transfers, which are fully compliant with Indonesian central bank regulations.

    TrueMoney is now one of the largest non-bank e-money providers, and the first non-bank fintech firms to hold a remittance license as well as a Shariah-complaint e-money license, critical for reaching a large percentage of Indonesian consumers.

    Alfamart, one of Indonesia’s largest convenience store operators, is TrueMoney’s latest partner, bringing its 13,168 outlets onto TrueMoney’s agent network. With TrueMoney’s suite of e-money solutions, Alfamart’s customers – many of which have no bank account or credit/debit card – can use digital financial services – pay, purchase, and transfer – that they may otherwise have no access to.

    Nussy Aryanto, President of TrueMoney Indonesia said, “Far too many of Indonesia’s people have no, or very limited access to financial services. By being mobile first and working with a number of partners such as Alfamart, we are able to offer access, convenience and completely new financial products to this large population. Our mission is to bring basic financial services to every single Indonesian.”

    According to the International Finance Corporation about 20%-25% of Indonesia’s 255 million population has a bank account, but there are around 325 million mobile subscriptions. With 85% of the population owning a mobile phone, about half are smartphones. This means digital services, including digital financial solutions, can reach a much larger segment of the population if delivered, at least in part, through mobile devices.

    Hans Prawira, President of Alfamart said, “We have millions of customers across Indonesia, especially outside of major cities. We are always trying to serve their needs, and our partnership with TrueMoney will bring a whole new set of products and services that will improve our customers’ lives. It will now be much easier and cheaper for them to send and receive funds from relatives, using cash at our outlets; their lives will be changed.”

    Marketing Magazine recently awarded TrueMoney Indonesia “The Best Innovation in Marketing” for it efforts at building an agent network of roadside shops and grocery stores to provide financial services across Indonesia.

    TrueMoney provides a number of e-payment services across Southeast Asia, including TrueMoney Wallet, WeCard (with MasterCard), TrueMoney Cash Card, Kiosk, Express, Payment Gateway, and Remittance. It also provides cash-in and cash-out services, which will be especially useful in Indonesia where a large number of the population is unbanked or underserved by banking and financial institutions. They can do this at any of TrueMoney’s 13,500 agent locations in ten provinces.

    Today, TrueMoney Indonesia introduced its newest service TrueMoney Remittance, with Alphamart as the service provider. TrueMoney Remittance is a cash-to-cash service which allows customers to send and withdraw cash from any of Alphamart’s 13,168 stores.

    TrueMoney launched its operations in Indonesia in June 2016. The partnership with Alfamart follows a number of important partnerships across Indonesia, including Samsung. TrueMoney is a subsidiary of Thailand-based Ascend Money, one of the largest fintech companies in Southeast Asia with over 20 million customers. Ascend Money is backed by Thailand’s CP Group and has recently secured a 20% investment by ANT Financial Services Group, operator of China’s most popular e-wallet Alipay.

  • AirAsia announces flights from Manila to Bali, Jakarta

    AirAsia announces flights from Manila to Bali, Jakarta

    Budget carrier AirAsia on Thursday announced it will start servicing flights from Manila to Bali and Jakarta in Indonesia starting January 2018.

    In a statement, AirAsia Philippines said it will start flying from Manila to Jakarta, Indonesia starting January 9, and to Bali, Indonesia starting January 19.

    Daily flights from Manila to Bali will have a departure time of 6:40 p.m., and an arrival time of 10:25 p.m. Flights back to the Philippines leave Bali at 11:20 p.m.

    Meanwhile, flights from Manila to Jakarta will have a departure time of 8:00 a.m, and an arrival time of 11:00 a.m. Flights back to the Philippines leave Jakarta at 11:30 a.m.

    In the same statement, AirAsia said it will also start flying to Ho Chi Minh in Vietnam starting November 17.

    Flights from Manila to Ho Chi Minh will have a departure time of 10:25 p.m. every Tuesday, Friday, and Sunday. Flights back to Manila leave Ho Chi Minh at 1:35 a.m. every Monday, Wednesday, and Saturday.

    With the new routes, AirAsia also on Thursday announced all-in promo fares available from P2,950 available until October 22, with a travel period from November 17, 2017 to April 30, 2018.

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