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Tag: indonesia

Retail Asia02/03/2021
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Telecom

Indosat Ooredoo earns 11.6% cellular revenue growth in 2020

5min0
President Director and CEO Indosat Ooredoo, Ahmad Al-Neama said: “Despite the challenges created by the COVID-19 pandemic and pricing pressure, Indosat Ooredoo has continued to deliver on our three-year strategy and maintained growth momentum. We are grateful for the on-going support of our loyal subscribers that have encourage us to continue to invest in our […]
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Retail Asia26/02/2021
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Startups

Travel App Sets Sights on Financial Services

2min0
Indonesian online travel unicorn Traveloka is targeting Thailand and Vietnam for launching financial services ahead of a possible IPO. Undaunted by Covid-19 related disruptions, Southeast Asia’s biggest online travel startup is eyeing moves into the financial services space as the company diversifies its offerings in a region ripe for disruption in the space. The plan […]
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Retail Asia25/02/2021
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Fashion

Giordano opens largest retail store in Indonesia’s

1min0
Apparel retailer Giordano has unveiled a large-scale store in the newly opened Bumi Raya City Mall in Pontianak, Indonesia. Located on the mall’s first floor, the Giordano store spans 2300sqft and offers a complete range of men’s, women’s and children products. “This is our second store in Pontianak, which is one of the most culturally […]
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Retail Asia19/02/2021
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Finance

Singapore’s Shopee to Launch Digital Bank in Indonesia

2min0
Shopee, the e-commerce arm of Singapore’s Sea Group, is planning on transforming Indonesian lender Bank Kesejahteraan Ekonomi (Bank BKE) into a digital bank, according to a «Reuters» report on Thursday. An Indonesia’s Financial Services Authority (OJK) official said that Shopee has yet to make an official application with the banking regulators, but is «currently preparing the infrastructure» […]
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Retail Asia17/02/2021
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Finance

Bank Permata CEO to Head Indonesia’s New Wealth Fund

2min0
The fund, which currently has around $15 billion in assets, is targeting to grow to $100 billion. Ridha Wirakusumah, who has been CEO Indonesia’s Bank Permata since 2017, will become the chief executive officer of the country’s new strategic development sovereign wealth fund, the Indonesia Investment Authority said in an announcement on Tuesday. Wirakusamah has […]
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Retail Asia05/01/2021
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Startups

Gojek Plans Merger With E-Commerce Giant

2min0
The Indonesia-headquartered super-app is reportedly in advanced merger talks with local e-commerce marketplace Tokopedia, ahead of a planned initial public offering of the combined entity. Indonesia’s two most valuable start-ups have signed a detailed term sheet to conduct due diligence of each others’ business, a «Bloomberg» report on Tuesday said. The deal would create an internet […]
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Retail Asia24/12/2020
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Startups

Gojek Makes Financial Push in Indonesia

2min0
The Indonesia-headquartered super-app is increasing its stake in Bank Jago as part of its bid to accelerate financial inclusion in Asia. Gojek’s payments and financial services arm GoPay will own 22.2 percent of Indonesia’s Bank Jago, up from 4.1 percent, as part of a deal worth $159 million. Controlling shareholders Metamorfosis Ekosistem Indonesia and Wealth Track […]
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Retail Asia24/12/2020
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General

ZA Tech Partners to Launch Insurtech in Indonesia

2min0
Chinese firm ZA Tech Global is partnering Indonesian payments giant Ovo to offer Indonesian insurance companies access to its proprietary insurtech capabilities and applications. BCP, the holding company of Indonesia’s leading e-wallet Ovo, and ZA Tech Global, a technology venture for overseas markets of ZhongAn Online P&C Insurance, have announced a strategic joint venture to create […]
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Retail Asia11/12/2020
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Fashion

Pomelo store lifts off in Jakarta

2min0
Omnichannel fashion retailer Pomelo has launched in Indonesia with its first store at Central Park Mall, Jakarta. The new store features a new design with an entirely different interior layout and looks to stores elsewhere in Southeast Asia. Pomelo Indonesia also embraces sustainability concepts, with sustainably-produced components used in the fit-out and 90 percent of […]
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Retail Asia09/11/2020
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Finance

Singapore and Indonesia Central Banks Extend Swap Arrangement

1min0
The extension will support monetary and financial stability in both countries amid the COVID-19 pandemic, MAS said. Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) have agreed to extend a $10 billion bilateral financial arrangement for another year, MAS announced on Thursday. This is the second extension of the arrangement, which was launched in 2018 for […]
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Retail Asia06/11/2020
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Fashion

Indonesian beauty retailer Sociolla lands in Vietnam

3min0
Beauty technology company Social Bella announced its first overseas expansion with the launch of the beauty e-commerce platform Sociolla in Vietnam. Demand from beauty enthusiasts in Vietnam was one of the company’s considerations, following a US$58 million funding from investors, such as Singaporean state investment fund Temasek and its private equity subsidiary Pavilion, alongside Singaporean venture capital firm […]
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Retail Asia22/10/2020
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Automotive

Tesla May Build A Battery Plant In Indonesia

2min0
Tesla is reportedly planning to build a facility for making batteries in Indonesia a report by CNBC revealed. “Minister of Industry (Menperin) Agus Gumiwang confirmed about Tesla’s plan, he said that Tesla would later be directed to build a factory in Batang. Currently, the discussion process between Tesla and the government is still ongoing,” says […]
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Retail Asia01/10/2020
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Finance

Payments Platform PPRO Enters Indonesia

2min0
The cross-border payments specialist is integrating e-wallet leaders Doku and Ovo into its global portfolio. The new integrations help to accelerate market entry and boost conversion for businesses hoping to tap on Southeast Asia’s largest e-commerce market, where credit card penetration is less than 5 percent of the population, the company said in an announcement. PPRO’s local payments […]
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Retail Asia21/09/2020
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General

New Wealth to Grow Distribution in Indonesia

2min0
The Singapore-based digital wealth engagement solutions provider has its sights on the retail and affluent banking segments in Indonesia. New Wealth has inked a strategic partnership with digital engineering firm HAXtech to distribute its solutions to banks, insurance, and fintech firms in Indonesia, the company announced in a press release on Friday. The partnership promises improved […]
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Retail Asia01/09/2020
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General

The airline founder building Asia’s next super app

3min0
AirAsia’s founder Tony Fernandes is building what he hopes will be the region’s next “super app” as he deals with the coronavirus travel downturn. He wants to rival the likes of Grab, GoJek, and WeChat with an all-in-one app for food delivery, shopping, payments, entertainment, and travel. As the airline’s boss, he has been looking […]
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