BRI Agro

Indonesia’s BRI Agro seeks to raise external capital and enter supply chain financing to advance its digital banking ambitions in the country, its chief executive officer Kaspar Situmorang told DealStreetAsia in an interview.


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Flag carrier Garuda Indonesia defaults on $500m sukuk

Workers clean the body of a Garuda Indonesia Airbus A320 aircraft inside Hangar 4 of PT Garuda Maintenance Facility (GMF) Aero Asia at Soekarno-Hatta airport in Jakarta. Flag carrier Garuda Indonesia said it could not distribute coupon payments for its $500 million sukuk after a 14-day grace period, with the airline‘s finances still significantly impacted by…

Read more: Flag carrier Garuda Indonesia defaults on $500m sukuk

Indonesia’s OTT firm Asia Vision Network merges with SPAC to launch US IPO

Photo by : hobi industri via Unsplash Indonesia’s PT Asia Vision Network (AVN) announced its plans to go in for listing through a merger with NASDAQ-listed SPAC Malacca Straits Acquisition Company (MLAC). AVN, a wholly-owned subsidiary of MNC Vision Networks Tbk (IPTV), has submitted a draft to the US Securities…

Read more: Indonesia’s OTT firm Asia Vision Network merges with SPAC to launch US IPO

Indonesian e-commerce firm Bukalapak seeks to raise up to $800m in IPO

Photo: Bukalapak Bukalapak, Indonesia’s No. 4 e-commerce firm, is keen to raise as much as $800 million in an IPO in August, two people with knowledge of the matter said, in what is likely to be the biggest by a startup in the Southeast Asian nation. Tapping a sharp pickup…

Read more: Indonesian e-commerce firm Bukalapak seeks to raise up to $800m in IPO

Bank Rakyat Indonesia seeks to sell 23.25% stake in rights issue

Jakarta, Indonesia. Photo by Tom Fisk on Pexels. Indonesia‘s largest lender by assets, PT Bank Rakyat Indonesia said on Tuesday it will seek shareholders approval next month to conduct a rights issue that will enable the acquisition of two state firms. BRI plans to sell a maximum 28.68 billion shares in the rights sale, or 23.25% of its total equity, the company said in a…

Read more: Bank Rakyat Indonesia seeks to sell 23.25% stake in rights issue

Indonesia’s Akulaku repays pending loans with global P2P marketplace Mintos

Indonesian online consumer finance platform Akulaku says it has fulfilled all outstanding loan obligations to the European peer-to-peer (P2P) marketplace Mintos. 

Read more: Indonesia’s Akulaku repays pending loans with global P2P marketplace Mintos

Indonesian P2P lender UangTeman co-founder places shares as collateral to save company

Photo by Blake Wisz on Unsplash Embattled Indonesian P2P lender UangTeman has seen its largest shareholder Aidil Zulkifly, who is also co-founder and CEO, placing most of his stake as loan collateral to help refinance unpaid loans. Zulkifli said he transferred his shares to Singapore-based SME financing company Cash In…

Read more: Indonesian P2P lender UangTeman co-founder places shares as collateral to save company

Indonesia aims to sell only electric-powered cars, motorbikes by 2050

A worker watches as trucks load up raw nickel near Sorowako, Indonesia’s Sulawesi island, January 8, 2014. REUTERS/Yusuf Ahmad/File Photo Indonesia aims to sell only electric cars and motorcycles by 2050 to replace vehicles powered by combustion engines, the country’s energy minister said on Monday, as the Southeast Asian country seeks…

Read more: Indonesia aims to sell only electric-powered cars, motorbikes by 2050

Editor’s take: The week that was — June 7-12

In one of the most significant developments that unfolded last week, Southeast Asian ride-hailing unicorn Grab said its merger with blank-cheque company Altimeter Growth Corp has been delayed. The company can now complete the SPAC merger only by the fourth quarter of this year. It had previously said it was seeking to complete the transaction…

Read more: Editor’s take: The week that was — June 7-12

Indonesia’s BukuWarung raises $60m led by Valar Ventures, Goodwater Capital

Bank Syariah Indonesia seeks to tap religious millennials to double assets

Indonesian app BukuKas bets on angels to give flight to its fintech ambitions

Indonesian ecommerce GMV grows 91% to reach $40.1b in 2020

Garuda Indonesia to seek suspension of debt payments to avert bankruptcy

Indonesian P2P lender Amartha raises $7.5m from Norway wealth fund

Indonesian P2P lenders face an existential threat as COVID reshapes finance

SEA Digest: SG’s Nexif Energy partners RATCH; KDDI backs Indonesia’s Qlue

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