Reporting and analysis on retail, e-commerce, and consumer trends in Indonesia, updated continuously by our newsroom.
The quarter’s earnings were driven by broad-based income growth and lower allowances. OCBC Bank recorded a net profit of S$1.5 billion ($1.13 billion) for the January-March period, a jump of 115 percent from the same period last year (S$698 million), and 33…
The number of motorbike taxi drivers riding for ride-hailing firm Gojek Vietnam has crossed the 200,000 mark with millions of commuters using its app. Competitor Be said last month it had 100,000 motorbike and car drivers. Singapore’s Grab, the market leader,…
America’s Citigroup will exit 13 international consumer banking markets, including Vietnam, to shift its focus to four wealth centers. The move is part of the bank’s strategic decision to direct investments and resources to businesses with the greatest scale…
Ooredoo today announced that its Indonesian operating company, PT Indosat Tbk. (“Indosat Ooredoo”), has signed a sale and leaseback agreement with PT EPID Menara AssetCo (“Edge Point Indonesia”) for more than 4,200 telecommunications towers. PT EPID Menara…
The store represents the brand’s largest store yet in Southeast Asia, and features the brand’s new ‘Next Gen’ design concept. The new store is located in Grand Indonesia East Mall and features a range of technology features including Levi’s first associate…
The platform, which caters to the financing needs of micro, small, and medium enterprises (MSMEs) in the country, experienced strong growth in 2020. Batumbu, a subsidiary of Singapore-based Validus, has received regulatory approval to operate as a licensed…
The MENA deal is actually an extension to the current retail agreement Ted Baker has with Al-Futtaim Group but adds in new e-commerce and wholesale rights for the region. The all-new 10-year Indonesia dealx has been signed with PT Mitra Adiperkasa (MAP) for…
Indosat Ooredoo and Play2Pay, Inc. have entered a partnership to launch Adsgift, a platform that provides a unique, exciting, and personalized gamification experience for its users. Adsgift enables users to find out about the latest trends in the market, gets…
Gojek has joined rival Grab in backing Indonesian state-backed e-wallet company in its Series B funding round. Gojek’s joining as a strategic shareholder will provide LinkAja access to the Gojek ecosystem to support LinkAja’s mission in accelerating financial…
Both companies will be part of a newly formed financial entity that aims to provide inclusion through financial services across Southeast Asia. Singapore’s Xfers has received a strategic investment of $30 million from Payfazz, which operates the largest…
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…
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…
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…
The Indonesian Anti-dumping Committee has concluded that Vietnam is dumping cold steel sheets following a 16-month-long investigation. Indonesia will apply anti-dumping duties of 3.01-49.2 percent on imports from Vietnam. But some major exporters are set to…
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)…
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…
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