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Indonesia’s largest conglomerate, Salim Group, has acquired a majority stake in a local bank, marking its first return to the banking business since the 1998 Asian financial crisis. Through various affiliated entities, the group bought at least 51% of Bank…
Indonesia’s Salim Group is planning a major foray into e-commerce this year in partnership with South Korea’s Lotte. Indo Lotte Makmur, a 50-50 JV by the two conglomerates, will launch the iLotte online shopping platform as soon as July, putting US$88 million…
Salim Group’s decision to enter the poultry feed business in Indonesia in a bid to expand has yet to deter publicly listed poultry firm Charoen Pokphand Indonesia — whom currently holds 34 percent of the market share. Charoen Indonesia voiced optimism that…
Beancounting has taken a turn for the worse for Caffe Bene Korea, which has just reported a net loss of US$30 million. The coffee shop chain’s turnover was $97 million, according to a corrected annual report filed with South Korea’s Financial Supervisory…
Days after being launched, Singapore’s Hallyu Ventures (HVPL) has spent US$13.8 million to take a 38 per cent shareholding in South Korean coffee chain Caffe Bene, which has outlets in 14 countries. HVPL is a joint venture between Future Investment Holdings…
Three Indonesian eCommerce platforms are about to be launched – by Astra Graphia, CT Corp and a joint venture formed by the Salim and Lotte Groups. This comes after forays into eCommerce in the past 12 months by such Indonesian conglomerates Lippo Group…
South Korean confectionery manufacturer Lotte Group is planning an eCommerce joint venture with one of Indonesia’s largest conglomerates, the Salim Group, within the next few months with the aim of being up and running by early next year. This follows a new…
South Korea’s retail conglomerate Lotte Group said Sunday that it plans to form a joint e-commerce venture with Indonesia’s biggest conglomerate Salim Group to grab a pie of the rapidly growing e-commerce market in Indonesia. According to Lotte Group, its…
Indonesia’s top bread producer Nippon Indosari Corpindo on Monday said it will enter the Philippines bakery market by setting up a joint venture factory with local food company Monde Nissin Corporation. A girl looks at breads shaped like roasted pigs, locally…
Tech company Indra Philippines Inc is mulling business expansion in Southeast Asia with a possible tie-up with the Indonesia-based conglomerate Salim Group, reports said. Avionics and air defense radar systems are some of the main business targets of Indra in…
Shinhan Card will acquire a controlling stake in an Indonesian financial company as part of its expansion strategy into emerging markets, the credit card company said Thursday. “We will sign a deal next week in Jakarta to buy a 50 percent stake plus a share…
