Business

Business

CIMB Niaga Teams Up with Genesis Alternative Ventures for Startup Financing

Private lender CIMB Niaga has teamed up with Singapore-based venture lender Genesis Alternative Venture to provide loans for startup. For the first stage, both companies prepare Rp 300 billion of fund to disburse. The collaboration is the first loan financing scheme for startup in Indonesia that combines conventional banking and venture lender.CIMB Niaga President Director Tigor M. Siahaan says the loan aims to help up-and-coming startups so they can scale up their businesses. The lender is targeting startups in fashion and retail, manufacturing, F&B, property, health, digital security and transportation business.“The loan does not work as a seed capital, because
EC
Ester Christine Natalia 1 month ago . 1 min read
Business
Forward Looking
Forbes Indonesia talks with representatives of international chamber of commerce on investment climate.Foreign direct investment (FDI) realization continues its downward trend for three consecutive quarters
EC
Ester Christine Natalia 4 months ago . 8 min read
Business
Forbes Billionaires 2019
Forbes released its World Billionaires with 21 Indonesian businessmen on the list.
MP
Marella Putri 4 months ago . 1 min read
Business

Michelin Now Owns 80% Shares in MASA

France-based tire producer Michelin tightens its grip on Indonesia market by buying as much as 7.3 billion shares that equals with 80% shares of publicly listed national tire manufacturer PT Multistrada Arah Sarana Tbk (MASA). Both companies announced the transaction that worth $439 million on January 22.“The acquisition of Multistrada represents an excellent opportunity for Michelin to expand its operation in Indonesia, the most populous country in Southeast Asia, and immediately gain competitive good-quality production capacity without having to create any new manufacture facility,” says CEO Michelin Group Jean-Dominique Senard.Michelin will gradually shift the current Multistrada’s passenger car tire production,
EC
Ester Christine Natalia 5 months ago . 1 min read
Business
Time for Ethiopia
Ambassador Admasu Tsegaye insists that now is the right time to invest in his country.
AW
Ardian Wibisono 6 months ago . 6 min read
Business
Building Bridges
Berlin is making the first step to bridge opportunities with Asia, creating the first intercontinental startup ecosystem with wide areas of collaboration for both sides.
MP
Marella Putri 7 months ago . 5 min read
Business
Forbes Indonesia 50 Richest: The Top Gainers
Indonesia strong performance in economy and composite index had made the country tycoons wealthier this year. The biggest gainer in terms of value was the
EC
Ester Christine Natalia 7 months ago . 3 min read
Business
50 Indonesia's Richest Wealth Breaks a Record of $129 Billion
Continued economic growth and a 4.4% rise in the stock market index in the last 12 months have contributed to the gain in net worth of tycoons on the Forbes Indonesia Rich List, which climbed to a record $129 billion
AW
Ardian Wibisono 7 months ago . 3 min read
Business
Indonesia's 50 Richest: The Newcomers
Forbes Indonesia 50 Richest this year welcomes four newcomers coming from different industries to the list: Danny Nugroho, Benny Tjokrosaputro, Sabana Prawirawidjaja, and Kardja Rahardjo.
EC
Ester Christine Natalia 7 months ago . 2 min read
Business
Sat Nusapersada to Team Up with Apple Manufacturer
Publicly listed electronic manufacturer PT Sat Nusapersada (PTSN) announced that it would sign a contract with Taiwan-based Apple manufacturer Pegatron Corporation to assemble its products
EC
Ester Christine Natalia 7 months ago . 2 min read
Business
Upgrading Local Talent
Employment is a hot button issue in Indonesia. The issue of unemployment has been a key platform for president Jokowi. His US$300 million effort in upgrading the nation’s infrastructure has seen some success in reducing unemployment figures. In the first quarter of this year, Indonesia reported unemployment rate stood at 5.13%.
NC
Nitesh Chellaram 8 months ago . 3 min read