Skip to main content

Indonesia's Lippo continues e-commerce push with payment service

From Business Insider
March 19, 2015

Indonesian conglomerate Lippo Group plans to launch payment, chat and other online services early next year as it continues expanding in the nascent e-commerce industry of the world's fourth-most populous country, a senior executive told Reuters.

Lippo has already earmarked $500 million for a new online department store, and investment in services planned for the first quarter of 2016 will be on top of that, director John Riady said in an interview late on Wednesday.

Indonesia has one of Asia's biggest untapped e-commerce markets which is only recently drawing major investors in search of the next Alibaba Group Holding Ltd. Japan's SoftBank Corp late last year led a $100 million investment in Indonesian online marketplace Tokopedia.

For detailed story, click here.

Comments

Post a Comment

Popular posts from this blog

Indonesia's Astra Pins Hopes on Inexpensive Cars

From Wall Street Journal Feb 14, 2013 PT Astra International plans to continue dominating Indonesia's booming car and motorcycle markets by spending billions of dollars on expansion and becoming the first auto maker to sell a car priced to reach the country's emerging middle class. Astra controls 54% of the passenger-car market through joint ventures with Japan's Toyota Motor Corp., Daihatsu Motor Co. and Isuzu Motor Ltd., and holds 58% of the motorcycle-and-scooter market through a joint venture with Honda Motor Co.  To expand the pool of Indonesians who can afford a car, Astra plans next quarter to introduce models with sticker prices as low as $8,000 through its joint ventures with Toyota and Daihatsu. Currently, the least-expensive passenger cars in Indonesia sell for at least $12,000. "We will be the first offering affordable vehicles," he said. "This year, [auto-sales growth] should at the very least be flat, provided this ne...
61 comments
Read more

Indonesia’s economy faces gathering headwinds

From Bloomberg Dec 6, 2013 Indonesian policy makers are grappling with a depreciated exchange rate, elevated inflation and diminished foreign capital inflows undermining President Susilo Bambang Yudhoyono’s legacy of economic stability before he steps down next year. His failure to fix infrastructure gaps in his two terms has added to price pressures, threatening his party’s chances at elections in 2014. The government will allow foreign ownership of as much as 100 percent on airports, airport services and ports, Mahendra Siregar, chairman of the Investment Coordinating Board, told reporters today. For ground and freight terminals, it may be as high as 49 percent, while a cap on overseas holdings in 10 other industries may be eased, he said. The World Bank said last month downside risks to Indonesia’s economic outlook are sizeable, as higher borrowing costs and inflation may have a greater-than-expected effect on domestic demand. Exports have dropped for 18 consecutive months. “Ext...
8 comments
Read more

Goverment to Build New Port in Subang or Indramayu

From The Jakarta Post April 2, 2015 The government has changed its plan to build a new port in Cilamaya and is seeking a better location in Subang or Indramayu, West Java. Vice President Jusuf Kalla said the government needed to build a new port but it would not be in Cilamaya. The Vice President, who visited Cilamaya with several ministers, including Coordinating Maritime Affairs Minister Indroyono Susilo and Transportation Minister Ignasius Jonan on Thursday, said the new port would be built east of Cilamaya, either in Subang or Indramayu. Kalla said the main reason to move the new port’s location to another regency was because waters in the area were already crowded by offshore mining activities and oil tankers transporting crude oil to Jakarta and other cities. The government has allocated Rp 34.5 trillion (US$2.6 billion) to construct a new port, as Tanjung Priok Port is deemed too crowded. For detailed story, visit here The government has changed its plan to build a new p...
Post a Comment
Read more