#Finance
Mandiri, BTN and BRI step up cybersecurity game with bigger IT Capex in 2023
Three major state-owned banks of Mandiri, BRI and BTN will use their 2023 Capital Expenditure (Capex) to support the strengthening of cybersecurity, digital architecture, IT and digital services.
The rise and risk of PayLater trend
The digital era has helped customers to use online transactions, including the rising trend of the Buy Now Pay Later (BNPL) feature - famously known as PayLater - in several ride hailing platforms, marketplaces and e-wallets. The COVID-19 pandemic in the past two years boosted the use of online transactions as governments imposed lockdowns and mobility restrictions. Low penetration of credit cards in Indonesia also becomes another factor why customers prefer using PayLater.
40 biggest companies in Indonesia
A diverse range of companies in various industries, from natural resources and manufacturing to banking and telecommunications, plays a significant role in the Indonesian economy. These companies also serve as major employers in the country.
Tourism and gaming still lucrative for investors despite global recession threat
Indonesia still offers a great investment prospect in several industries namely tourism and gaming amidst the 2023 global economic recession threat. Speakers at the Indonesia PE-VC Summit by DealStreetAsia (DSA) concluded that Indonesia still provided lucrative investment opportunities.
Kopi Kenangan plans global market expansion in 3 years
Indonesia unicorn company Kopi Kenangan has planned to launch an IPO in the Indonesia Stock Exchange (IDX) although not in the foreseeable future. Instead, the company is focusing on global expansion as a corporate action before the IPO. CEO and Co-founder of Kopi Kenangan, Edward Tirtanata, said the company was in the process of opening new overseas outlets.
Robust market, improvement are fundamentals for investment: Northstar's Patrick Walujo
Northstar’s Co-founder and Managing Partner Patrick Walujo said private equity (PE) companies would need to focus on fundamentals to grab early-stage opportunities in Indonesia due to its vast favorable demographics and macroeconomics indicators as well as robust market.
Bank BTN focuses Capex on IT security
State-owned lender PT Bank Tabungan Negara Tbk (BTN) will increase its Capital expenditure (Capex) in 2023 by 18% to strengthen its information technology (IT) security system and the development of digital banking services.
Halal product industry in Indonesia: A brief background and its challenges
As 86.7% of the country's population is registered Muslim, the halal market trends in Indonesia tends to increase significantly, especially these past 10 years. The country is now known as the world's largest domestic halal economy market. The most potential halal products are food, beverages, Muslim clothing, cosmetics, and halal tourism, according to a professor at the Bogor Agricultural University (IPB)'s School of Argoindustrial Technology Khaswar Syamsu.
Government restructures palm oil plantation company, to launch IPO for PalmCo in 2023
The government has decided to restructure state-owned plantation company PT Perkebunan Nusantara (PTPN) III into three subholdings and would launch an IPO for one of them, which is the oil palm plantation PalmCo.
DGT efforts to increase Indonesia's tax ratio up to 15%
The Directorate General of Taxes (DGT) intends to raise the present tax ratio to 15%, aligns with the global average. Indonesia's current tax ratio of 10.4% is still below the global average of 13.5%, as per the DGT. Indonesia is also trailing behind other nations in the ASEAN region; for instance, Thailand's tax ratio is at 14.5%, the Philippines at 14%, and Singapore at 12.9%.
Telkom's subsidiary and Germany 's venture capital collaborate, invests in deep tech start ups
MDI Ventures, a venture capital owned by PT Telkom Indonesia Tbk. has established a strategic partnership with Antler Germany, an early-stage venture capital and global startup generator on April 19, 2023.
Fake QRIS code, new threats to digital banking ecosystem
The recent case of fake QRIS codes installed in charity boxes presents a major hurdle amid Bank Indonesia’s efforts to develop a digital, tech-based payment system.