Photo: Mitsui & Co

JAKARTA (TheInsiderStories) – Japan’s Tokyo Century Corp. has made an additional strategic investment in PT Bumi Cakrawala Perkasa (BCP), a shareholding company of Indonesia’s leading conglomerates Lippo Group’s electronic money and point services company. Total investment of this transaction about US$116 million in BCP.

BCP is a shareholder in PT Visionet International focusing on providing IT backbone services through OVO applications. In 2016, PT Multipolar Tbk (MLPL)–other unit of Lippo Group–through its subsidiary PT Prima Ecommerce Global has increased its stake in BCP.

BCP is a shareholder in PT Visionet International focusing on providing IT backbone services through OVO applications.

Based on Tokyo Century statement on Dec. 26, the deal is following strategic partnership with Lippo Group, Indonesia’s leading conglomerates, on Nov. 25, 2016 regarding the collaboration in digital and financial technology (fintech) business.

As the first phase of the collaboration, Tokyo Century invested $17million in PT Big Ecommerce Bersama, a shareholding company of an e‐commerce business company covering B‐to‐G and B‐to‐B business, in order to acquire 20 per cent of its shares.

John Riady, Director of Lippo Group, said, “Tokyo Century is a strategic partner of the Lippo Group and we are pleased to welcome their investment into BCP.”

After launched Matahari Mall online shop in 2016, Lippo group created Mbiz in April, 2017 which specifically targets businesses and government institutions. Mbiz is inviting vendors of a wide range of products to join its platform as suppliers.

Mbiz is operated by PT Brilliant E-Commerce Berjaya, part of the Lippo group. Matahari Mall, however, is operated by PT Global Ecommerce Indonesia, in which Investama Digital Ventura holds a majority stake.

Before venturing with Tokyo Century, in 2016 Lippo Group and Mitsui & Co. acquired a stake of approximately 10 per cent in Global Ecommerce Indonesia, which owns MatahariMall.

The Chinese-Indonesian conglomerate made a full-scale entry into the e-cash business this summer by launching a smartphone-based service that lets users shop with e-cash and accumulate shopping points. The service, called OVO, is expected to attract 8.5 million users by the end of next year.

Lippo Group primarily covering real estate business, retail, IT and mass media, hospital and finance. Over 400 affiliates in Indonesia and overseas (20 companies are listed)

In Indonesia, Tokyo Century managed three companies namely PT Century Tokyo Leasing Indonesia, PT TCT Indonesia and PT Hexa Finance Indonesia.

Indonesia has a large population of 260 million with a significant number of young people, only around 40 per cent of Indonesians own bank account and credit card penetration rate in Indonesia is still less than 10 per cent. Thus, the use of electronic money through mobile phones has spread rapidly in the country.

Written by Linda Silaen, Email: linda.silaen@theinsiderstories.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here