Daily Business Briefing – Sept. 21

JAKARTA (TheInsiderStories) – Good morning. We offer you several relevant news that might help your business decisions today :

Mitsui Enters Indonesian Dairy Market

Mitsu & Co is getting into the dairy business in Indonesia through local food producer ABC Group. An initial US$50 million or so will be invested in farm and processing capacity to integrate operations, from producing raw milk to selling the final products. The Japanese trading house has taken a 30 percent stake worth 1 billion yen ($8.88 million) in Raffles Pacific Harvest in the highlands of Garut, West Java. The 72-hectare farm will initially rear 900 cows with plans to raise up to 10,000 in the long run. Raw milk will be sent from the Raffles’ farm to a processing plant 30km away in Bandung operated by ABC Kogen Dairy, in which Mitsui has also taken a 30 percent stake for 1 billion yen. (Nikkei)

Telkom Partnerships with Hong Kong’s Oona 

PT Telkom Indonesia Tbk (IDX: TLKM) partnership with OONA, the company behind the cutting-edge OTT OONA Mobile App that can deliver exciting content and live TV to millions of people in developing countries via 3G and 4G connectivity. Both companies share the same dynamic vision and drive to offer high quality free entertainment to emerging markets including the 135,000,000 plus Indonesians who will be able to enjoy free mobile TV anytime, anywhere with OONA from December of this year.

Bank Mandiri Foresees 50 Percent Growth of E-Money in 2017

PT Bank Mandiri Tbk (IDX: BMRI) foresees over 50 percent growth of the electronic money (e-money) cards issued in 2017. Senior Vice President for Transaction Banking Retail Sales Thomas Wahyudi told Tempo that as of August, e-money card payments have reached Rp3.4 trillion with the frequency of card usage of over 300 million times. Data from Bank Indonesia shows that the biggest surge in e-money chip issuance took place in June and July totaling 5,750,215 chips issued by 25 e-money card issuers. An official data released by Bank Indonesia reports that the months of June and July saw the highest surge of e-money chip sales at 5,750,215. E-money payments in July hit Rp1.14 trillion with 68.69 million transactions.

East Ventures Launch US$30 Million Fund for Indonesian Startups

Singapore-based East Ventures on Thursday said it will launch a US$30 million fund to invest in early-stage technology startups in Indonesia, said Willson Cuaca, a partner at the company on Thursday. East Ventures profile in Indonesia has been boosted by a series of high-profile deals in recent months by its earlier investments. These include e-commerce platform Tokopedia and online travel agent Traveloka, which have announced funding of $1.1 billion and $500 million respectively.