Will Bad Investment Drive Softbank Away from New Capital City Project?

By Editorial Team 26/05/2020
Summary

Softbank’s investment plan in Indonesia’s new capital city project in East Kalimantan is in jeopardy. On Monday, May 18, 2020, this Japanese venture capital firm announced a loss of US$ 8.9 billion or Rp 132 trillion in the 2019 fiscal year. Its investment subsidiary, Vision Fund 2, also failed to obtain fresh funds from investors.

SoftBank’s chief executive officer (CEO), Masayoshi Son, vowed to be more selective in investing. He also ensured that holding company, not a subsidiary such as Vision Fund, would carry out the investment plans. “It was because Vision Fund’s not-so-good performance,” Masayoshi Son revealed.

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