The Indonesia Investment Authority (INA) raised more than US$20 billion in assets under management (AUM), including from the Government of Singapore Investment Corporation Private Ltd (GIC) and the Abu Dhabi Investment Authority (ADIA).
Indonesia is listed as one of the countries with the highest private debts in foreign currencies. As a result, domestic corporations are very vulnerable to currency depreciations.
Singapore dethrones Hong Kong as Asia’s top financial hub and the third in the world after New York and London.
The Merah Putih Fund, which has just secured Financial Services Authority (OJK) permit, already has 30 startups in its investment pipeline.
The financial task force establishment responds to the increasing prevalence of crime in the sector.
PT Bank Syariah Indonesia Tbk (BSI) is reportedly lobbying the House of Representatives to change its status to a state-owned enterprise, allowing it to secure state capital injections (PMN).
Sea Ltd has acquired shares of PT Asuransi Mega Pratama in an attempt to become the market leader in the Indonesian financial industry.
AC Ventures is leading an US$11 million Series A funding round for crypto asset trading platform Reku. AC Ventures also named technology veteran Jesse Choi as Reku's COO.
Indonesia Business Competition Supervisory Commission (KPPU) investigates Google's alleged monopoly in Google Pay Billing (GPB) services.
DBS becomes the first bank in Southeast Asia to announce a landmark set of decarbonization commitments. Interim decarbonization targets set for 2030 and commitment to finance net zero emissions by 2050.