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Kredivo has acquired Indonesian fintech platform GajiGesa for approximately US$5 million to US$6 million, a significant drop from its last valuation of around US$33 million. The sale was influenced by shareholder pressure amid challenges in securing further funding, which could lead to investor losses.Founded in 2020, GajiGesa offers Earned Wage Access services, enabling employees to access wages before payday, and serves over 27,000 users with a transaction value exceeding 611 billion rupiah (US$37.38 million). The platform competes with other players in the market, including Wagely and Paywatch.
Market reactions to new tariffs are expected to be more orderly than in 2018, with Chinese equities showing muted positioning compared to previous trade escalations. The U.S. economy may face a 0.8% hit by 2025 if tariffs are prolonged, while Asian currencies, particularly the Korean won and Malaysian ringgit, could be vulnerable to a weakening yuan. The Indian rupee is anticipated to remain more defensive despite potential rate cuts amid a cyclical slowdown.
Indonesia is emerging as a global leader in crypto adoption, ranking third in the Chainalysis Global Crypto Adoption Index, with a market growth of nearly 200% year-on-year. The supportive regulatory environment and a young, tech-savvy population are driving this revolution, yet only 8% of the population currently engages with crypto. To further enhance adoption, the industry must develop Shariah-compliant solutions and localized education initiatives that align with the cultural and ethical values of the predominantly Muslim population.
Axiata Group Bhd. and PT Sinar Mas Group are reportedly close to finalizing a merger of their telecommunications operations in Indonesia. The deal, which could be announced soon, may involve a combination of cash and shares, creating a new entity with approximately 100 million customers.
The Financial Services Authority (OJK) reports that the financial sector in Central Sulawesi remains stable with positive growth as of September 2024. Banking assets grew by 18.39% to IDR 73.58 trillion, while third-party funds increased by 14.74% to IDR 36.05 trillion. Additionally, bank loans rose by 23.30%, and sharia banking assets grew by 17.07%, reflecting a commitment to supporting small and medium-sized enterprises.
Japanese automakers are facing significant challenges in Southeast Asia as Chinese brands gain market share, particularly in the electric vehicle sector. Despite a long-standing dominance, Japanese companies like Toyota and Nissan are losing ground due to their slow transition to electric models, with sales dropping sharply across the region. In response, they are investing billions to adapt their production for electric vehicles, but the competition from affordable Chinese EVs poses a serious threat to their market position.
JPMorgan Private Bank forecasts that developed markets will outperform emerging market equities in 2025, despite strong economic growth in regions like India, Taiwan, Indonesia, and Mexico, which are expected to yield solid returns. The bank notes that while emerging economies have averaged a nominal GDP growth of 4.3% since 2009, many domestic companies, particularly in China, have struggled with stagnant profits. Key investment factors include a robust private sector, higher EPS returns, and strong export industries, with India leading in earnings growth at 296% from 2009 to 2024.
Indonesia’s largest taxi operator, PT Blue Bird, anticipates that a new BYD Co. plant will help reduce electric vehicle prices as it aims to expand its fleet. The company plans for electric vehicles to make up 3% of its fleet by next year, with a goal of reaching 20% by 2030, according to Noni Purnomo, president commissioner at Bluebird Group Holding.
Route Mobile shares rose over 3% to Rs 1,460 on November 26, marking the largest increase in 15 weeks, despite a 9% decline this year, contrasting with the Nifty 50's 10% gain. On November 22, Route Mobile UK approved the acquisition of 75 lakh shares in PT Route Mobile Indonesia, securing a 99.9% stake in the company, which specializes in omni-channel communication services.
Indonesia has deemed Apple Inc.'s $100 million investment proposal as unfair, with a top government official indicating that further negotiations are necessary before the ban on domestic iPhone 16 sales can be lifted. The offered amount is considered insufficient compared to Apple's investments in other countries, according to Industry Minister Agus Gumiwang Kartasasmita.
Indonesian Rupiah
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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