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PT Ilectra Motor Group (IMG or ALVA) with its brand ALVA has finalized its Series B fund raise, totalling up to USD50 million. The round which included all previous investors, is led by Horizons Ventures. New investors include HH-CTBC Partnership, L.P. (Foxconn Co-GP Fund), which together with Horizon Ventures and Indika Energy, form the largest investors of IMG to date. New investors other than Foxconn Co-GP fund include Brama One Ventures. Proceeds from the Series B funding will be used. ....
Indonesia is emerging as a hub for major securities firms overseas business due to the country s economic and demographic potential. Brokerage houses here have long recognized the need to diversify their sales channels overseas amid toughening competition in the domestic market. Their revenue structures are also vulnerable to macroeconomic circumstances, as was shown by their steep earnings fall in 2022 amid then-freezing investor sentiment on the back of steep rate hikes. ....
Nokia has announced the results of a trial conducted last year over a 3,551 km subsea cable between Jurong in Singapore to Manado in Indonesia – and they are pretty impressive. ....