Hyundai Mobis, an automotive component manufacturer, has initiated the construction of a new electric vehicle (EV) dedicated battery system plant in Indonesia. The company’s aim is to establish itself as a leader in the ASEAN market’s electrification ecosystem. Hyundai Mobis plans to complete the plant by the first half of next year, using Indonesia as […]
Novarad said that its augmented reality (AR) powered VisAR surgical navigation system has secured clearance from Indonesia’s Food and Drug Administration (FDA) for intraoperative use in stereotactic spinal surgery. According to the American medical imaging solutions provider, VisAR is accurate for open as well as minimally invasive surgery (MISS). Novarad said that its technology for […]
German chemical company BASF will expand the capacity of polymer dispersions at its manufacturing facility in Merak, Indonesia, to meet the demand for high-quality packaging in ASEAN. The new expansion is anticipated to help BASF offer additional styrene-butadiene dispersions to new paper mills looking to increase their capacities in Southeast Asia and Oceania. Bir Darbar […]
StoneBridge Acquisition, an American special purposes acquisition company (SPAC), and DigiAsia Bios, an Indonesian embeddable ‘fintech-as-a-service’ (FaaS) company, have agreed to combine their businesses to form a new entity at a pre-money equity valuation of $500 million. Post-closing, the combined entity will be named DigiAsia and will trade on The Nasdaq Stock Market, with plans […]
Akulaku, a Southeast Asian fintech company, has secured an investment of $200 million from Japan-based Mitsubishi UFJ Financial Group (MUFG), marking the second strategic investment for the banking and digital finance platform this year. The funding is expected to help Akulaku expand its banking services across Southeast Asia. Akulaku’s future growth plans complement MUFG’s, accelerating […]
Japan’s Mitsubishi UFJ Financial Group (MUFG) and MUFG Bank have agreed to buy 100% of HC Consumer Finance Philippines (HC Philippines) and 85% of the shares of Home Credit Indonesia (HC Indonesia), both subsidiaries of Home Credit (HC) for around €596 million (nearly ¥87 billion). The acquisition is part of MUFG and MUFG Bank’s strategy […]
Pertamina Power Indonesia, Keppel Infrastructure, and Chevron will explore the feasibility of developing green hydrogen and green ammonia projects in Indonesia by leveraging renewable energy situated in Sumatera. To this effect, the companies have signed a joint study agreement (JSA) at the Business 20 (B20) Investment Forum held parallelly with the B20 Summit in Bali. […]
PGS ASA said that it has bagged a 3D exploration acquisition contract in Indonesian waters from an undisclosed energy company. The Norwegian marine geophysics company has also won a 4D acquisition contract in Australian waters from a global energy company. In mid-October 2022, PGS ASA will mobilize the Ramform Sovereign research/survey vessel to execute the […]
Cabot Corporation, an American specialty chemicals and performance materials company, has started construction on a new specialty compounds facility in Cilegon, Indonesia. Co-located with the company’s existing carbon black manufacturing site, the new facility will increase its annual global capacity for specialty compounds by 20,000 metric tons. Dixy Olyviardy — managing director of Cabot Asia […]
Axiata Group Berhad and XL Axiata will jointly acquire a stake of 66.03% Link Net Tbk, an Indonesian broadband and cable TV services provider, from Asia Link Dewa and First Media Tbk for IDR8.72 trillion ($610 million). The deal values 100% of Link Net at around IDR13.21 trillion ($920 million). While Axiata Group is a […]