Fajar Adiwidodo

Business Partners, business valuation is crucial in determining the value of a company and involves the assessment of financial performance, market conditions and industry trends to determine a fair value. The valuation process in Indonesia often involves detailed financial analysis, market comparisons and consideration of unique local factors such as the regulatory environment and economic conditions. Learn more about business valuation and its impact on Indonesian companies! #CorporateValuation #BusinessGrowth #InvestmentOpportunity

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Despite significant growth and lofty valuations in 2021-22, the Indonesian wealth tech market is now facing challenging conditions, necessitating a re-evaluation of monetization strategies for long-term benefits. Y&S Chief Operating Officer, Jeffrey BAHAR, shared with DealStreetAsia how the industry must diversify beyond mutual funds and stocks to achieve higher profit margins: https://lnkd.in/gs66RGAp #yamadaconsultingandspire #yamadaspire #dealstreetasia #wealthtechplayers #indonesia #wealthmarket #mutualfunds #stocks #retailinvestors #transactionfees #strategicpartnerships #industrylandscape Ryosuke Funayama Leon Perera Japnit Singh Go S. Chi Nguyen Saurabh Sharma John Yam Adnan Kaddoura Tarek Elhousseiny Aditya Sapru David L. Llamas Daniel Faricy Lijo James Nhu Hua Adeline Lim Andrea Lim Ryo Takahashi Takafumi Kuramoto Bambang Tobing Albertus Edy Rianto yogi priyantoro Windy Pradipta Prizzy Natacia Sumie Mizugaki Marie Teo Twinkle Khurmi

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PT Bank Central Asia Tbk (BBCA), headquartered in Indonesia, leads the pack with an impressive market cap of $75.93 billion in the banking sector. Singapore’s DBS Group (D05) closely follows with a market cap of $62.48 billion. Another Indonesian bank, PT Bank Rakyat Indonesia (Persero) (BBRI), holds a substantial market cap of $57.59 billion. Diving into renewable energy, PT Barito Renewables Energy (BREN) focuses on independent power and renewable electricity production, boasting a market cap of $43.23 billion. Meanwhile, the Oversea-Chinese Banking Corporation (O39), a major player in Singapore’s banking industry, stands at $43.45 billion. PT Bank Mandiri (Persero) (BMRI), operating in Indonesia, has a market cap of $41.5 billion. In the oil and gas sector, PT Bayan Resources (BYAN) commands a market cap of $41.96 billion. For metals and mining, PT Amman Mineral Internasional (AMMN) is valued at $35.26 billion. Singapore’s United Overseas Bank (U11), operating in the banking sector, follows closely with a market cap of $35.36 billion. Lastly, Singapore Telecommunications (Z74) (commonly known as Singtel) plays a significant role in the telecommunications industry with a market cap of $28.60 billion. These companies collectively shape the economic landscape of Southeast Asia, contributing to its growth and dynamism. #BCA #bankingandcapitalmarket #asean

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Top 10 VC Investors in Indonesia (2024) 1. Alpha JWC Ventures - Fintech, Consumertech 2. MDI Ventures - multi-stage, telcom 3. AC Ventures - early-stage, environmental and social impact 4. Prasetia Dwidharma - early stage, SEA only 5. Skystar Capital - early stage, SEA only 6. Kejora Capital - early and growth stage 7. Indogen Capital - post-seed, SEA 8. init 6 - early stage, Indonesia mostly 9. Teja Ventures - early stage consumertech 10. AVSTAR Capital - decentralized finance, web 3.0, gaming #indonesia #venturecapital #vc #vcfirms #startups

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Perhimpunan Bank Nasional (Perbanas)’ Anika Faisal discusses Indonesia's digital banking evolution Read the full article: https://bit.ly/4fJszgc In a recent interview, Anika Faisal, the secretary general of Perbanas and a non-executive director on the board of PT Bank Jago Tbk, shared her perspectives on the state of digital banking, operational resilience and financial stability in Indonesia. Her insights provide a valuable look into the regulatory and operational dynamics shaping the country's banking sector. Faisal outlined the role of Perbanas in supporting the banking industry in Indonesia. She highlighted the organisation's focus on promoting best practices, fostering collaboration among banks, and advocating for regulatory improvements to support innovation, operational resilience and stability. "Regulatory excellence is about creating a stable and strong financial system and market environment," Faisal stated, emphasising the need for a comprehensive perspective in financial regulation. Meet Anika Faisal, Altona Widjaja, Edisono Limin, Indra Utoyo, and other senior banking industry decision makers and practitioners at Finance Indonesia on 12 September 2024. To register now and for more details, visit: https://lnkd.in/gpRDCjfc Foo Boon Ping 胡文彬, TAB Global #DigitalBanking #FinancialInclusion #OperationalResilience #BankJago #Perbanas #Innovation #RegulatoryCompliance #TechInvestments #CustomerExperience #FinancialStability #DigitalLiteracy #Cybersecurity #BankingTransformation #Gojek #FinancialServices #TheAsianBanker #TABGlobal

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🌟 Contributor Spotlight 🌟 Pandu Sjahrir is the founding partner of AC Ventures, a Southeast Asian venture capital firm with US$650 million in assets under management, investing in early-stage startups across Indonesia and ASEAN. He focuses on growth and turnaround companies, with expertise in leadership development, business growth, and optimising capital structures. His article discusses the urgent need for Indonesia and Southeast Asia to shift towards renewable energy sources, particularly in response to the region's rapid digital growth and increasing energy demands. It emphasises the significant opportunities for tech entrepreneurs and investors to capitalise on the untapped renewable energy sector, warning that reliance on fossil fuels is unsustainable and action must be taken immediately. Read it here: https://lnkd.in/dusYBFBT #e27community #e27contributorspotlight #Asia #climatetech 

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With a booming fintech industry and a growing tech startup ecosystem, Indonesia is poised for significant growth. To accelerate this transformation, Bank Indonesia has unveiled the Indonesian Payment System Blueprint 2030 (BSPI 2030). On 11 October 2024, Central Bank of Indonesia in London, with support from Equatorise Advisory, hosted an exclusive Indonesia Fintech Forum Roundtable with Filianingsih Hendra, the Deputy Governor of Bank Indonesia, to discuss the implementation of BSPI 2030. This event brought together industry leaders, regulators, and investors to explore opportunities and challenges in Indonesia's fintech sector. By fostering collaboration between Indonesian 🇮🇩 and UK 🇬🇧 fintech players, the forum aimed to accelerate the development of a robust and inclusive digital economy. Key discussions centred around digital payment innovation, financial inclusion, regulatory frameworks, and cross-border payments. #BSPI2030 #IndonesiaFintech #UKIndonesiaPartnership #DigitalEconomy

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J Trust Bank (PT BANK JTRUST INDONESIA Tbk.) overhauls legacy system Read the full article: https://bit.ly/3zaAvqg #ChoWonJune, director of information strategy and technology at J Trust Bank explained how the bank is tackling the challenges of outdated legacy systems through a comprehensive digital transformation to improve customer service and efficiency in Indonesia. J Trust Bank, formerly known as Bank Mutiara, was acquired by J Trust Co., a Japanese financial services group, in 2014. This acquisition was part of J Trust’s broader strategy to expand its presence in Southeast Asia, particularly in markets where financial sectors were undergoing significant transformations. Bank Mutiara, originally established as a state-owned entity after the Asian financial crisis, was struggling with performance and was placed under the control of the Indonesia deposit insurance corporation, Lembaga Penjamin Simpanan (LPS) until it was acquired by J Trust. The acquisition not only provided the bank with much-needed capital but also brought in expertise aimed at revitalising its operations and enhancing its service offerings. The core issue driving J Trust Bank’s current technological overhaul is the severe limitation of its legacy systems. These systems, which had been in place for many years, had become outdated, leading to significant operational inefficiencies and hindering the bank's ability to grow and adapt to new market demands. Connect with senior banking decision-makers and industry practitioners at Finance Indonesia on 12 September 2024. This year’s theme, Innovation and regulatory excellence: Charting our future in banking, will explore the key trends shaping the industry. For more information, visit: https://lnkd.in/gpRDCjfc   Temenos Foo Boon Ping 胡文彬, TAB Global #DigitalTransformation #FinancialInclusion #CustomerExperience #BankingInnovation #CloudBanking #LegacySystems #MobileBanking #BlockchainTechnology #FinancialServices #SoutheastAsia #BankingSector #RegulatoryCompliance #CustomerEngagement #PersonalisedService #IndonesiaBanking #JTrustBank #Temenos #LPSIndonesia

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With a significant portion of its adult population still underbanked and underserved, Indonesia presents immense potential for digital banks. Our latest study at Mandala Consulting delves deep into various facets of digital banking in Indonesia, covering its economic impact, regulatory environment, and the key challenges faced by digital banks in the country. Gain valuable insights from the latest data and executive perspectives in this dynamic sector. #DigitalBanking #IndonesiaFinance #BankingTech #FintechIndonesia #FinancialInclusion #DigitalTransformation #BankingRegulations #FinancialLiteracy #BankingIndustry #EmergingMarkets #BankingInsights #FinanceTrends #IndonesiaEconomy #TechInFinance #BankingStrategy #BankingSolutions #FinancialServices #DigitalEconomy #FintechInsights #BankingAnalytics

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Indonesia's digital banking sector is on the brink of a transformative journey, with a substantial segment of its adult population still underbanked and underserved. Mandala Consulting comprehensive study delves into the economic impact, regulatory framework, and pivotal challenges encountered by digital banks in this dynamic market. Read this report which uses data from CEIC Data to gain valuable insights from the latest data and executive perspectives in this dynamic sector.   𝗔𝗿𝗲 𝘆𝗼𝘂 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝗶𝗻 𝗖𝗘𝗜𝗖’𝘀 𝗹𝗲𝗮𝗱𝗶𝗻𝗴 𝗮𝗻𝗮𝗹𝘆𝘁𝗶𝗰𝗮𝗹 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀? 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗮 𝗱𝗲𝗺𝗼 𝗼𝗳 𝗼𝘂𝗿 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺: ➡️https://hubs.li/Q02vQcx70 #Indonesia #DigitalBanking

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Indonesia's digital banking sector is on the brink of a transformative journey, with a substantial segment of its adult population still underbanked and underserved. Mandala Consulting comprehensive study delves into the economic impact, regulatory framework, and pivotal challenges encountered by digital banks in this dynamic market. Read this report which uses data from CEIC Data to gain valuable insights from the latest data and executive perspectives in this dynamic sector.   𝗔𝗿𝗲 𝘆𝗼𝘂 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝗶𝗻 𝗖𝗘𝗜𝗖’𝘀 𝗹𝗲𝗮𝗱𝗶𝗻𝗴 𝗮𝗻𝗮𝗹𝘆𝘁𝗶𝗰𝗮𝗹 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀? 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗮 𝗱𝗲𝗺𝗼 𝗼𝗳 𝗼𝘂𝗿 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺: ➡️https://hubs.li/Q02vQcx70 #Indonesia #DigitalBanking

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Panin Financial (PNLF): An epitome of market inefficiency in Indonesia Stock Exchange (IDX). During a light conversation with a bright investor in a corporate event recently, we are being reminded that market inefficiency still exists in IDX, especially in small-cap stocks market segment. One stock picked by the investor is PNLF. We remember have had wrote about PNLF back in 2005-2006. At that time, we gave a Buy rating for PNLF as its fair value (in our opinion) was at IDR250 /share, higher than its market price at around IDR150 /share. That is almost 2 decades ago. As both top and bottom lines have grown significantly over the last 2 decades, so does PNLF's fair value. Bullet points that follow are our flash assessments on PNLF as an equity investor: 1. Panin Financial's balance sheet is rock solid: As of end 1Q24, total equity stood at 27% of total assets, much higher than its finance peers at around 10%-15% on average; 2. Panin Financial's value are mainly sourced from its 60% shares in Panin Daichi Life (a life insurer) and 46% shares in Panin Bank. Both Panin Daichi (net profit at IDR82bn in 3M24) and Panin Bank (net profit at IDR740bn in 3M24) are a very profitable subsidiaries; 3. Both subsidiaries of PNLF have managed to go through many crises in the past, including the '97-'98 multi-dimesional crisis in Indonesia. Both of them are also a player to be reckoned with in their respective industry; 4. At IDR306 /share at the time of this writing, PNLF looks reasonably cheap at earnings yields of some 17%. On shareholders' equity base perspective, PNLF is insanely cheap at adjusted pbv (if we assume fair value of PNBN at IDR1k conservatively) of 0.03x. So all of the points above strongly suggest PNLF is a mispriced stock. So what is the fair value of PNLF? Let's say PNLF deserves an equilibrium earnings yield of 10% (=10x earnings multiple), which is warranted by considering its 2 subsidiaries' good track records and business potentials, fair value of PNLF should be at least IDR500 /share. The fair value will be much higher on equity base. MAG* may be crazy. *Mighty all gods

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Hypothetical scenario: Digital money company from US plan to expand in Indonesia…Things to be considered: how is the current condition in Indonesia (shops, taxi, street vendor, transaction volume, common characters in each region, actual banking), device/tool for transaction, strategy to attract customers and minimize risk, benefit, common fraud case.

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*[Samuel Economics Update: BI 7-Day Repo Rate]* _17 July 2024_ ■ In line with consensus' estimate, Bank Indonesia decided to keep its benchmark interest rate unchanged at 6.25% during the July meeting, deferring our expectation of a potential hike into next month. We observe a good opportunity for the central bank to raise rate by another 25 bps in July-August period, leveraging on the positive momentum following the softer US inflation announcement, which we believe could bring the rupiah closer to IDR 16,000 level against the USD. ■ The USD 140 billion in forex reserves and the 50th consecutive trade balance surplus provide a substantial cushion for BI to maintain the IDR. However, we anticipate potential challenges ahead. ■ Another rate hike consideration ahead is based on the narrow gap between Indonesia's rates and the Fed's fund rate, coupled with the expectation that the current account deficit would expand in the second quarter, potentially reaching USD 2.8 billion due to thinner trade surplus, particularly on weaker commodity prices as the Chinese economy currently experiences a slowdown. ■ ⁠⁠Finally, given that we believe the Fed may not move to lower rates this year, BI's further rate hike would be justified by the projected widening of Indonesia's twin deficits: budget and current account to 2.7% and 0.7% respectively. Fithra Faisal Hastiadi, Ph.D Senior Economist *SSI RESEARCH* (Disclaimer on)

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*[Samuel Economics Update: 3Q24 GDP Growth]* _5 November 2024_ ■ Indonesia's economy exhibited a tempered growth rate of 4.95% year-on-year (yoy) in the third quarter of 2024, in line with our projection (4.94%) albeit slightly below market expectations of 5.0%. This modest expansion, down from 5.05% in the previous quarter, underscores a slowdown, marking the weakest GDP growth since Q3 of 2023. Private consumption, a primary driver of Indonesia’s economic growth, remained nearly stagnant at 4.91% compared to 4.93% in Q2, reflecting subdued household spending despite stable macroeconomic conditions. Contracted PMI, persistent deflation, and low consumer confidence index have become evidence of this restrained phenomenon. ■ Trade dynamics were mixed, with exports growing 9.09%—an improvement over the previous quarter's 8.28%—yet falling short of the surge in imports, which accelerated to 11.47% from 7.79%. This widening gap indicates increased domestic demand for foreign goods and services amid the recent appreciation of the IDR. While this suggests strong consumption and investment activity, the IDR has depreciated again, as higher imports applied pressure on the trade balance. On a positive note, fixed investment grew 5.15%, up from 4.43%, pointing to investor confidence and heightened activity in infrastructure and capital-intensive sectors. Government spending also rose significantly, expanding 4.62% against previous increase of 1.42%, showcasing fiscal stimulus efforts aimed at supporting growth amid external and domestic challenges. ■ Sector-wise, production showed mixed results. Notably, there was a deceleration in sectors crucial to the services industry, such as transportation, which grew at a slower rate of 8.64% compared to 9.56% in Q2, and communications, which slowed to 6.86% from 7.66%. Other key sectors, including wholesale and retail trade, insurance and financial services, as well as healthcare, also experienced slower growth. Wholesale and retail trade edged down to 4.82% from 4.86%, and financial services grew just 5.49%, a notable decline from previous quarter’s 7.90%. Healthcare services saw similar downtrend, expanding 7.64% compared to 8.56% previously. These shifts reflect moderating activities in consumption-driven sectors, which have been instrumental in sustaining Indonesia's economic momentum over recent years. ■ ⁠Looking ahead, we expect the economy to grow 4.97% for the entire year, considering the anticipated low government spending in Q4 due to bureaucratic adjustments, which in turn, is leading to sustained low consumption. In 2025, we expect GDP growth to remain relatively flat from current levels on global economic slowdown coupled with the need for enhanced local coordinated efforts from new ministers and ministries to tackle both domestic and overseas challenges. Fithra Faisal Hastiadi, Ph.D Senior Economist *SSI RESEARCH* (Disclaimer on)

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Misappropriation of assets can silently drain a company’s resources, leading to financial loss and reputational damage. From inflated payrolls to stolen inventory, the risks are real. Learn about notable cases in Indonesia and discover how you can protect your business with strong internal controls and fraud prevention strategies. Secure your assets with NawaData’s comprehensive anti-fraud solutions. For more information about NawaData, please check out https://nawadata.com/ #MisappropriationOfAssets #FinancialCrime #BusinessSecurity #FraudPrevention #NawaData #MakeITSimple

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