Asia Resource Minerals (ARMS) , the Indonesia-focused miner formerly known as Bumi Plc, needs to refinance its debts soon in order to survive, its accountants said on Thursday, as the firm posted a wider first-half underlying loss.
Tags: Indonesia
Tan in talks to sell ARMS stake to repay Standard Chartered
Indonesian businessman Samin Tan is in talks to sell assets including all or part of his stake in Asia Resource Minerals (ARMS) to help repay Standard Chartered and Raiffeisen close to $1 billion.
Indonesia's Bakrie Telecom to merge network business with Smartfren
Indonesian telecommunication operators PT Bakrie Telecom Tbk and PT Smartfren Telecom Tbk will merge their network operations in a deal that will make Bakrie Telecom one of Smartfren's shareholders.
Coca-Cola to buy 29 percent stake in Indonesian unit for $500 million
Coca-Cola Co (KO.N) will help out Australian affiliate Coca-Cola Amatil Ltd (CCL.AX) by taking a minority stake in a struggling Indonesian unit for $500 million.
SoftBank leads $100 million investment in Indonesian ecommerce firm Tokopedia
SoftBank Corp announced Wednesday it will lead a $100 million investment round in Indonesian ecommerce giant PT Tokopedia, the Japanese mobile carrier's third investment overseas under Vice Chairman Nikesh Arora.
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As negotiations to resolve an increasingly bitter dispute over Indonesian mining rules teetered on the brink of collapse, the chairman of Freeport-McMoRan Inc James "Jim Bob" Moffett flew to Jakarta for last-ditch talks.
Mining tycoon Andrew Forrest acquired Perth, Western Australia-based beef processor and exporter Harvey Beef for an undisclosed amount through his company Minderoo, and announced expansion plans for the newly-acquired firm.
Singapore City, Singapore-based same-day hotel booking app In2Nite raised $2.8M in a venture round led by IDG Ventures and other undisclosed investors to expand its reach across the Asian market.
The territorial dispute between China and Japan has caused the latter to pull out its investments from the country and redirecting its focus to other South East Asian countries where it has already funded companies with USD22.8 billion last year.
Online video platform Viddsee launched its new site Viddsee BUZZ to promote independent films from Hong Kong, Japan, Singapore, Malaysia, Cambodia, Thailand, and the Philippines on social media and help them go viral.
Rocket Internet's Lamudi has received USD7 million funding from Tengelmann Ventures and other new investors left undisclosed, reported TechCrunch.
Amsterdam, Netherlands-based business services provider TMF Group acquired Jakarta, Indonesia-based payroll and HR administration services provider PT Tass Axia Solusi for an undisclosed amount to expand its client base.
Philippine crowdfunding site Medifund turns non-profit to help medical students finish their studies
Philippines-based crowdfunding site Medifund turned non-profit to help students in developing countries pay for the cost of their schooling and to encourage more women to enter the medical profession.
Indonesia-born and New York, US-based fashion startup Project Shoe lets women personally customize their shoes using its e-commerce platform and have the order shipped anywhere for free.
