Indonesia's Telkom To Set Up Joint Venture With EBay
April 16 2012 - 8:43AM
Dow Jones News
Telekomunikasi Indonesia (TLKM.JK, TLK), or Telkom, is set to
form a joint venture with eBay Inc. (EBAY) to tap into the emerging
e-commerce business in Southeast Asia's biggest economy, Telkom's
chief said Monday.
Rinaldi Firmansyah, chief executive, said in a statement that
both companies have signed an agreement to form a joint venture
named PT MetraPlasa. He didn't elaborate on the setup capital and
stake proportion held by each companies.
Firmansyah cited a survey by Frost & Sullivan that said
Indonesia's e-commerce transactions' value was at $1 billion at the
end of 2011. Research by MarkPlus showed the number of Internet
users in the Southeast Asian country increased by 32% in 2011 to at
least 55 million, "which shows huge potentials for e-commerce in
Indonesia," Firmansyah added.
Telkom, 53.24% owned by the Indonesian government, posted a
20.8% increase in its revenue from data and Internet services in
2011.
With its relatively young population, increasing wealth, and a
technologically savvy middle class, Indonesia is attracting
investment from Internet-related companies. Google Inc. (GOOG) late
last month opened an office in Jakarta.
-By Andreas Ismar, Dow Jones Newswires; 62 21 39831277;
andreasismar.sandiwan@dowjones.com
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