Indonesia Economy and Industry

[Indos]

ID Food Seeks to Finish Stunting Aid Program This November​

Monique Handa Shafira
July 2, 2024 | 2:18 pm


Jakarta. ID Food, the state-owned food holding, is planning to finish distributing the government's anti-stunting assistance in all 7 targeted provinces by this November.

Indonesia is seeking to lower the national stunting rate to 14 percent in 2024. To this end, ID Food --in partnership with the National Food Agency (Bapanas)-- is distributing food assistance for families at risk of stunting in hopes that they can have better access to more nutritious meals. Each food package also consists of chicken meat and eggs. ID Food also works alongside the state-run postal service Pos Indonesia to deliver the packages to the 7 targeted provinces, which include the populous West Java.


“We are aiming to close the year by distributing [food assistance] to 1.4 million families. But we will try to speed up the distribution,” ID Food’s president director Sis Apik Wijayanto said on the sidelines of the Investor Daily Roundtable at Hutan Kota by Plataran in Jakarta on Tuesday.


“We hope that we can finish the distribution in the 7 of the targeted provinces by November,” Apik said.

As of Monday, ID Food has distributed 243,240 meal assistance packages.

The assistance will go to 403,593 families in West Java and 374,197 others in East Java. ID Food will also roll out aid for 345,514 families in Central Java, 92,654 households in Banten, and 20,633 others in West Sulawesi. The beneficiaries in North Sumatra total 132,360 families. As many as 73,068 families at risk of stunting in East Nusa Tenggara will get the chicken meat-egg package.

ID Food Seeks to Finish Stunting Aid Program This November

As of Monday, ID Food has distributed 243,240 meal assistance packages.

jakartaglobe.id

 

[Indos]

No Longer Stuck: Lotte Chemical’s Cilegon Plant to Start Production Next March​

Jayanty Nada Shofa

July 3, 2024 | 7:12 pm



Jakarta. Investment Minister Bahlil Lahadalia announced Wednesday that the Cilegon petrochemical project by South Korean giant Lotte Chemical will start production next year after a long delay.

Lotte Chemical is investing billions of dollars to build a petrochemical complex in the Banten city of Cilegon. The project got stuck for years due to overlapping land issues with the state-owned steelmaker Krakatau Steel. Lotte Chemical held the groundbreaking ceremony for the plant in 2018. Fast forward to now, the plant -- which will likely help Indonesia cut its chemical imports -- is about to finish construction.

“Lotte Chemical has invested [almost] $4 billion in the Cilegon plant. We all know how the project once stalled in 2016, but now the [construction] is nearing completion,” Bahlil said in Karawang on Wednesday.

“So I expect the [Lotte Chemical] plant to start producing by March 2025,” Bahlil said.

In 2019, Lotte Chemical signed a memorandum of understanding to settle the overlapping land problem with Krakatau Steel. Lotte Chemical was building the factory on land belonging to the steel producer.

Data shown during Bahlil’s remarks showed that the actual construction works began in 2022. The $3.9 billion project is now 90 percent complete. As of the first quarter of 2024, the project has used up 79.6 percent of the investment. The plant will produce a total of 17 products.

Last September, Jokowi visited the Lotte Chemical Indonesia plant in person. Jokowi said at the time that 70 percent of what the plant produces would go into meeting the domestic demand, while the remaining 30 percent would go into exports.

According to Chief Economic Minister Airlangga Hartarto earlier this year, the Lotte Chemical Indonesia plant will produce 1 million tons of ethylenes in 2025. The annual output will also include 520,000 tons of propylenes and 250,000 tons of polypropylene. The project is expected to create job opportunities for up to 15,000 people during the construction, and will likely hire around 1,300 people once it starts commercial operations.

No Longer Stuck: Lotte Chemical’s Cilegon Plant to Start Production Next March

Lotte Chemical's Cilegon project got stuck for years due to overlapping land issues with Krakatau Steel.

jakartaglobe.id

 

[Indos]

Top spender Indonesia accounted for over half of online purchases in S-E Asia in 2022: Study​

Indonesia topped online spending for Southeast Asia in 2022, accounting for more than half of the region’s purchases on digital platforms, according to a report by Singapore-based venture firm Momentum Works.

The report analysed spendings across Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Total Gross Merchandise Value (GMV) in the region, which refers to the value of goods sold via e-commerce platforms, hit US$99.5 billion, up from US$87.1 billion in 2021 and US$54.8 billion in 2020. Southeast Asia’s total GMV is projected to increase to US$175 billion in 2028.

Indonesia accounted for 52 percent of the figure in 2022, with GMV totalling US$51.9 billion.

Shopee is the most commonly used e-commerce platform in the region, with total GMV in 2022 at US$47.9 billion. TikTok, meanwhile, has been gaining ground in the region through TikTok Shop. It reportedly aims to more than triple its GMV in the region.

Going forward, online spending could be impacted by various factors such as the resumption of retail shopping, inflation, rising interest rates and the rise in commodity prices, the report states.

Description​

• Total ecommerce platform GMV in Southeast Asia grew 1.8 times from 2020 to 2022, totalling ~ US$ 100B;
• Shopee and Lazada are the top 2 ecommerce platforms in most countries, except Indonesia
• Indonesia contributes 52% of the region’s GMV; while Singapore and Malaysia lead in GMV per capita;
• Southeast Asia’s total GMV is projected to be US$175 billion in 2028, under a normal scenario with the potential of upside to US$232 billion under the best case scenario.

Southeast Asia’s ecommerce sector endured strong headwinds in 2022. Despite all these, growth and competition continue, with the total GMV of Southeast Asia’s 9 leading ecommerce platforms reaching US$ 99.5 billion in 2022, 1.8 times that of 2020 – the first year of the pandemic.

Purchase Momentum Works’ Ecommerce in Southeast Asia 2023 report for the breakdown of these numbers, and more importantly the insights connecting the dots behind.

Ecommerce in Southeast Asia 2023 | Momentum Works

Total ecommerce platform GMV in Southeast Asia grew 1.8 times from 2020 to 2022, totalling ~ US$ 100B; Shopee and Lazada are the top 2 ecommerce platforms in most countries, except Indonesia Indonesia contributes 52% of the region’s GMV; while Singapore and Malaysia lead in GMV per capita...

momentum.asia

 

[Indos]

Indonesian agritech firm eFishery hits unicorn status with $108m series D​

eFishery co-founder and CEO Gibran Huzaifah / Photo credit: eFishery

Grace Priscilla Teo · 25 May 2023 · 2 min read


Indonesian agritech startup eFishery has raised US$108 million in series D funding, pushing its post-money valuation to US$1.3 billion, according to VentureCap Insights, which tracks regulatory filings.

The latest round is led by 42xfund and it saw participation from existing investors Northstar Group and SoftBank Vision Fund II.

EFishery last raised US$90 million in a series C funding round in January 2022.

Funding details​

• Funding amount: $108,000,000
• Lead investors: 42XFund
• Other investors: Northstar Group, SoftBank Vision Fund
• Stage: Series D
• Valuation: $1,300,000,000

In a previous exclusive interview with Tech in Asia, eFishery co-founder and CEO Gibran Huzaifah said that the company aims to have 1 million fish farmers as members of its “digital cooperative” by 2025.


Founded in 2013 in the city of Bandung, the startup entered the market with an IoT device called eFishery Feeder, which enables automated feeding in fish and shrimp farms.

Other revenue sources include eFishery Mall (a marketplace for selling fish and shrimp feed), eFishery Fresh (a platform that sells fresh fish and shrimp to B2B customers), and Kabayan (a pay-later program for fish farmers).

eFishery has declined request from Tech in Asia for official comments.

Tech in Asia - Connecting Asia's startup ecosystem​

www.techinasia.com