Charoen Pokphand Indonesia, the largest producer of poultry feed, day old chicks and processed chickens in Indonesia, will not acquire convenience store (franchise) 7-Eleven from Modern Putra Indonesia, a subsidiary of Modern Internasional. On Monday (05/06) Modern Internasional said it had scrapped the deal while both parties had earlier signed a business acquisition agreement, in April 2017, regarding the sale of the 7-Eleven franchise for IDR 1 trillion (approx. $75.2 million).

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One of Indonesia's leading cellular services providers, XL Axiata, may sell part of its stake in online marketplace Elevenia to collect new funds for expansion of this e-commerce platform. However, there is also another option. XL Axiata could also decide to use funds from its internal cash reserves. Dian Siswarini, President Director of XL Axiata, said a decision will be taken within the next two months.

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The main question today is how markets in Asia will respond to the terror attacks in London and the weaker-than expected US jobs report, both occurring at the end of last week when Asian markets had already closed. Interestingly enough, the bleak US employment data did little to dent investor sentiment in the USA at the end of last week. The three key indexes on Wall Street all rose on Friday, moving closely to record highs.

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On 4 June 2017, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website over the last seven days. Most of the topics involve economy-related matters such as crude palm oil, the retail sector, Samurai bonds, inflation, manufacturing activity, cement, the banking sector, and more.

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