Last year Lazada and Tokopedia were the two most successful e-commerce platforms in Indonesia in terms of visitor numbers. These two giants are followed by Bukalapak and Blibli. Meanwhile, Elevenia (owned by the Salim Group) fell outside Indonesia's top 5 e-commerce platforms. While it ranked third at the start of 2017, Elevenia ended 2017 at 7th position.
Update COVID-19 in Indonesia: 64,958 confirmed infections, 3,241 deaths (6 July 2020)
6 July 2020 (closed)
USD/IDR (14,446) -14.00 -0.10%
EUR/IDR (16,385) +81.74 +0.50%
Jakarta Composite Index (4,988.87) +15.07 +0.30%
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Today's Headlines Alibaba
Soon foreign investors will be allowed to control a full 100 percent stake in electronic commerce (e-commerce) businesses in Indonesia. Currently, the Indonesia Investment Coordinating Board (BKPM) is completing a new regulation that streamlines the latest regulatory changes in this industry (this regulation is expected to be completed in June 2016). Earlier this year, Indonesian President Joko Widodo signed a decree that opens (more wider) foreign ownership in various industries, including Indonesia's e-commerce industry.
The world is about to see the largest initial public offering (IPO) ever as China’s e-commerce company Alibaba may raise over USD $24 billion through its listing on the New York Stock Exchange on 18 September 2014, thus exceeding the value of IPOs of the Agriculture Bank of China (USD $22.1 billion), and the Industrial & Commercial Bank of China (USD $21.9 billion). Alibaba’s market capitalization, valued at about USD $162.7 billion, is the third-largest after Google (USD $400 billion) and Facebook (USD $201 billion).
Latest Columns Alibaba
Rumors are that China's e-commerce giant Alibaba Group Holding Ltd is interested to expand its business in Indonesia, attracted by the nation's per capita GDP growth as well as rising smartphone and Internet penetration. Alibaba may invest in Indonesian online shopping facilitator Tokopedia. Tokopedia, established in 2009 by William Tanuwijaya and Leontinus Alpha Edison, is one of Indonesia's biggest online marketplaces.
The USD $1 billion acquisition of Southeast Asia-based e-commerce platform Lazada Group SA by China's e-commerce giant Alibaba Group Holding Ltd may give rise to a larger flow of Chinese products into Indonesia. Lazada is an e-commerce platform that operates in Indonesia, Malaysia, the Philippines, Thailand and Vietnam. Southeast Asia is an interesting market for Alibaba as only 3 percent of retail sales are conducted online in this region, implying huge growth opportunities. Meanwhile, Alibaba has been eager to expand abroad as growth in China has been slowing.
In line with the trend on other Asian stock indices, the benchmark stock index of Indonesia (Jakarta Composite Index, abbreviated IHSG) fell on Monday (22/09) amid profit taking after three days of gains. Not even the appreciating rupiah exchange rate and net buying of foreign investors (IDR 26.6 billion) were able to push Indonesia’s index into the green zone. The IHSG declined 0.15 percent to 5,219.80 points. All sectors on the Indonesia Stock Exchange (IDX) fell except for the consumer goods and finance sectors.
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