Dear reader,
The establishment of Danantara, Indonesia’s ambitious national investment agency, signifies a key shift in how the nation intends to manage its substantial state-owned assets.
President Prabowo Subianto’s vision draws inspiration from successful sovereign funds like Singapore’s Temasek, aiming to streamline and enhance the profitability of Indonesia’s SOEs while attracting global investment. By consolidating state-owned enterprises across diverse sectors, Danantara could become a powerhouse, reshaping Indonesia’s investment landscape.
However, Indonesia must heed lessons from Malaysia’s 1MDB scandal, prioritising transparency and independence from political interference. The success of Danantara hinges on strict adherence to professional management principles and the appointment of executives with credible track records.
Analysts are right to highlight the need for a robust legal framework to support this agency, which could ensure its operational independence and foster investor trust.
Although overlaps with the Indonesia Investment Authority (INA) raise some concerns, Danantara’s envisioned autonomy could set it apart, focusing purely on profit-driven state investment.
If managed with integrity and strategic insight, Danantara could emerge as a pivotal force in advancing Indonesia’s economic growth, harnessing its nearly trillion-dollar asset target to drive sustainable development and strengthen Southeast Asia’s largest economy.
Sainul,
Editor.
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NEWS & VIEWS
Indonesia to launch Temasek-style fund amid transparency concerns
The country will soon launch Danantara, a national investment agency to overhaul multibillion-dollar state-owned assets; Some observers have raised concerns about potential overlaps with the sovereign wealth fund, the Indonesia Investment Authority.
Wavemaker launches US$60M fund to bridge Series B gaps in SEA
With a hard cap of US$100M, Wavemaker Growth Opportunities Fund will invest in high-potential startups in the enterprise, deeptech, and sustainability sectors.
Sea Group’s Q3 revenue up 30.8% to US$$4.3B
The total gross profit for the quarter was US$1.9B, also up 29.1% y-o-y; Total net income was US$153.3M, as compared to total net loss of US$144M a year ago.
MAS launches US$500M in matching concessional funding to decarbonise Asia
The Singaporean regulator said that Financing Asia’s Transition Partnership (FAST-P) is a blended finance initiative which brings together international public, private and philanthropic partners to support Asia’s decarbonization and climate resilience.
AnyMind’s Q3 revenue surges 53% on strong D2C, e-commerce platforms growth
The group’s gross profit for the quarter followed a similar upward trajectory, increasing by 46% YoY to US$30M; The D2C and e-commerce platforms segment achieved a 65% YoY increase in gross profit.
Turing Space nets US$3M to expand digital identity solutions globally
The lead investor is Profederal; Turing Space aims to streamline certifications across various industries by leveraging blockchain to build a borderless digital trust network.
South Korean police bust US$228M crypto scam, 215 arrested
The Gyeonggi Nambu Provincial Police announced Wednesday that these individuals include the alleged leader of the syndicate which promised large returns to approximately 15,000 investors.
Founders Factory launches in Singapore to bolster SEA deep tech, climate tech ecosystem
The expansion of Founders Factory marks a strategic move to bolster regional startup ecosystem, creating new opportunities.
Malaysia’s DF Automation & Robotics raises US$1.85M funding
Investors include Vynn Capital, MTDC, and Leave a Nest Capital; DF Auto has the capability to design and manufacture autonomous mobile robots for various industries.
Collektr bags US$1.3M to expand livestream collectibles platform across APAC
The investors include AC Ventures Malaysia, The Hive Southeast Asia, and Creador Foundation; The platform specializes in high-demand categories like trading card games, comics, sneakers, handbags, and art.
Indosat, GoTo launch Sahabat-AI: Indonesia’s open-source LLM
It is specifically designed for Bahasa Indonesia and its local languages; This project will advance the country’s digital sovereignty, preserving its linguistic heritage, and unlocking new pathways for socio-economic growth and innovation.
Dossier secures funding to accelerate AI-powered compliance solutions for emerging markets
The investor is nVentures: Dossier has developed an AI-powered risk operating system initially focused on anti-money laundering and customer screening.
Disrupt Health invests in DiaMonTech’s non-invasive glucose monitoring tech
The fund will provide DiaMonTech connections with healthcare experts across Southeast Asia and facilitate its entry into the region.
US-based Hemisphere Ventures expands into Southeast Asia
The VC firm has opened an office in Singapore; Hemisphere makes early-stage investments in space, cybersecurity, biotech, nanotech, drones, robotics, and other frontier technologies; Chip Whittemore will lead Hemisphere’s Singapore operation.
FEATURES & INTERVIEWS
High-profile startup failures in Southeast Asia: What went wrong?
In the past five years, failures in the region have been led by a combination of capital scarcity, reduced product demand, and governance issues.
Building Malaysia’s digital future: Ir. Wan Murdani on MDEC’s ambitions with Ascent and CCV
Over the next three years, MDEC aims to facilitate the development and investment of 20-30 startups, strongly emphasising scalable business models.
Growth made possible: Addressing challenges faced by early stage startups in SEA
The high failure rate underscores the need for a systematic framework to accelerate early-stage startups towards a proven market opportunity.
Echelon PH 2024: Beryl Li on YGG’s integration of AI and blockchain for the future of work
YGG redefines work in the Philippines through AI, blockchain, and gig economy principles, creating global economic opportunities.
DANA’s Vince Iswara: ‘Fastest way to financial inclusion is through frictionless accessibility’
The DANA Indonesia CEO also explains the psychological barrier that prevent underbanked communities in Indonesia from accessing services.
Echelon Philippines 2024: Strategies for startups entering Southeast Asia’s dynamic markets
Unlock the potential of Southeast Asia’s markets for startups by exploring the strategic advantages of key nodes and hubs in the region.
Echelon Philippines 2024: The next horizon for e-commerce entrepreneurs
Explore the evolution of e-commerce in Southeast Asia, with a focus on success stories from the Philippines.
FROM THE ARCHIVES
How to drive business innovation with AI-powered data analytics
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How to unlock the potential of conversational commerce in Asia Pacific
Latest research: APAC companies boost cloud investments for enhanced customer experiences and operational efficiency.
How machine learning really impacts us in our daily lives
From the health perspective, machine Learning can not only see the hidden characteristics of genomics data, it can also assist with diagnosis.
Why all leaders need to understand the impact of modern observability
Providing a view of the genuine business value of observability demands dedicated time and collaborative efforts across the organisation.
The canary in Singapore’s retail coal mine is ‘kiasu’
In Singapore’s retail scene, kiasu shoppers signal the need for business agility in the rapidly changing socio-economic landscape.
How edutech is solving the global teacher’s crisis
What happens when a teacher is not given the optimal environment to transfer knowledge? They leave the system due to a lack of support?
Edutech is opening up opportunities, but we need to get it right
For edutech to be truly transformational—the industry needs to urgently address a couple of things. Find out what.
How to tackle the biggest challenge for hyper-growth tech startups today
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Preparing kids for the future of work by asking founders the skills they hire for
A key question I get is If kids can learn to code, why can’t kids learn first principles thinking? Or clear communication? Or self-awareness?
The inevitable digitalisation of education and what educators really need
Beyond the ability to deliver lessons virtually, it is important to replicate the social aspect in a traditional classroom.
THOUGHT LEADERSHIP
Why security shouldn’t take a backseat for startups
Discover why security is essential for tech startups, as neglecting it can harm brand reputation and customer trust.
Why the Fed’s 2 per cent inflation target is outdated and harmful to today’s economy
Explore the origins and impact of the Fed’s two per cent inflation target. Is it still relevant in today’s global economic landscape?
From 5G to AI: Why Southeast Asia’s tech boom can’t survive without liquid cooling
The demand for faster, more powerful data processing will only intensify as AI, 5G, and digital services continue to evolve.
How video production can boost your brand’s reach
Video production is essential for brand visibility, driving customer engagement and purchase decisions across platforms like YouTube and Instagram.
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Image Credit: 123RF.
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