The tally of recognized startups and acquisitions, burgeoning to 84,012 in 2022 from a mere 452 in 2016, is a testament to the positive impact of investment incentives and simplified business regulations, as highlighted by the Economic Survey 2022-23. As we embrace 2023, the Southeast Asian startup landscape is abuzz with anticipation surrounding cross-border acquisitions […]

Indonesian coal mining firm TBS Energi Utama Tbk (TOBA), has successfully acquired Asia Medical Enviro Services, a leading medical waste treatment startup based in Singapore. The transaction was carried out through one of TOBA’s subsidiaries. With this move, TBS Energi Utama plans to diversify its business portfolio beyond coal mining. Asia Medical Enviro Services, Singapore’s […]

Japanese financial giant Mitsubishi UFJ Financial Group (MUFG) has announced its plans to acquire Mandala Multifinance, an Indonesian auto loan provider, for 7 trillion rupiahs ($467 million). As part of the deal, MUFG’s subsidiary, MUFG Bank, will hold a 70.6% stake in Mandala Multifinance, while Adira Dinamika Multi Finance, a subsidiary of Bank Danamon, will […]

Indonesia’s leading e-commerce company Bukalapak has acquired a majority stake in Southeast Asia’s leading price comparison platform, iPrice. The move allows iPrice to accelerate its growth by leveraging the synergies between the two groups. In recent years, Bukalapak has shifted its focus from competing head-to-head with other marketplaces to building or acquiring niche marketplaces and […]