Daily Brief Indonesia: Bukalapak, NFC Indonesia and more

• Bukalapak (BUKA IJ) announced 1Q2023 results with encouragingly strong headline growth coupled with even stronger revenues as take rates increased, with its marketplace being the standout driven by specialty verticals. 
• Mitra Bukalapak also registered solid growth, with increasing active Mitra’s with greater frequency, higher take rates, and an improvement in contribution margin which should turn positive over the next 2Qs. 
• Take rates should continue to improve as the specialty businesses pick up momentum, and once the Mitra business turns CM positive, growth in that segment will also accelerate.

For our next Corporate Webinar, we are glad to welcome NFC Indonesia’s Group Head of Corporate Finance & Strategy, Stanley Tijandra.

In the upcoming webinar, Stanley will share a short company presentation after which, he will engage in a fireside chat with Smartkarma Insight Provider, Angus Mackintosh. The Corporate Webinar will include a live Q&A session.

The Corporate Webinar will be hosted on Tuesday, 09 May 2023, 17:00 SGT.

About NFC Indonesia

PT NFC Indonesia Tbk (IDX: NFCX), a subsidiary of PT M Cash Integrasi Tbk (IDX: MCAS), is a digital customer experience company that offers a complete suite of services aimed at assisting the retail industry in improving customer engagement and competitiveness, in Indonesia’s growing economic biosphere, through its five main initiatives: Digital Product Aggregator, Digital Cloud Advertising, Content & Entertainment, Digital Wholesale, and Clean Energy.