In today’s briefing:
- GoTo: Thoughts on the New Tokopedia/TikTok Partnership
- AKR Corporindo (AKRA IJ) – Holistic Industrial Proxy
GoTo: Thoughts on the New Tokopedia/TikTok Partnership
- GoTo Gojek Tokopedia Tbk PT (GOTO IJ) announced on Monday a partnership with TikTok which would combine former’s e-commerce biz Tokopedia with TikTok Shop Indonesia.
- TikTok was forced to close its e-commerce services in Indonesia following regulations banning online shopping on social media platforms in September citing protection of smaller merchants and data privacy.
- It seems TikTok will certainly be a winner if the deal is approved but surprised at GoTo’s move to retain a minority stake given e-commerce business is nearing profits.
AKR Corporindo (AKRA IJ) – Holistic Industrial Proxy
- AKR Corporindo (AKRA IJ) recently hosted an analyst meeting where it provided some positive guidance for FY2024, with projections of double digit net profit growth with growth across all segments.
- The core trading and distribution business is expected to see positive growth in 2024 with the real kicker to come from its JIIPE industrial Estate plus recurrent income from utilities.
- AKR Corporindo (AKRA IJ) is an increasingly holistic play on Indonesia’s growth through its fuel and chemical distribution, which is being hosted by smelters and the EV battery complex.
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