In today’s briefing:
- PT Surya Citra Media (SCMA IJ) – Catalytic Converter
- Sirclo Banks US$10.5M to Expand in Indonesia
PT Surya Citra Media (SCMA IJ) – Catalytic Converter
- PT Surya Citra Media had strong start to the year in terms of audience share but advertising revenues were slightly disappointing with a poor showing for the overall market.
- Advertising revenues were impacted by a slowdown in e-commerce activity but overall the market adjusted downwards with 2Q expected to be slow but with a strong recovery expected in 2H2023.
- PT Surya Citra Media continues to invest in original content but less aggressively, with cashflows expected to be stronger in 2023. There are also potential catalysts ahead from listing subsidiaries.
Sirclo Banks US$10.5M to Expand in Indonesia
- Indonesian e-commerce enabler Sirclo Group has secured US$10.5 million in a Series C funding round from Vertex Ventures Southeast Asia and India.
- This takes the company’s total capital raised to approximately US$100 million, according to VentureCap Insights.
- Founded in 2013 by Brian Marshal, Sirclo provides omnichannel commerce solutions. It offers two main categories of solutions: entrepreneur solutions and enterprise solutions.
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