Daily Brief Indonesia: Sino-Ocean Group, Fazz Financial, Uena and more

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• China SCE
• CIFI Holdings
• Fosun International
• Sino-Ocean Service
• Vedanta Resources

• Fazz claims it saw US$10B in annualised transaction volumes over the past year and looks to double the volumes in the next 12 months
• Fazz, a digital financial services group dual-headquartered in Singapore and Indonesia, has announced a US$100 million Series C funding round.
• Fazz will use the funds to grow the business and expand its teams in Singapore, Indonesia, Malaysia, Vietnam and Taiwan from 800 to 1,400.

• Food delivery is the digital sector with the highest adoption in Southeast Asia. The pandemic gave the segment a huge boost, as people were forced to stay at home.
• Local food startup Uena tried to solve this by building a network of online kitchens that can deliver these meals directly to customers.
• It targets lower and middle-income segments, such as office workers, university students, convenience store employees, and couriers of food delivery apps.