In today’s briefing:
- Telekomunikasi Indonesia (TLKM IJ) – Increasingly Digital
- ParagonCorp Arm Pours Funding into Indonesian Shariah Fintech Firm
Telekomunikasi Indonesia (TLKM IJ) – Increasingly Digital
- Telekomunikasi Indonesia (TLKM IJ) produced what looked like a decent set of 9M2022 numbers as it seeks out its future digital reincarnation.
- Data continues to dominate revenues, making up 81% of Telkomsel revenue, with Indihome becoming increasingly important at nearly 20% of total revenue, with data centres set to become increasingly important.
- The recent sell-off looks more to do with year-end liquidity flows than fundamentals with valuations looking increasingly attractive.
ParagonCorp Arm Pours Funding into Indonesian Shariah Fintech Firm
- Alami, an Indonesia-based Shariah fintech startup, has secured an undisclosed amount in a capital injection from Paragon Beneva Investama, an investment arm of local cosmetics firm ParagonCorp.
- Founded in 2018, Alami is a peer-to-peer lender that provides invoice financing to MSMEs in Indonesia.
- The company has disbursed over 3 trillion rupiah (over US$191 million) to fund over 10,000 MSME projects across various strategic sectors in the country.
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