This weekly newsletter chronicles top digital themes and trends playing out in SE Asia, especially Indonesia. We will decode policy and regulatory changes affecting digital economy sectors, crunch earnings data of top players, track developments related to gig economy workers and attempt to piece together ecosystem buildouts in some of the fastest-growing, venture-backed plays. You can access the previous editions of the Vantage Point weekly posts here.
Executive Summary
- Alfamart’s convenience store push is on
- Bank Neo Commerce rights issue good for future growth
- Akseleran’s IPO will help catapult the platform to next level
Alfamart’s convenience store push is on
Indonesian retailer Sumber Alfaria Trijaya, better known as Alfamart locally, is aggressively adding more Lawson convenience stores and also the larger-format Alfamidi stores to its chain, as the company’s management sees disposable incomes increasing in the country.
The target is to add 200 Alfamidi outlets and 500 Lawson outlets, signifying the company’s push into the convenience store space. The company will also increase the number of Lawson stores within Alfamidi stores, which will provide customers with greater in-store choice.
To fuel the expansion, Midi Utama Indonesia, in which Alfamart owns an 89.43% stake, has announced a 1.24 trillion rupiah ($82 million) rights issue. The company will issue 4.61 billion new shares, or 13.79% of its share capital, priced at 270 rupiah apiece.
