Lippo Group Provides Funding for Tencent

Lippo Group reports a funding for China's tech giant company Tencent. The value has reached $44 million or about Rp628 billion. Quoted from Kompas, Rudy Ramawy, Lippo Group's Director, said that Tencent investment consists of shares and equity-linked notes (ELNs). The investment was made by Lippo's subsidiary in Hong Kong.

"The investment is highlighting Lippo's commitment in digital transformation and investment in the fourth industrial revolution," he explained.

Currently, Tencent is China's first company which market capitalization has succeeded through $500 billion in the last November and placed as one of the biggest tech company worldwide.

Tencent is the owner of WeChat and listed as the shareholder in several top-tier digital companies, such as Snapchat, Spotify, and JD.com. Tencent also involves in Go-Jek's investment.

One thing to be highlighted from Lippo Group is their active contribution in supporting tech companies, including the on-demand transportation Grab and fintech company Ovo, which is Go-Jek's competitor.

– Original article is in Indonesian, translated by Kristin Siagian