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Trikomsel phone distributor announced its plan of forming a joint venture with SingPost E-Commerce, Singapore Post’s subsidiary. This joint venture is planned to take the e-commerce services in Indonesia to the next level. Trikomsel is gonna hold 67% of the joint venture’s ownership. At the time it gets established, the joint venture would have $3.3 million (around Rp 43 billion) of valuation.
Sugiono Wiyono, Trikomsel’s President Director, stated, “We are highly enthusiastic that we get to collaborate with SingPost in riding the vast growth of e-commerce globally, especially in Indonesia, to develop the e-commerce industry in Indonesia.”
He further added, “With the skills, tech and powerful resources that both parties hold, we are optimistic that this pertnership would meet the needs as well as provide innovative services to our customers all over Indonesia in a fast, effective and efficient way to finally benefit both parties.”
The partnership will put Trikomsel as the owner of distribution network and SingPost into the same ship. Both will work on logistic operational and e-commerce in regional scope.
This is Trikomsel’s second maneuver related to the e-commerce business development in the past six months. By the end of last year, Trikomsel established TIMI (Trikomsel Internet and Media Inc) which was led by Shopdeca’s Co-Founder Andreas Thamrin.
As being informed by The Business Times, this joint venture will import and supply goods through e-commerce and online retailers, as well as support the development of e-commerce platforms.
SingPost’s CEO Wolfgang Baier commented, “Indonesia is expected to become the third-largest consumer base in the world, after China and India, and the seventh-largest economy worldwide. As the regional enabler of e-commerce, it is crucial for us to find the right partners in emerging markets. Trikomsel has a broad retail distribution reach and will provide access to convenient pick-up locations across the country.”