The 2018 Indonesia Fintech Fair was the first event that held start this year. It took the theme of “Fintech Transforming Life” and was organized by the Fintech Indonesia Association (Aftech) in Jakarta. The purpose of this financial technology community event was to broaden the education and information on the conventional tekfin and shariah tekfin to innovate teh alternative solutions to gain the financial access for wider community.

With a theme that emphasiz the consumer protection, the 2018 Indonesia Fintech Fair was attended by all stakeholders of the financial technology industry ecosystem from government, bankers, fintech service providers, which are Investree, and other fintech companies to interact directly with public in the panel discussions.

During the event there were also various exhibitions, the product and service presentations, and games. Co-Founder and CEO of PT Investree Radhika Jaya (Investree) Adrian Gunadi said the involving of the community to improve the awareness and diversification of products and services is very important, because it could strengthen the protection of the consumers.

Except of that, Adrian who also serves as Vice Chairman of Aftech said that the event became an opportunity for the association to educate the fintech businessmen to run the business with a sense of full responsibility and transparent.

“We see that the event is the right momentum and a good opportunity to share the awareness because all stakeholders will be attended and join with people whether aware or not to the benefits of tekfin,” said Adrian.

In the future, Investree will introduce the detail of their newest products and services based on sharia. These products are the Sharia payment service based on Invoice Financing and the Sharia Online Seller Financing for Online Store.

The Definition of the Sharia payment service is a funding product guaranteed by invoices, designed to apply the sharia method through Akad Al Qardh for bailout and Akad Wakalah Bil Ujrah for gaining the profit or ujrah.

While the Sharia Online Seller Financing is a working capital financial service for online store sellers who have an active store on the e-commerce platform of Investree partners. This transaction is also using sharia mehods (Akad Murabahah and Wakalah) with monthly installment payment scheme and the 12 month of period.

Sixty-Four Fintech Approved by OJK

The improvement of fintech industry seems to get a positive response. The Financial Services Authority (OJK) as the regulator of the financial services industry has recorded the number of registered fintech until June 2018, which are already 64 fintech. The number has increased compared to previous time. On April 2018, OJK had registered 51 fintech companies.

According to the official website of OJK, it has informed that until now only one fintech company that get permission, which is Danamas. While the latest one that registered on June 8, 2018 was Kreditcepat.

Until April 2018, the fintech peer to peer lending industry had distributed Rp 5.42 trillion. The value had increased 111.23% compared to December 2018. While the ratio of non-performing loans (NPL) from fintech lending had reached 0.53% in April 2018. The value had decreased compared to December 2017 which reached 0.99%. While the amount of borrowers at April 2018 had reached 1.47 million entities, up 468.79% year to date. Then the number of lenders had reached 162,373 entities, up 60.86% year to date.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.

Email : info@investinindonesia.id

Hotline/Whatsapp : +62812-1000-7112

Office : +6221-80674920

The post 2018 Fintech Fair: Socializing Financial Literacy appeared first on INESIA.

2018 Keqiao Textile Expo opened opportunities for textile and garment enterprises to market their products locally and internationally. A textile company that had never missed the exhibition in Shaoxing City was Shaoxing Mulinsen Textile Co. Ltd. which was always targeting buyers and Indonesian company.

Director of Shaoxing Mulinsen Faye Wang said thatits biggest market was Indonesia. In fact, according to him, half of the company’s revenue was from the exports to Indonesia. “Our revenue last year reached 100 billion US dollars and 50 billion US dollars was from sales to Indonesia,” he said.

The companies’ target cities in Indonesia were Bandung and Jakarta. “More sale were at Bandung, and a few (other) at Jakarta,” he said. This year Faye’s company was anticipating a 25 percent increase in exports to Indonesia by relying on woven and polyester products.

Faye’s company also marketed its products to Southeast Asian countries (50-60 percent of total exports), and also, to Western countries such as Los Angeles US, Italy and France. Within a year, his company followed six exhibitions, such as in Canton and Shanghai, which could contribute up to 20 percent to corporate income.

Except of served direct purchases, Faye’s company accepted orders through its electronic commerce services by using the popular Alibaba application in China.

Became a Target

Just like Shaoxing Mulisen, Sanmai Fabric textile company also made Indonesia as one of the main markets for their products. Sanmai Fabric’s representative,Diz Qian, said that his company earned $ 2 million in revenue from the exports to Indonesia.

“Indonesia is the second country of our target market, after Sri Lanka,” he said. He also added that from the exports to Sri Lanka, the company could earn 3 million US dollars per year or one-fifth of the company’s annually revenue which was 15 million US dollars. “So the total percentage of the exports to ASEAN countries was about 30 percent,” he said.

The company marketed the P/D and metallic materials with glittering beads that likekby South Asian people. Except of Indonesia and Sri Lanka, Sanmai Fabric also marketed its products to North America such as Mexico and Los Angeles, also toSouth America and Europe.

Diz Qian said his company also often participated in the exhibition, which allowed the textile industry to expand the market. “It can even go up twice,” said Diz Qian, wherehis company’s factories operated in Shaoxing and Fujian.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.

Email : info@investinindonesia.id

Hotline/Whatsapp : +62812-1000-7112

Office : +6221-80674920

The post Indonesian Market Became Target of China’s Textile Industry appeared first on INESIA.

“Recently ponpes has taken a part in encouraging the economic growth, because many of them which have built the cooperatives, develop the various business units, both small and medium scale, and also, have business incubators,” said Minister of Industry Airlangga Hartarto.

Ministry of Industry has intensively carrying out the activities of developing of new industrial entrepreneurs and the development of industrial units in the pesantren. It was called the Santripreneur program. “Almost 70 percent of Indonesian businessmen are in MSME sector. This is a quite strong asset to face the industrial revolution 4.0,” said Airlangga.

Airlangga added that ponpes had great potential to create new entrepreneurs and grow the small and medium industries. “This is certainly a gift from God that we should be grateful for. Our potential is very large that supported by a lot of campuses and pesantrens in Indonesia which is not exist in other countries in the world,” he added.

Based on data from the Ministry of Religious Affairs, during the year 2014-2015, in Indonesia there were 28,961 ponpes spread all of the province which had santri of more than 4 million people. From the total of ponpes, 23,331 ponpes or 80 percent of them were in 4 provinces, which were West Java, East Java, Central Java and Banten.

Minister of industry optimistically said that with the development of the digital era today, the students could be a strategic change agent in building the nation and the Indonesian economy in the future. For that reason, Indonesian santri must study seriously in science, both religion and entrepreneurship. They, the majority of millenial generation, also need to understand the latest technology.

Moreover, in the next 10 years, Indonesia would havethe demographic or momentum bonus when the population was dominated by productive age (ages 15-64 had reached 70 percent). Currently Indonesia’s economy is ranked 16th in the world. We believe, according to aspirations in Making Indonesia 4.0, it can be a country that is in the top 10 of the world’s strongest economies by 2030.

Therefore, the ministry of industry was committed to support the development of national Small Medium Industry (IKM) in the era of digital economy, by building an e-commerce platform called e-Smart IKM. The Government have been working with a number of domestic marketplaces to provide IKM e-Smart workshops to several regions in Indonesia, so santri should also take this opportunity.

Until now, there were 1,730 IKM businessmen who have participated in IKM e-Smart workshops. By 2019, The ministry of industry would target to invite up to 10 thousand IKM businessmen in Indonesia to attend the workshop. Government will also build technology centers to improve the acces of IKM to technology acquisitions and provide the mentoring support to encourage the innovation.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.

Email : info@investinindonesia.id

Hotline/Whatsapp : +62812-1000-7112

Office : +6221-80674920

The post Santripreneur Can Contribute to Indonesian Economy appeared first on INESIA.

Thousands sheet of neatly lined fabrics filled the area of ​​China Textile City International Convention and Exhibition Center, where became the site of the 2018 Keqiao Textile Expo in Shaoxing, China. The spring exhibition, which included 1,392 booths and 540 textile companies, also offered a variety of textile products, consist of clothing, curtains, and hijab, which were sold on demand.

2018 Keqiao Textile Expo opened opportunities for textile and garment enterprises to market their products locally and internationally. A textile company that had never missed the exhibition in Shaoxing City was Shaoxing Mulinsen Textile Co. Ltd. which was always targeting buyers and Indonesian company.

Director of Shaoxing Mulinsen Faye Wang said thatits biggest market was Indonesia. In fact, according to him, half of the company’s revenue was from the exports to Indonesia. "Our revenue last year reached 100 billion US dollars and 50 billion US dollars was from sales to Indonesia," he said.

The companies’ target cities in Indonesia were Bandung and Jakarta. "More sale were at Bandung, and a few (other) at Jakarta," he said. This year Faye’s company was anticipating a 25 percent increase in exports to Indonesia by relying on woven and polyester products.

Faye’s company also marketed its products to Southeast Asian countries (50-60 percent of total exports), and also, to Western countries such as Los Angeles US, Italy and France. Within a year, his company followed six exhibitions, such as in Canton and Shanghai, which could contribute up to 20 percent to corporate income.

Except of served direct purchases, Faye’s company accepted orders through its electronic commerce services by using the popular Alibaba application in China.

Became a Target
Just like Shaoxing Mulisen, Sanmai Fabric textile company also made Indonesia as one of the main markets for their products. Sanmai Fabric’s representative,Diz Qian, said that his company earned $ 2 million in revenue from the exports to Indonesia.

"Indonesia is the second country of our target market, after Sri Lanka," he said. He also added that from the exports to Sri Lanka, the company could earn 3 million US dollars per year or one-fifth of the company’s annually revenue which was 15 million US dollars. "So the total percentage of the exports to ASEAN countries was about 30 percent," he said.

The company marketed the P/D and metallic materials with glittering beads that likekby South Asian people. Except of Indonesia and Sri Lanka, Sanmai Fabric also marketed its products to North America such as Mexico and Los Angeles, also toSouth America and Europe.

Diz Qian said his company also often participated in the exhibition, which allowed the textile industry to expand the market. "It can even go up twice," said Diz Qian, wherehis company’s factories operated in Shaoxing and Fujian.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.
Email : info@investinindonesia.id
Hotline/Whatsapp : +62812-1000-7112
Office : +6221-80674920

The post Indonesian Market Became Target of China’s Textile Industry appeared first on INESIA.

A great event of financial technology (fintech) industry had been held in Jakarta. The event with the title of The 2018 Indonesia Fintech Fair was expected to be an appropriate event for some fintech companies to improve the public awareness about technology-based lending services and companies or more popularly called as Peer to Peer Lending or P2P Lending.

The 2018 Indonesia Fintech Fair was the first event that held start this year. It took the theme of "Fintech Transforming Life" and was organized by the Fintech Indonesia Association (Aftech) in Jakarta. The purpose of this financial technology community event was to broaden the education and information on the conventional tekfin and shariah tekfin to innovate teh alternative solutions to gain the financial access for wider community.

With a theme that emphasiz the consumer protection, the 2018 Indonesia Fintech Fair was attended by all stakeholders of the financial technology industry ecosystem from government, bankers, fintech service providers, which are Investree, and other fintech companies to interact directly with public in the panel discussions.

During the event there were also various exhibitions, the product and service presentations, and games. Co-Founder and CEO of PT Investree Radhika Jaya (Investree) Adrian Gunadi said the involving of the community to improve the awareness and diversification of products and services is very important, because it could strengthen the protection of the consumers.

Except of that, Adrian who also serves as Vice Chairman of Aftech said that the event became an opportunity for the association to educate the fintech businessmen to run the business with a sense of full responsibility and transparent.

"We see that the event is the right momentum and a good opportunity to share the awareness because all stakeholders will be attended and join with people whether aware or not to the benefits of tekfin," said Adrian.

In the future, Investree will introduce the detail of their newest products and services based on sharia. These products are the Sharia payment service based on Invoice Financing and the Sharia Online Seller Financing for Online Store.

The Definition of the Sharia payment service is a funding product guaranteed by invoices, designed to apply the sharia method through Akad Al Qardh for bailout and Akad Wakalah Bil Ujrah for gaining the profit or ujrah.

While the Sharia Online Seller Financing is a working capital financial service for online store sellers who have an active store on the e-commerce platform of Investree partners. This transaction is also using sharia mehods (Akad Murabahah and Wakalah) with monthly installment payment scheme and the 12 month of period.

Sixty-Four Fintech Approved by OJK
The improvement of fintech industry seems to get a positive response. The Financial Services Authority (OJK) as the regulator of the financial services industry has recorded the number of registered fintech until June 2018, which are already 64 fintech. The number has increased compared to previous time. On April 2018, OJK had registered 51 fintech companies.

According to the official website of OJK, it has informed that until now only one fintech company that get permission, which is Danamas. While the latest one that registered on June 8, 2018 was Kreditcepat.

Until April 2018, the fintech peer to peer lending industry had distributed Rp 5.42 trillion. The value had increased 111.23% compared to December 2018. While the ratio of non-performing loans (NPL) from fintech lending had reached 0.53% in April 2018. The value had decreased compared to December 2017 which reached 0.99%. While the amount of borrowers at April 2018 had reached 1.47 million entities, up 468.79% year to date. Then the number of lenders had reached 162,373 entities, up 60.86% year to date.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the media that became the reference.

INESIA is an Indonesian Legal Process Outsourcing provider. INESIA has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.
Email : info@investinindonesia.id
Hotline/Whatsapp : +62812-1000-7112
Office : +6221-80674920

The post 2018 Fintech Fair: Socializing Financial Literacy appeared first on INESIA.