Treasure Global Inc To Form E-Commerce Ventures In Indonesia With Industry Pioneers Ariadi Anaya And Budihardjo Iduansjah
Portfolio Pulse from Happy Mohamed
Treasure Global Inc (NASDAQ:TGL) has announced its plans to form an e-commerce venture in Indonesia, PT Harmoni Bagi Dunia (HBD), in partnership with industry pioneers Ariadi Anaya and Budihardjo Iduansjah. TGL will hold a 70% stake in HBD and grant it exclusive rights to promote and operate its proprietary app, ZCITY, in Indonesia. This venture will provide TGL with access to a network of 200,000 merchants and data of 5 million users in Indonesia, marking the company's expansion into the Indonesian market.
August 15, 2023 | 1:22 pm
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POSITIVE IMPACT
Treasure Global's new venture in Indonesia could potentially increase its total addressable market and revenue, given the substantial internet user base in the country. The partnership with local industry pioneers could also enhance its local market understanding and operations.
The news of Treasure Global's expansion into the Indonesian market through a new e-commerce venture is highly relevant and important for the company. This could potentially increase its total addressable market and revenue, given the substantial internet user base in Indonesia. The partnership with local industry pioneers Ariadi Anaya and Budihardjo Iduansjah could also enhance its understanding of the local market and improve its operations, thereby potentially boosting its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100