Putra Muskita

Jakarta, Singapore, Western Visayas

Indonesia Correspondent at Tech in Asia

Journalist at @techinasia covering Indonesia. Views mine.

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Articles

Indonesia’s stock plunge isn’t tech’s problem - yet

2 months ago | techinasia.com | Putra Muskita

Will we look back on March 18, 2025 as a turning point for Indonesia’s tech scene? The Indonesia Stock Exchange (IDX)’s composite index plunged by 6% that morning – to its lowest levels since 2021 – prompting the exchange to temporarily halt trading. On March 25, the rupiah fell to 16,642 against the US dollar, which is its lowest since the 1998 Asian Financial Crisis. It’s not entirely surprising.
Minimarket Indonesia: jalur dagang baru bagi merek online?

2 months ago | id.techinasia.com | Putra Muskita

Indomaret dan Alfamart dapat dengan mudah ditemukan di hampir setiap sudut jalan di Indonesia. Kedua peritel ini sudah menjadi bagian dari kehidupan sehari-hari masyarakat di dalam negeri. Baik Indomaret dan Alfamart telah memanfaatkan jaringan toko mereka yang luas untuk berekspansi ke e-grocery. Kini, merek-merek konsumen yang awalnya berfokus pada penjualan online juga mulai menjadikan minimarket ini sebagai jalur cepat untuk berkembang ke pasar offline. Salah satu contohnya adalah Kopi Kenangan.
WeLab Bank cracked Hong Kong. Now it’s taking on Southeast Asia

2 months ago | techinasia.com | Putra Muskita

Hong Kong-based WeLab Bank announced in December 2024 that it had reached monthly breakeven for the first time, marking a milestone four years after its launch. That time frame is longer than those of KakaoBank, WeBank, and MyBank, which became profitable within their first two years of operations, setting benchmarks for rivals in Asia and beyond. But for Simon Loong, co-founder and group CEO of WeLab, reaching breakeven is what matters most.
Indonesia’s minimarts: the next frontier for online brands?

2 months ago | techinasia.com | Putra Muskita

In Indonesia, Indomaret and Alfamart are on nearly every corner and are staples of daily life. These two retailers have used their vast store networks to expand into e-groceries even when other players in the space are struggling. Now, online-first consumer brands are also turning to these minimarts for a fast track to offline scale. One such brand is Kopi Kenangan.
As eFishery flounders, aquatech firms refuse to sink

Feb 18, 2025 | techinasia.com | Putra Muskita

EFishery giveth, eFishery taketh. Investor interest in Surabaya-based Crustea, which develops an AIoT solution to optimize shrimp pond oxygen levels, surged in 2023 as eFishery‚Äôs valuation and public profile soared. But now, with the unicorn‚Äôs alleged fraud dominating headlines, Crustea is swimming against the current of skepticism ‚Äď and not just from investors.
Embattled unicorn eFishery accelerates mass layoffs

Feb 12, 2025 | techinasia.com | Putra Muskita

Aquatech unicorn eFishery is ramping up plans to axe the majority of its employees as it struggles to manage the fallout from its ongoing crisis, Tech in Asia has learned. Multiple sources tell Tech in Asia that a round of layoffs is expected today ‚Äď February 13 ‚Äď with another potentially coming later this month. The exact number of affected employees remains unclear, but a source familiar with the matter suggests that up to 90% of employees could be impacted.
How one minister is making Apple sweat in Indonesia

Feb 10, 2025 | techinasia.com | Putra Muskita

In December 2024, Apple proposed a US$1 billion investment in Indonesia to overturn a ban on iPhone 16. President Prabowo Subianto liked to the idea and instructed Airlangga Hartarto, the coordinating minister of economic affairs, to wrap up the deal. But it is now February, and the iPhone 16 remains banned in the country because of one key holdout: Agus Gumiwang Kartasasmita, the minister of industry.
Audit: Lebih banyak eksekutif senior eFishery ‘terlibat aktif’ dalam penipuan

Feb 9, 2025 | id.techinasia.com | Putra Muskita

Audit: Lebih banyak eksekutif senior eFishery ‘terlibat aktif’ dalam penipuanPremium Content It takes our newsroom weeks - if not months - to investigate and produce stories for our premium content. You can’t find them anywhere else. Ditulis oleh · 10m ago Unicorn Indonesia yang tengah dilanda masalah, eFishery, menangguhkan dua co-founder-nya, Gibran Huzaifah dan Chrisna Aditya, pada Desember 2024 di tengah tuduhan penipuan.
More eFishery senior execs ‘actively involved’ in fraud: audit

Jan 27, 2025 | techinasia.com | Putra Muskita

Embattled Indonesian unicorn eFishery suspended co-founders Gibran Huzaifah and Chrisna Aditya in December 2024 amid fraud claims. A draft audit report that surfaced last week, however, revealed more troubling details, identifying several other senior executives as “implicated employees” in the alleged fraud. Tech in Asia reviewed the 52-page report, which found that 10 individuals were “actively involved” in falsifying financials, executing fake transactions, or managing related bank accounts.
Di balik teka-teki pembayaran utang US$300 juta Traveloka

Jan 21, 2025 | id.techinasia.com | Putra Muskita

Di balik teka-teki pembayaran utang US$300 juta TravelokaPremium Content It takes our newsroom weeks - if not months - to investigate and produce stories for our premium content. You can’t find them anywhere else. Ditulis oleh · Just now Ketika Traveloka membatalkan rencana IPO melalui jalur SPAC pada tahun 2021, langkah tersebut menempatkan unicorn teknologi perjalanan asal Indonesia ini dalam posisi yang sulit.