Firms Looking to Expand in Indonesia Tap OCBC Network

More Are Growing Presence There as Country Moves to Boost Domestic Manufacturing

- Sheila Chiang

JAKARTA - OCBC, Singapore's second-largest bank by assets, has an extensive network in Indonesia that is drawing the attention of businesses looking to expand in the regional giant.

Firms are growing their manufacturing footprint in Indonesia, driven by the promise of South-east Asia's largest consumer market and the country's push to build domestic supply chains.

OCBC Indonesia director Martin Widjaja said companies from China have made inquiries that are generally focused on how to set up local production facilities to cut logistics costs and sell directly to consumers in Indonesia.

"Indonesia is an attractive market for them to have a local presence in and meet consumer demand more easily," he said.

Speaking to The Straits Times at the Fairmont Hotel in Senayan business district, he said firms can tap OCBC's deep network across Indonesian industries and stakeholders.

The bank can help companies, from finding a good location for their franchises to finding the correct local partner as a distributor for them, he said.

OCBC has more than 200 branches in Indonesia, catering to businesses that want to access a range of banking services, including multi-currency accounts, working capital financing and merchant acquiring solutions.

Mr Widjaja noted that there has been a wave of food and beverage brands taking root in Indonesia, including local coffee chain Tomoro Coffee and Chinese hotpot chain Haidilao.