From palm oil to platforms and parcels, Malaysian tycoons chase Indonesia’s digital gold rush
Malaysian investors have poured nearly US$1 billion into Indonesia’s digital space so far, with deal activity peaking in 2023 at US$229 million
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[JAKARTA, KUALA LUMPUR] They made fortunes in palm oil, resorts and retail. Now, some of Malaysia’s prominent tycoons, including Wilmar’s Robert Kuok and Genting Group’s Lim Kok Thay, are quietly funnelling serious money into Indonesia’s digital and logistics sectors.
It is not a new play but a strategic one, reflecting how Malaysian money is chasing South-east Asia’s biggest economy, where clicks are starting to matter more than commodities.
Malaysian investors have poured some US$905 million into Indonesia’s digital space so far, with deal activity peaking in 2023 at US$229 million – even higher than the pandemic-era surge of US$214 million in 2021, data from startup intelligence platform Tracxn showed.
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