Chief executive of Astra International Prijono Sugiarto has stated that the group had shown interest in investing in Indonesia's motorcycle ride-hailing company Go-Jek for some time but had been waiting for the right time.
"We see that Go-Jek is special, its development is significant," Sugiarto told a news conference.
The announcement was released weeks after sources told Reuters that Temasek, a Singapore state investor was also one of the investors in Go-Jek as part of a US$1.2bil (RM4.75bil) fundraising round.
This funding will aid Go-Jek in competing with successful rivals as players rapidly expand their app-based services and digital payments in Southeast Asia.
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