Indonesia’s troubled P2P firm Investree has officially entered liquidation, while Alfamidi has sold 70% of its stake in Lawson convenience stores to Alfamart.
Investree officially enters liquidation
Indonesia’s troubled P2P firm Investree has officially entered liquidation, marking the formal closure of one of the country’s early fintech pioneers.
This comes after the Financial Services Authority (OJK) revoked its business licence on Oct 22, 2024, following serious regulatory breaches, including non-compliance with consumer protection standards and repeated failures to meet financial and operational requirements.
According to the company’s announcement in a local newspaper, an Extraordinary General Meeting of Shareholders was held on March 14, 2025, which approved the dissolution of the company. The decision was formalised through a notarial deed on March 27, 2025.
The liquidation team has appointed three people to oversee the process, including Narendra Tarigan, Imanuel Rumondor, and Syifa Salamah. The team will handle all matters related to the company’s liquidation, including the verification and settlement of any claims.
Creditors and stakeholders have up to 60 calendar days from the announcement date to submit claims to the liquidation team at the Investree office in Jakarta.
Alfamart buys subsidiary’s 70% stake in Lawson
PT Midi Utama Indonesia Tbk (Alfamidi), a subsidiary of Alfa Group and operator of Alfamidi convenience store chain firm, has sold 70% of its stake in PT Lancar Wiguna Sejahtera (LWS), the operator of Lawson convenience stores in Indonesia, to PT Sumber Alfaria Trijaya Tbk (Alfamart), according to the company’s announcement on IDX.
The sale, which is equivalent to 200 billion rupiah (about $11.8 million), was executed through a Conditional Sale and Purchase Agreement (CSPA) signed on April 10, 2024.
Alfamidi said the divestment aligns with its strategy to streamline operations and focus on its core relation portfolio. Proceeds from the sale will be used to support operational needs and capital expenditures, with the company expecting the move to improve both its profitability and cash flow in the coming periods.
“The funds obtained from the transaction can support the company’s operational funding and capital expenditures for business development. Once the transaction becomes effective, the company expects to improve and enhance its financial performance in the future, both in terms of profit and loss statements as well as cash flow reports. This is expected to create added value for all shareholders in the future,” said Alfamidi.
As of December 31, 2024, Alfamidi operated 2,368 self-branded minimarket outlets, 62 Alfamidi Super-branded supermarkets, and 5 Midi Fresh-branded fruit stores in the retail sector. Meanwhile, LWS, as a subsidiary, operated 374 Lawson-branded convenience stores, with a large portion of sales coming from ready-to-eat food products.
Before the transaction, Lawson was owned 70% by Alfamidi, 20.34% PT Amanda Cipta Persada, 4.83% each by PT Cakrawala Mulia Prima and PT Perkasa Internusa Mandiri. With the sale, Alfamart has become the majority shareholder in Lawson, further consolidating Alfa Group’s retail portfolio.
