Softbank discouraged from becoming a potential project investor new capital or the National Capital (IKN) Nusantara in North Penajam Passer, East Kalimantan. In exchange, Softbank will divert funds investment it to West Sumatra.
However, Softbank’s Representative Director & Chairman Ken Miyauchi said that Softbank will continue to invest in the development of startups in Indonesia.
Not only that, Softbank will also divert investment funds that were previously earmarked for IKN into project investments in West Sumatra. However, Ken did not mention in more detail the investment he would target in West Sumatra.
“Information from our founder, Masayoshi Son, in the near future there will be a plan to transfer funding for the IKN development project to West Sumatra,” he explained, quoted by Reuters, Friday (11/3).
He said that Softbank had resigned as an investor in the new capital project in North Penajam Passer, East Kalimantan, due to the return on investment (RoI) factor.
“Return on Investment is the main reason for us to withdraw from the project in question, in terms of time and the amount of return on investment itself,” he said in an official statement.
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