Toga and Indonesia Stock Exchange (IDX) join hands
Ambitious expansion plans in Southeast Asia
DELAWARE, U.S. – 16 March 2018 – Toga Limited’s CEO Mr Michael Toh announced Toga’s future blueprints in new Jakarta office, the third branch in Southeast Asia, taking after Malaysia and Philippines.
On 15 March —– Michael was invited to host IDX’s stock market launch ceremony in Jakarta, alongside senior management team – General Manager Dr. Steve Tan, TCA’s CEO Roy Lim and securities counsel Mr. Scott Lawler. At the press conference after the launch, Michael said, “Indonesia has the fourth largest population globally and the world’s 16th largest economy. It’s futuristic and rapid economic development has just started to unfold. We have confidence in the potential’s of this new emerging market and believe that there will be collaboration of mutual benefit between Toga and the local corporations.”
The expansion of Toga in Indonesia has gained recognition from Indonesia Stock Exchange (IDX) and Toga becomes the first foreign company to be invited to host the opening session of the day’s stock exchange. It was an unprecedented scene with more than 45 media organizations arranged for onsite interviews. In addition to this, Toga’s new office was officially opened the day before, located in Jakarta’s bustling business hub – Sudirman Central Business District. Toga is strategically expanding its business blueprint in Southeast Asia.
“Toga will be funding emerging companies under the IDX INCUBATOR program. More than five companies have currently been identified and we are looking into forming strategic partnership with one or two of these companies.” said Dr. Steve Tan, Toga’s General Group Manager in an interview. Toga will also participate in IDX INCUBATOR and ‘IDX Galeri’, providing financial and technology support to emerging tech companies. Toga will also be focusing on a series of activities related to finance,,training programmes, education and competitions planned out for primary and secondary schools in Indonesia. Toga hopes to provide relevant education for the young generation, to inspire their creative thinking and promote an all-rounded development on market economy, humanities and culture. Nicky Hogan, Director of Business Development of IDX delivered a speech and expressed his support and positive spirit towards the joint collaboration between Toga and IDX.
Toga targets to launch its mobile communication application, Yippi to the large Indonesian population especially young working individuals. With its one-stop convenience operating system and a stable compatibility, Yippi has gained attention from this generation. It is anticipated to become IDX’s official business communications platform, facilitating employee communications and operate as a multi-functional work-friendly platform. Michael revealed that they will strive to increase the number of Indonesian Yippi users up to 100 million by the end of 2019, and will use Yippi to help 2 million local SMEs in business development and expand their customer base. In return, a sustainable and self-circulating business model will be created.
U.S. company Toga Limited was founded in 2003, the Asia Pacific Representative Office is based in Kuala Lumpur, Malaysia and was established in 2015. In the same year, the company was listed on the Over the Counter (OTC) Markets (stock code: TOGL), and has been constantly active in the Southeast Asian market. Toga is well-recognized in the industry for two things – “Yippi”, its mobile communication app and its sustainable business model, which has gained Toga a wide-spread of global users.