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Oracle Explores Data Center Investment in Indonesia’s Batam Island

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Oracle Corp is in talks with the Indonesian government to establish a new cloud services center on Batam Island, according to Bloomberg News. The company is considering Nongsa Digital Park, a location that benefits from free trade zone status and its strategic proximity to Singapore and Malaysia. Oracle has ongoing cloud service initiatives in both countries, further fueling its interest in the region.

Earlier in October, Oracle revealed plans to invest over $6.5 billion to create its first public cloud region in Malaysia. Oracle’s expansion in Southeast Asia is part of a broader effort to grow its global infrastructure, which spans Asia from Japan to New Zealand and extends to India, as stated by Garrett Ilg, Oracle’s Executive Vice President for Japan and Asia Pacific.

The company’s cloud infrastructure in Singapore already includes two data centers, and Oracle operates 50 public cloud regions across 24 countries, underscoring its expanding global presence. As Oracle continues to broaden its reach, it is expected that Batam Island will play a key role in its ambitious regional strategy.

Oracle, Indonesia’s Investment Ministry, and Communication Ministry did not immediately respond to requests for comment.

SingTel Secures $476 Million Green Loan for Data Centre Development

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Singapore Telecommunications (SingTel) announced that it has secured a green loan worth S$643 million ($476.16 million) to fund the development of a new 58-megawatt (MW) data centre in Singapore. The loan, which spans five years, has been provided by a consortium of lenders, including DBS Group, OCBC, Standard Chartered, HSBC, and United Overseas Bank.

Green loans are specifically designated to finance projects that support environmental sustainability, reflecting the increasing focus on aligning data centre growth with climate goals, especially as industries like artificial intelligence (AI) and cloud computing drive rising demand for such facilities. SingTel’s new data centre, located in Tuas, is expected to be operational by 2026 and will feature a high-density environment ideal for handling the growing AI workloads.

Arthur Lang, SingTel’s group chief financial officer, emphasized that this green loan would help the company contribute to Singapore’s digital economy while aligning with its long-term net-zero objectives. SingTel had previously secured a S$535 million green loan in December 2023 to refinance debt and fund the development of two other data centres in Singapore.

 

Philippine Fintech GCash Plans Up to $1.5 Billion IPO, Sources Say

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GCash, a leading Philippine fintech company, has enlisted major banks, including Citi, Jefferies, and UBS, to assist in a potential initial public offering (IPO) that could raise as much as $1.5 billion. If successful, the IPO would mark the largest ever in the Philippines, surpassing the $1 billion IPO of food company Monde Nissin in 2021.

The IPO is tentatively scheduled for the second half of 2025 or 2026, depending on market conditions. However, GCash’s listed affiliate, Globe Telecom, stated that no final decisions have been made about the IPO at this time, but the company is preparing for an IPO when the right opportunity arises.

Sources familiar with the matter revealed that banks including Citi, HSBC, Jefferies, JPMorgan, Morgan Stanley, and UBS have been appointed for the IPO. Although the involved banks declined to comment, the move has raised significant interest, especially as the Southeast Asian IPO market saw a 43% drop in total proceeds in 2024.

GCash is a dominant player in the Philippines’ cashless ecosystem, offering services such as money transfers and bill payments. In 2023, GCash’s parent company, Globe Fintech Innovations (Mynt), raised investments from Ayala Corp and Mitsubishi UFJ Financial Group, giving the fintech company a valuation of $5 billion, more than double its previous valuation.