In line with Indonesia's promising e-commerce market - supported by rising Internet penetration, rising smartphone penetration and per capita GDP growth in Southeast Asia's largest economy - online shopping site MatahariMall.com has grown strongly since its launch a year ago. The online retailer, which celebrated its 1-year anniversary on Friday (09/09), sees its turnover grow by an average of 10 percent each month and already entered the top five of biggest e-commerce players in Indonesia (in the business-to-consumer category). However, exact (turnover) figures were not mentioned.

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The move of the Indonesian government to relax foreign ownership rules regarding e-commerce businesses in Indonesia has also given rise to expectation that the country's major e-commerce players (including foreign ones) will be interested to list their companies on the Indonesia Stock Exchange through an initial public offering (IPO). Generally an IPO improves a company's transparency and corporate/financial management. E-commerce businesses are particularly in need of consumers' trust and confidence and therefore an IPO is considered a good corporate move.

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