Treasure Global announced the Company has signed Letter of intent to form an e-commerce venture in Indonesia, PT Harmoni Bagi Dunia with industry pioneers Ariadi Anaya and Budihardjo Iduansjah. TGL will hold a 70% major stake in HBD. TGL will grant HBD exclusive rights to promote and operate its proprietary app, ZCITY, in Indonesia. The LoI marks the beginning of the Company’s expansion into the Indonesian market, aligning with TGL’s strategy to grow internationally by partnering with innovative local partners. TGL is planning in the coming months to launch ZCITY in Indonesia with a dedicated business development and operations team. “The establishment of this collaborative venture is a transformative milestone, marking our entry into Indonesia’s promising digital market, in line with our strategic priority to expand our reach internationally,” said Sam Teo, Chief Executive Officer of TGL.
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