Indomobil establishes a joint venture to distribute KIA brand

22 May 2019 05:56

JAKARTA - PT Indomobil Sukses Internasional Tbk (IMAS), an automotive and component company, will become the distributor of KIA, a vehicle brand from Korea, by establishing a joint venture company. The joint venture will be owned by Indomobil (60%) and PT Sarimitra Kusuma Ekajaya (40%)

As quoted from the disclosure of company information, Jusak Kertowidjojo, President Director of PT Indomobil Sukses Internasional Tbk (IMAS) said that the joint venture would distribute KIA products. "The company aims to improve the performance of Indomobil Group by adding brands that will be offered to consumers," he said.

The joint venture, named PT Kreta Indo Artha, was established on 17 May 2019. There is no affiliation between the two companies. The authorised capital amounted Rp 100 billion and the issue and pay-up capital of Rp 25 billion. (LK/AR)

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