JAKARTA. Today (8/2), PT Astra International Tbk (ASII) and Hongkong Land announce their collaboration to establish a joint venture (JV) with Logos SE Asia Pte Ltd, aiming to develop modern logistic warehouses in Indonesia.
Djony Bunarto Tjondro, President Director of ASII, claimed that the JV formation along with Logos reflected the optimism of Astra Group regarding the logistic business in Indonesia. “We wish to expand the access towards modern warehouse facility to support the logistic sector in Indonesia,” he told idnfinancials.com today (8/2).
According to Mordor Intelligence research, the shipping and logistic service market in Indonesia is estimated to proliferate to USD 138.04 billion by 2026 from USD 81.3 billion in 2020. This projection also takes domestic e-commerce and digital technology advancement into consideration.
Stephen Hawkins, Chairman of Logos Southeast Asia, stated that his company warmly welcomed the partnership with ASII through PT Astra Land Indonesia (ALI) and Hongkong Land. “The establishment of JV will surely increase the synergy of both companies. ALI has an impressive track record in the property sector, while Logos has solid and broad experience,” he explained in the official release.
For the record, Logos is a multinational company that focuses on the logistic sector. Since its establishment in 2017, Logos has widened its scope to several Asian and European countries, as well as Australia, China, India, South Korea, and New Zealand. (KR/ZH)