TICON finds partner for Indonesian venture
TICON Industrial Connection Plc, in collaboration with SSIA, a property developer in Indonesia, have established a company named PT Surya Internusa Timur (SIT) with an initial registered capital of US$15 million.
Winning a deal with Unilever Indonesia as its first customer, the company has developed two built-to-suit warehouses in key Indonesian cities, Makassar and Banjarmasin. The new warehouses fulfill the company's ambitious goal of building a strong foundation for business continuity and growth, TICON’s chief executive officer Virapan Pulges said yesterday.
He added that the newly established company is responsible for developing and managing international quality factories and warehouses for lease in Indonesia by expanding its first business into South Sulawesi and South Kalimantan of Indonesia.
The recent investment reflects TICON's continuing business expansion in Indonesia by partnering with high potential companies like SSIA, one of the country's leaders in real estate property development and is currently listed on the Indonesia Stock Exchange (IDX), he said.
