Jakarta – PT Astra International Tbk (ASII) through Astra Land Indonesia (ALI) cooperated with Hong Kong Land to form a joint venture (JV) with LOGOS SE Asia Pte Ltd to develop a modern logistics warehouse business.

Tira Ardianti, Astra International's Head of Investor Relations, stated that the company, in collaboration with Hongkong Land via ALI and LOGOS, is attempting to manage and develop modern logistics warehousing facilities.

"This is part of Astra's efforts to play a role in developing Indonesia's logistics sector," she said in a statement released in Jakarta on Tuesday (29/3).

Astra Land Indonesia is a JV company between PT Menara Astra (Astra Property) and Hongkong Land with share ownership of 50% each.

Meanwhile, ALI and LOGOS each have a 50% stake in the JV formed by the two.

LOGOS is a logistics specialist company growing in operational areas including Australia, China, Singapore, Indonesia,