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Astra International

Astra International was founded in 1957, based on a small trading business operated by brothers Tjia Kian Tie and William Soeryadjaya. The family had begun its trading activities by the 1940s, initially operated as a distributor of fruit juices and other agricultural and grocery goods, before adding a small export business as well.

Now Astra has become one of Indonesia's largest diversified conglomerates in Indonesia. Over the years Astra has grown and become the largest automotive distributor and producer in Indonesia partnering with Japanese automakers such as Toyota, Daihatsu and Isuzu.

Astra has expanded its business lines not only in automotive related businesses and now has six core businesses: Automotive, Financial Services, Heavy Equipment, Agribusiness, Information Technology and Infrastructure. A number of strategic alliances with leading global players in various industries has been established. At year-end 2007, Astra Group had a workforce of 116,867 people, spread across 130 subsidiaries.

Astra International, or the Astra Group, is majority owned by Jardine Cycle & Carriage of Singapore which in turn is majority owned by the Jardine Matheson Group.

The company's operations have long centered around its core automotive manufacturing and distribution business, which remains its largest division, at nearly 83% of total sales of IDR 31 trillion ($3.7 billion) in 2002. The opening of Indonesia's import market at the dawn of the 21st century, especially to fellow ASEAN economic community members, has forced Astra to adapt.

In May 2003, the company sold off nearly all of its holdings in its longtime automotive manufacturing joint venture with Toyota. The move, the proceeds of which were earmarked toward paying down the company's $1 billion in debt, refocused Astra primarily on its automotive sales and distribution network, which remains the largest in Indonesia.

The company holds the exclusive distribution rights to Toyota (the country's biggest selling brand), Peugeot, Daihatsu, BMW, Isuzu, and Nissan Diesel. The company also maintains manufacturing operations for certain Daihatsu and Isuzu vehicles, as well as the exclusive manufacturing and distribution rights for Honda motorcycles, the leading motorcycle brand in the country. Other Astra divisions include Financial Services, mostly to finance automobile purchases, which accounted for 5.4 percent of sales in 2002; Agribusiness, which produced 6.6 percent of sales; heavy equipment manufacturing and wood-based production, which together added nearly 2.5 percent of sales. Nearly all of the company's operations are focused on the Indonesian market.

Since 1990, the Company had been a public company, listed on both the Jakarta and Surabaya Stock Exchanges, now known as the Indonesia Stock Exchange with the Company s market capitalization as of 31 December 2007 stood at IDR 110.5 trillion.

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Overseas expansion

One of its subsidiary, PT Astra Otoparts Tbk (IDX:AUTO) through PT FSCM Manufacturing Indonesia has made a joint venture with SUNFUN Chain Co. Ltd. on December 9, 2011 with a capital ownership composition of 40 and 60 percent respectively. The investment is 41 million yuan or around of Rp.56.85 billion and predicted will start full operation in 2014.[1]

See also

  • Toyota Motor Corporation
  • Astra Insurance

References

External links

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Source: Wikipedia | The above article is available under the GNU FDL. | Edit this article



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