Investment

Six Astra companies team up in automotive exhibition

Six of Astra International’s 10 financial companies have joined hands to support the upcoming 2018 Gaikindo Indonesia International Auto Show (GIIAS).

PT Astra International director Suparno Djasmin said on Tuesday that this was the first time those companies have served as main GIIAS sponsors under a new entity, Astra Financial.

“Our participation in the Gaikindo event has been consistent since 1986. This year, we introduce Astra Financial to the public,” said Suparno, who is also Astra Financial director in charge.

The group includes PT Astra Sedaya Finance, PT Toyota Astra Financial Services, PT Asuransi Astra Buana, PermataBank, PT Federal International Finance and PT Astra Aviva Life.

Suparno said the group would mainly provide financing for car brands managed under Astra International, such as Toyota, Daihatsu and Isuzu.

“However, we are open to providing financing for other brands as well during the auto exhibition,” he added.

GIIAS 2018 will showcase around 250 brands of passenger cars, commercial vehicles and other automotive industry products from Aug. 2 to 12 at the Indonesia Convention Exhibition (ICE) in Tangerang, Banten.

In the first quarter of 2018, the companies under Astra Financial have contributed Rp 1.06 trillion (US$73.09 billion) in net income to the corporation, a 5.69 percent year-on-year decrease, compared to Rp 1.12 trillion in the same period last year.

The contribution accounts for 21.29 percent of Rp 4.98 trillion in attributed net income from Astra’s seven business sectors. (dmr)

The Jakarta Post

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