Jakarta, Indonesia
On the afternoon of March 1, 2025, Asia Timur Assets Indonesia and KKM (PT. Kemilau Karya Mandiri, a joint venture development company of Agung Sedayu Group and Salim Group) held a signing ceremony for their strategic cooperation agreement at the Marketing Gallery located in PIK, North Jakarta.
The event was attended by members of the PIK2 board, including Tommy Zuo, President of Crect Group. Ipeng Widjojo, Director of ASG Investment Development, and Yuan Bang, Vice President of Crect Group and Executive Director of Asia Timur Assets Indonesia, signed the agreement on behalf of both parties.
During the ceremony, Tommy Zuo introduced the ASG team to Crect Group’s business strategies in China and Asia Timur Assets Indonesia’s development vision in Indonesia. He emphasized that the trend of Chinese enterprises accelerating their overseas investments is unstoppable. With rich experience in developing industrial infrastructure and serving business clients in China, Crect Group aims to leverage both parties’ strengths to help Chinese companies establish a strong foothold in PIK2.
Mr. Ipeng highlighted that the PIK area, with its unique advantages, has become an “overseas home” for many Chinese investors venturing into Indonesia. After a period of mutual understanding, ASG is confident that collaboration with Asia Timur Assets Indonesia will bring fresh opportunities for industrial upgrades in the PIK area, transforming PIK into a new engine for bilateral economic and trade cooperation between China and Indonesia.
Agung Sedayu Group (ASG) is a premier real estate developer in Indonesia, with projects spanning the entire country. Following the successful development of the PIK1 township project in North Jakarta, ASG has partnered with Salim Group to continue developing the PIK2 township project. This ambitious project covers over 10,000 hectares, with 3,600 hectares already developed, making the PIK area a new urban district in North Jakarta and attracting numerous Chinese residents, workers, and businesses.
Asia Timur Assets Indonesia, the investment management entity established by Crect Group, a leading developer of industrial and logistics infrastructure, plans to create modern industrial and logistics facilities in Indonesia, offering investment and management services to enable Chinese enterprises to achieve a “CN+ID” industrial layout.
The signing of this agreement marks the official launch of comprehensive strategic cooperation in the PIK2 area, paving the way for an influx of Chinese-funded enterprises.
