Marubeni and CT Corp sign Memorandum of Understanding for strategic partnership
Jul. 19. 2016
Marubeni Corporation (“Marubeni”) signed a Memorandum of Understanding for a strategic partnership (“Agreement”) with CT Corp, a major Indonesian conglomerate engaged in a range of business sectors including financing services, retail, media, lifestyle, and plantations in Indonesia and other Asian countries.
Marubeni has cultivated a strong relationship with CT Corp since investing in its motorcycle sales financing subsidiary in 2012. Following this Agreement, Marubeni will actively develop new joint businesses, including those related to domestic demand, in partnership with CT Corp. In addition, the two companies will conduct personnel exchanges and human resources training programs to foster the sharing of their extensive business knowledge and create new value.
Marubeni is reinforcing its overseas strategy under its new mid-term management plan, GC2018 (“Global Challenge 2018”). ASEAN, with its burgeoning middle classes, is a key market, and Marubeni will promote expansion of community-based businesses that target growing domestic demand in each country and region around the world.
Mid-term domestic demand is expected to grow in Indonesia, a country with a population of 250 million people. Marubeni, through its active collaboration on domestic demand-type business with CT Corp, will reinforce its overseas strategy.
[Outline of CT Corp]
Company name :
CT Corp (formerly holding company Para Group with subsidiaries in such sectors as financing services and retail)
Established : 1987
Representative : Chairul Tanjung (Chairman)
Financial service businesses including major Indonesian bank Bank Mega
Media business, including television stations and news portal websites
Retail business, including theme parks and hotel entertainment
Recent history :
2013: Acquisition of Indonesian supermarket business operated by major French retailer Carrefour
2014: Investment of 30% (approx.) in Indonesian national airline Garuda Indonesia
Headquarters : Jakarta, Indonesia
Employees : Approximately 100,000
Sales : Approximately USD $3 billion (as of December, 2015)