Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.

Publish Date : 12-Jul-2013

ORIX Corporation, a leading integrated financial services group, today announced that it has entered into a business cooperation agreement with the major state-owned Indonesian commercial bank PT. Bank Negara Indonesia (Persero) Tbk (hereinafter, BNI) and its local subsidiary PT. ORIX Indonesia Finance (hereinafter, ORIF) to support the business development of Japanese companies in Indonesia. It is the first time BNI has entered into a business cooperation agreement with a Japanese financial institution involved in the leasing business in Indonesia.

BNI is a major state-owned commercial bank and is Indonesia's fourth largest bank in terms of assets mainly providing financing for the government and local leading companies. BNI is especially active in promoting support for Japanese companies expanding into Indonesia and companies that will consider expansion into Indonesia in the future.

Beginning with car manufacturers, many Japanese companies including restaurants, retailers and food manufacturers are expanding into Indonesia one after the other with their sights set on the economic growth and rapidly increasing demand within the country with the world's fourth largest population. In the future, accompanying Indonesia's domestic economic growth, it is anticipated that there will be increased opportunities for capital expenditures relating to suppliers and subcontractors.

ORIX established ORIF in 1975 as the first leasing company in Indonesia. Since then, it has built up a robust business network and customer base, providing financial services for local Indonesian and Japanese companies with a focus on the leasing of autos, machinery and equipments.

Through this business cooperation agreement, ORIF and BNI will engage in business matching by mutual introduction of customers and seek mutual expansion of their businesses by providing financial services centered on leasing to Japanese customers of BNI. In addition, ORIX will cooperate with Japanese financial institutions who are partners of BNI to support the expansion of mainly Japanese SMEs into Indonesia.

Moving forward, ORIX aims to expand its business base while capitalizing on the network in Asia it has cultivated over the past 40 years, and promoting support for Japanese companies that are expanding their business abroad.

Go to previous page