- Region: Asia
- Manufacturing and Services
- Overseas Investment Loans
March 31, 2015
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement amounting up to USD20 million (JBIC portion) with PT. TTL Residences (TTLR), an Indonesian company. The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd., bringing the overall cofinancing amount to USD39 million.
TTLR is a company established by Toyota Tsusho Corporation (Toyota Tsusho) with Indonesia's LIPPO Group, Toyota Home Co., Ltd., and PT. Tokyu Land Indonesia, an Indonesian subsidiary of Tokyu Fudosan Holdings Corporation. This loan is intended to finance TTLR funds required to develop and operate hotel-residences in Indonesia's Lippo Cikarang district of Bekasi city for long-term expatriates and business travelers of Japanese companies that are expanding their businesses in Indonesia.
The business expansion of Japanese companies in Indonesia is increasing steadily. In particular, it is anticipated that the enthusiasm of Japanese companies*1 continues to be strong in the industrial area of east Jakarta with the expected development of a new port and airport. In partnership with Japanese companies and others, Toyota Tsusho supports Japanese companies' local business endeavors through TTLR, providing residential facilities and support services matching Japanese quality and then, Toyota Tsusho plans to promote globally the offering of infrastructure services that will support Japanese companies' overseas deployment. The loan will contribute to maintaining and strengthening the international competitiveness of Japanese companies through supporting the business deployment of Japanese companies in Indonesia by supporting this Toyota Tsusho's business.
As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies, in growing markets such as Indonesia, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
- *1 Indonesia ranked second in the categories of "the Most Promising Countries/Regions for Overseas Operations over the Medium-term (the next three years or so)" and "the Most Promising Countries/Regions for Overseas Operations over the Long-term (the next 10 years or so)" in "JBIC's FY2014 Survey (the 26th) on Overseas Business Operations of Japanese Manufacturing Companies" published on November 28, 2014. See the Press Release on November 28, 2014 for details.