PT Astra International Tbk is Indonesia’s largest diversified conglomerate. The company’s operations centre around automotive manufacturing and distribution. Originally a fruit juice and grocery goods trading company, Astra International was founded in 1957 by Chinese brothers Tjia Kian Tie and William Soerydadjaya.
The company entered the import sector during the 60s, securing a fleet of General Motors trucks to be purchased by the Indonesian government. By the end of the decade, Astra engaged in automotive assembly for Toyota, who was seeking entry into the Indonesian market. Benefitting from Indonesia’s strict importation policies, Astra secured contracts for Honda motorcycles, Peugeot/Renault and Daihatsu, accounting for around 40 per cent of the total Indonesian automobile market. The company developed its export business through partnerships with Japanese firms that saw its core automotive business supplemented with products such as televisions, computers and banking. Brands such as Fiat, Isuzu, BMW and Nissan Diesel joined Astra’s product line, prompting the company to list publicly in 1990. Jardine Cycle & Carriage, a subsidiary of the Keswick family’s holdings, purchased a 40 per cent stake in the company in 2003.
Today, Astra is the largest independent automotive group in Southeast Asia. Jardine Cycle & Carriage owns a controlling 50.1 per cent stake in the company.
- Family name: Keswick family
- Sector: Wealth & Asset Management
- Founded: 1957
- Founder: Chinese brothers Tjia Kian Tie and William Soerydadjaya
- Country: Indonesia
- Revenue: 13.3
- Employees: 149,532
- Website: astra.co.id
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