JAKARTA. PT Indomobil Sukses Internasional Tbk (IMAS), a car manufacturer and distributor under Salim Group, has ended the joint venture (JV) agreement with Autobacs Seven Co., Ltd.

Said agreement was carried out by IMAS's subsidiary, PT Central Sole Agency (CSA). The joint venture used to be established by CSA and Seven was called PT Autobacs Indomobil Indonesia (AII).

"CSA, 100% of which is effectively owned by the company, along with its joint partner, Autobacs Seven, plan to end the joint venture agreement between them," added CR Susilowasti, Corporate Secretary of IMAS, in the official disclosure.

According to IDNFinancials record, AII was established in 2013. This JV is engaged in trading business. The stock portion of CSA in AII is 51%.

Several products that were offered by AII include tyres, motor oil, battery, and vehicle repair services. While conducting its business, AII had partnered with several marketplaces and retail networks, such as Indomaret, JD.ID, and I Style. (KR/ZH)