BII, Lend Lease tie up

JAKARTA (JP): Lend Lease Corporation of Australia formally began its Indonesian operations yesterday through its joint venture with Bank Internasional Indonesia (BII).

The joint venture, named BII Lend Lease Investment Services, operates in management services, investment management and providing technical assistance and supervision in the management and administration of pension funds.

Lend Lease is listed on the Australian and New Zealand stock exchanges with market capitalization of over Rp 5.5 trillion (US$2.6 billion), making the company one of the 20 largest listed companies in Australia. (hen)