Waserda Jaya, Continent sign technical agreement
Waserda Jaya, Continent sign technical agreement
JAKARTA (JP): City-owned chain store company PT Waserda Jaya
signed a technical cooperation deal on Monday with PT Contimas
Utama Indonesia, the Indonesian-French joint venture that manages
Continent hypermarkets here.
"Contimas will provide Waserda Jaya with technical assistance
on goods distribution, human resource development and store
operation," said Waserda Jaya's director Djoko Brotosurjono after
the signing of a memorandum of understanding between the two
companies.
PT Wadserda Jaya was established last year and already runs
three stores in Menteng, Central Jakarta, and Joglo and Muara
Angke, both in West Jakarta.
PT Contimas Utama Indonesia, which started its operations in
1998, is 51 percent owned by the Promodes Group, a 39-year-old
retail giant from France. Its remaining shares are owned by its
local partner PT Sinar Kilat Buana, Sinar Mas Group's retail
unit. Contimas currently operates three Continent hypermarket
outlets in Cempaka Putih, Central Jakarta, Kuningan, South
Jakarta and Pluit, North Jakarta.
Under the newly-signed deal, it would be possible for Waserda
Jaya to expand its cooperation with Contimas, by setting up joint
operations in outlets for example, Djoko said.
In an effort to further this plan, he said, the city-owned
company had submitted a business plan to Contimas.
The blueprint revealed Waserda Jaya's plan to open 100 stores
with an estimated daily revenue of Rp 700 million (US$100,000)
from a projected 100,000 regular customers, Djoko explained.
However, he gave no details of the firm's plan.
"We have already established three stores in 1999 and will
open another 30 stores in 2000," Djoko said.
Waserda Jaya's potential buyers are the 269 multi-purpose
cooperatives located in each of the city's 265 subdistricts.
Djoko also suggested Contimas help Waserda Jaya seek
additional funds from third parties for its operations.
In his speech, Contimas director Jean-Luc Montembault said
Waserda Jaya could in return provide Contimas with consultation
and information services to help it expand its business retail
chain here.
"Contimas is currently developing its stores into combinations
of department stores and supermarkets," he said.
"Waserda Jaya can provide information on legal and licensing
procedures and existing local conditions." Jean-Luc said. (05)