CFLD International Marks Further Progress at Latest Indonesia Project

Ground-breaking for tenants of Karawang New Industry City,CFLD's latest integrated industry development in the Jakarta-Bandung economic corridor

More than US$100 million of investment already committed from 9 partners; approximately 4,000 local jobs to be created

JAKARTA,Indonesia,June 20,2019 -- CFLD International,an end-to-end master planner,creator and operator of full-scale New Industry Cities,marked its continued progress in Asia with a ground-breaking ceremony today for the tenants of its Karawang New Industry City (KNIC) project in Indonesia.

Strategically located 47 kilometres east of Jakarta,in the heart of the Jakarta-Bandung economic corridor,the 205-hectare KNIC features world-class infrastructure,digital connectivity,facilities and amenities specifically designed for food,automobile and motorcycles,consumer electronics,and building materials industries. It also houses innovation parks for small and medium enterprises (SMEs).

The ceremony was graced by more than 200 guests,partners,tenants and officials including Airlangga Hartarto,Minister of Industry for Indonesia; Ridwan Kamil,Governor of West Java; Wang Liping,Minister-Counselor of the Economic and Commercial Counselor's Office of the Embassy of China in Indonesia; Dito Ganinduto,Chairman of Commission 6 of the People's Representative Council,Indonesia; Wisnu Wijaya Soedibjo,Deputy Chairman of the Indonesia Investment Coordinating Board (BKPM); and Cellica Nurrachadiana,Regent of Karawang Regency.

Already,more than US$100 million of investment has been committed from a strong suite of 9 regional and international tenants and partners. This includes PT Wook Global Technology,PT Ikimura Indotools Centre,PT Ruiyuan Karawang Industrial Innovation and Development,PT Wonderful Food International,PT Brightgene Biomedical Indonesia,PT Binamitra Kwartasedaya,Zhengjia Henglin Co.,Ltd.,PT Sandin Heavy Equipment,and Dongguan JiaYaoXing Packing Products Co.,Ltd. Approximately 4,000 local jobs are expected to be created from this tranche alone.

KNIC aligns with the local government's commitment to economic and social progress. When fully completed,the project in its entirety is expected to create 40,000 new jobs locally,while contributing US$12 million in local taxes per year to Indonesia.

Airlangga Hartarto,Minister of Industry for Indonesia,said: "Today marks a significant milestone for both CFLD International (Indonesia) as well as Indonesia's industry. KNIC as one of the industrial zones plays a strategic role in encouraging industrial growth in this region. Moreover,this region is directed towards Industrial Estates 4.0. With the development of fairly progressive tenants,we believe this region is able to create many high value jobs and attract investment,thus creating a multiplier effect that drives economic growth in Karawang and its surroundings. We hope that KNIC will increasingly improve their services to industrial companies and support the improvement of the quality of competent industrial human resources."

Ridwan Kamil,Governor of West Java,said: "The development of KNIC in Karawang further underscores West Java's position as one of the key industrial hubs of Indonesia. As the 25th industrial zone in West Java,KNIC will create gainful employment and facilitate knowledge-sharing for our community and further stimulate the local economy. This will also naturally bolster investor confidence in our region and Indonesia. We look forward to working with CFLD International and its partners in KNIC to catalyse the nation's push towards Industrial Estates 4.0."

Zhao Hongjing,spokesperson of CFLD International said: "We are very pleased with the project progress and the momentum of new customers we are on boarding at Karawang. The strong,positive response to our New Industry Cities,both here and elsewhere by our stakeholders speaks to the differentiated business model at CFLD and our ability to deliver win-win outcomes for all. Through our unique integration of work-live-play with the express focus on developing industry,companies can optimise operational efficiencies and business growth. At the same time,this will catalyse the local economy and benefit communities."

Yu Ruisheng,Chairman of Qingdao Ruiyuan Engineering Group,said:"Karawang New Industry City sits at an advantageous location with well-rounded infrastructure. As the leading New Industry City operator,CFLD has been committed to the investment,development,construction and operation of New Industry Cities for 20 years,and it's achievements over the 20 years are truly remarkable. We are honored to work with CFLD International to jointly develop this industry park."

KNIC is one of the projects currently being undertaken by CFLD International,along with Tangerang New Industry City,also in Indonesia,and Nhon Trach New Industry City in Vietnam. CFLD International is the international arm of CFLD,which has a strong track record of NIC development and operation. As the end of 2018,CFLD's projects in more than 80 regions have attracted over 2,000 enterprises,generated 105,000 new jobs,contributed US$23.7 billion in GDP,and attracted cumulative investments of US$76.5 billion.

Karawang is at the heart of the Jakarta-Bandung economic corridor that connects two major cities in one of the world's fastest growing economies. It is served by all major transport nodes and has been a preferred location for global manufacturers,as well as one of the government's prioritised regions for strategic infrastructure development. More than 10,000 companies and manufacturers,including 8 of the top 10 consumer electronics companies and 5 of the top 10 fast-moving consumer goods (FMCG) companies in the world,operate in Karawang.

The groundbreaking ceremony was graced by more than 200 guests,Chairman of Commission 6 of the People's Representative Council.

Officials,partners and tenants at the ground-breaking ceremony. From left to right:

L.Wisnu Budiman,Managing Director ofPT Binamitra Kwartasedaya

Johannas,Commissioner ofPT Brightgene Biomedical Indonesia

Zheng Yiguang,Chairman ofPT Wonderful Food International

Yang Zhe,President of CFLD International

Cellica Nurrachadiana,Regent of Karawang Regency

Wang Liping,Minister-Counselor of the Economic and Commercial Counselor's Office of the Embassy of China in Indonesia

Ridwan Kamil,Governor of West Java

Airlangga Hartarto,Minister of Industry for Indonesia

Liang Wentao,Chairman of CFLD International

Dito Ganinduto,Indonesia

Wisnu Wijaya Soedibjo,Deputy Chairman of the Indonesia Investment Coordinating Board (BKPM)

Yu Ruisheng,Chairman of Qingdao Ruiyuan Engineering Group

Kang Zhaohui,President of CFLD Indonesia

Xu Longhua,Chairman ofPT Wook Global Technology

Jonathan Abas,General ManagerofPT Ikimura Indotools Centre

About CFLD International

CFLD International,headquartered in Singapore,is the international arm of CFLD,a global leading end-to-end master planner,creator and operator of full-scale New Industry Cities.

Over 20 years,CFLD has built industry cities that have transformed the lives of local communities and catalyzed unprecedented economic development in over 80 regions worldwide.

Total CFLD projects have created 105,000 jobs,contributed US$39.3 billion in GDP and attracted cumulative investments of US$72.9 billion by the end of 2018. With more than 80 regions worldwide,CFLD's total asset has exceeded US$59.7 billion,with 2018 marketing sales of US$23.7 billion. CFLD International is now applying its proven track record to catalyse sustainable regional economic growth in emerging markets around the world.

More information on CFLD International can be found at www.cfldi.com.

About Karawang New Industry City

Karawang New Industry City (Karawang NIC) is located east of Jakarta at Karawang County in Jawa Barat. It is adjacent to the Jakarta Metropolitan Area,the largest urban cluster in Southeast Asia,and located at the core of the Jakarta-Bandung-Surabaya Industry Corridor. Major industry parks in Indonesia are also located nearby.

Karawang NIC positions itself as an important manufacturing hub and an advanced technology innovation center of Indonesia. The first stage of the project covers an area of 205 hectares,including amenities such as industrial parks,industrial ports,logistics ports and one-stop industry service centers,as well as facilities such as water plants,sewage disposal plants,power distribution stations,roads,and greenery landscape.

Karawang NIC brings to life the concept that an industry park should house a comprehensive industrial value chain. It is specifically designed for food,and building materials industries. It also houses innovation parks for small and medium enterprises (SMEs).

More information on Karawang New Industry City can be found at https://www.knic.co.id/

APPENDIX: Our Tenants in KNIC

P.T. Vivan Teletama is the Indonesian subsidiary of Wook,a China-based multinational 3C digital accessories manufacturer and distributor. Vivan Teletama has been in Indonesia for 8 years and has more than 500 employees. It is present in 18 cities across Indonesia and has more than 1,000 retail shops in the country.

For more than 25 years,the IKIMURA group from Indonesia has constantly been involved in the development of Indonesia's manufacturing industry,especially in the supply of precision tools. Known for their strength in the automotive and motorcycle industry,IKIMURA proved that they are capable of providing excellent service and being a reliable supplier for other industries,such as Oil and Gas,Mining,and Aerospace.

PT Ruiyuan Karawang Industrial Innovation and Development is a subsidiary company of Qingdao Ruiyuan Engineering Group. Located in Qingdao Coast New Area,Qingdao Ruiyuan Engineering Group is founded in the year 1997,with total assets valued at US$1.5 billion and 4,500 employees. It has 38 subsidiary companies,two companies listed in China's new OTC stock market and a provincial technical center. Presently the business scope of the group includes: EPC contracts,survey and design,real-estate development,high-tech industry,healthcare,elderly care,modern finance,agriculture machineries,vehicle sales and repair,hotel and catering eco-agriculture,port and logistics,etc.

Founded in 2003,Wonderful Food is a confectionery manufacturer from China with brand authorization from Disney. With more than 100 categories of products and a strong sales network,Wonderful Food's products are sold well in Southeast Asia,Europe and America.

BrightGene is a research driven biopharmaceutical company that engages in the R&D and manufacturing of innovative medicine as well as special generic APIs and FDFs with primary strategic focus on the regulated market.

Established in 1995,Binamitra Kwartasedaya is a construction company specialising in storage units and factory facilities.

Having operations throughout Indonesia,Sandin Heavy Equipment,also known as Sandin,is a company which sells maintenance equipment as well as provides service and repair. Sandin uses the Standard Operational Procedure to optimize maintenance and lengthen the operational life of its equipment.

Dongguan JiaYaoXing Packaging Products Co.,or JYX,is an affiliate of Hong Kong JiaJieXing Group Co.,Ltd. which is a high-end,green,eco-friendly,professional packaging solution provider for the whole industrial chain. Focusing on the packaging business for more than 20 years,JYX provides services for many of the world's top 500 most famous brands,such as Estee Lauder,L'Oreal,SIEMENS,Harman Kardon,China Mobile,etc.

For over 2 decades,Zhejiang Henglin Co.,Ltd. has been committed to research,develop,manufacture,and sell office chairs,solid wood furniture,sofas,massage chairs,and other furniture accessories. Its products are shipped to more than 80 countries and regions such as the United States,Germany,France,Japan,and Singapore. The company has plans to expand their manufacturing bases in Asia,including Indonesia,to meet the demands of their products.

Photo - https://photos.prnasia.com/prnh/20190620/2503628-1