OREANDA-NEWS. ITOCHU Corporation announced today that PT. BENEFIT ONE INDONESIA, which mainly operates a points-based incentive program in Indonesia, has reached an agreement to form a capital alliance with PT. Karang Mas Investama, an Indonesian-based investment company which forms part of Midplaza Holdings (hereinafter, “KMI”), to boost sales activities and service development in Indonesia.

Benefit One Inc. and ITOCHU Corporation established Benefit One Asia Pte. Ltd. (60% owned by Benefit One and 40% owned by ITOCHU; hereinafter "Benefit One Asia") in Singapore of October 2013, to provide fringe benefit services for companies in Asia.

In May 2014, Benefit One Asia established Benefit One Indonesia in Indonesia, a region which is experiencing continuing economic growth. Benefit One Indonesia began providing the Incentive Point program in August. The Incentive Point program allows employers to award points to employees as incentives for positive performance or behaviors such as efforts to improve themselves or good attendance records. The employees can then exchange the points with products provided by Benefit One’s platform.

Benefit One Indonesia’s alliance with PT. Karang Mas Investama will further accelerate its growth in Indonesia by boosting sales activities to acquire new customers utilizing KMI’s network, strengthen service development, and draw on KMI’s management expertise to strengthen personnel, legal and technology related matters of Benefit One Indonesia. PT. Karang Mas Investama is an investment company affiliated with Midplaza Holdings, a holding company engaged in a range of businesses spanning from property, information technology, and hospitalities, among others.