Keppel, a Singaporean conglomerate, and Manulife, a Canadian multinational insurance company, agreed to form a $200m joint venture which will focus on Indonesia’s fast-growing logistics property sector. "We are thrilled to partner with Alpha and MMP for our first real estate investment in Indonesia. The quality of the assets is well regarded and, along with the country’s positive long-term macro and demographics prospects, this acquisition fits well with our long-term investment strategy for the Asia Pacific market and will surely bring added value to us and to Indonesia in the long run," Ryan Charland, Manulife President Director & CEO of Indonesia.