• ACES targets name change to AZKO to be completed in 1Q25
Aspirasi Hidup Indonesia (ACES) targets to change the store name from Ace Hardware to
AZKO to be completed in the first quarter of 2025. ACES itself currently has 245 outlets in 75
cities throughout Indonesia. This name change is part of the company’s larger strategy to
introduce a new identity and strengthen its market position following management’s
decision not to continue licensing collaboration with ACE Hardware International Holdings.
However, although the change of store name and signage will be carried out in a short time,
changing the overall concept of the store will take longer at around 3 years. This new concept
will involve a number of in-store updates, including the creation of an inspiration zone
supported by interactive digital-first technology, as well as the addition of a kid’s playground.
This change also aligns with the company’s commitment to strengthening environmental
sustainability. AZKO stores will support the electronics recycling program, which will accept
electronic items that are no longer used and give discounts of around 10% for purchasing
new products. This program, which has been running in several stores for two years, will now
be expanded to all AZKO stores during the transition period. (Kontan)
• BUKA’s physical product sales down for the past three years
Bukalapak.com (BUKA) conveyed that the contribution of physical product sales was only 3%
of the company’s revenue. Bukalapak Corporate Secretary, Cut Fika Lutfi, said that BUKA had
made the best efforts. However, the physical product business line on the BUKA application
and website continues to show a decline in revenue contribution and growth over the last
three years due to changes in market dynamics and industry challenges. On the other hand,
operational costs for this business line continue to show a significant increase. The
termination of BUKA’s physical product services supports BUKA’s efforts to achieve positive
EBITDA. The company hopes that this step can have a good impact on operational conditions
and financial performance in the future because BUKA can achieve quite significant
operational cost efficiencies. BUKA application and website, as well as other marketplace
applications and websites owned by BUKA, as well as Bukalapak Partners, will continue to
operate and can be accessed by users and consumers for other services that previously
existed, including virtual products, gaming, and investment. (Bisnis indonesia)
• SRAJ allocated IDR 1T capex budget FY25
Sejahteraraya Anugrahjaya (SRAJ) has prepared a capex budget of IDR 1T in 2025, which will
be used to complete several development projects such as to complete the construction of
Mayapada Hospital East Jakarta, Mayapada Hospital South Jakarta Expansion/Tower 3 and
Mayapada Apollo Batam International Hospital, as well as allocations for hospital units
currently operating. SRAJ has also planned expansion in 2025 with a focus on several
development projects, such as the construction of a hospital unit that began in 2024, namely
Mayapada Hospital East Jakarta (MHJT) in Cakung. Then the construction of an international
hospital unit, which will start immediately in 2025, namely Mayapada Apollo Batam
International Hospital (MABIH) in the Batam Special Economic Zone in collaboration with
Apollo Hospitals India. Lastly, the construction of Tower 3 of Mayapada Hospital, South
Jakarta (MHJS). The hospital is expected to be operational in 2026. (Kontan)
