• AISA net profit grew 270.11% yoy in 2024
FKS Food Sejahtera (AISA) reported a significant financial performance improvement in 2024,
with net profit surging 270.11% yoy to IDR 69.47B from IDR 18.77B in 2023. This growth was
driven by a 12.94% increase in revenue, reaching IDR 1.92T, mainly from snack foods (IDR 1.26T)
and staple foods (IDR 768.91B). Despite a 7.07% rise in the cost of goods sold to IDR 1.21T,
AISA’s gross profit climbed 25.12% to IDR 707.69B. However, selling and distribution expenses
increased by 36.99% to IDR 382.08B and general and administrative expenses rose by 4.62%
to IDR 190.77B. AISA’s operating profit grew 75.51% yoy to IDR 134.23B, despite a 75.40% drop
in other income and an 84.23% reduction in other expenses. (Kontan)
• IMAS to introduce a new Chinese EV brand
Indomobil Sukses Internasional (IMAS), through its subsidiary Indomobil National Distributor,
is set to introduce a new Chinese electric vehicle (EV) brand to the Indonesian market. CEO
Tan Kim Piauw confirmed ongoing discussions with various brands, including those under
Stellantis, with an official announcement expected soon. One of the brands mentioned is
Leapmotor, a Hangzhou-based EV manufacturer known for its advanced technology,
especially after Stellantis acquired a 21% stake in the company. Indomobil aims to introduce
at least three new brands within the Stellantis ecosystem this year, adding to its existing
Citroen and Jeep lineup. Indomobil is also implementing the Stellantis Brand House concept,
where multiple brands share a large showroom while maintaining separate areas, a model
already successful in Europe. Its after-sales services will feature certified technicians capable
of handling multiple brands under Stellantis. While details on Leapmotor’s launch strategy
remain undisclosed, the company is considering introducing the brand at Gaikindo Indonesia
International Auto Show (GIIAS) 2025, depending on market conditions and regulatory
approvals. (Kontan)
• TPIA revenue declined 17.4% yoy in 2024
Chandra Asri Pacific (TPIA) reported a decline in its revenue by 17.4% yoy to USD 1.79B. The
chemical segment contributed USD 1.69b, while infrastructure added USD 100.9M. Cost of
revenue fell 16.4% yoy to USD 1.74B, but EBITDA dropped significantly by 41.5% yoy to USD
76.1M. Net loss after tax surged 81.9% yoy to USD 57.3M. TPIA remains optimistic about longterm
growth, supported by its inclusion in Indonesia’s National Strategic Projects (PSN) with
its new Chlor Alkali – Ethylene Dichloride (CA-EDC) plant in Cilegon. The facility, with a
production capacity of 400,000 tons of caustic soda and 500,000 tons of ethylene dichloride
(EDC), aims to reduce Indonesia’s reliance on chemical imports. Caustic soda will support
industries like alumina refining, nickel processing, and EV battery production, while EDC will
be essential for PVC manufacturing in the construction sector. (Kontan)
