PT Acset Indonusa Tbk Company Profile

Background

PT Acset Indonusa Tbk, established on January 10, 1995, is a prominent Indonesian construction company specializing in building, civil, and marine works. The company has evolved into one of Indonesia's leading building contractors, focusing on the development of commercial, residential, and industrial buildings. Notable projects include Pacific Place, Bahana Office Tower, and Gandaria City Mall in Jakarta.

Key Strategic Focus

Acset Indonusa offers integrated construction services encompassing foundation and diaphragm wall works, controlled demolition of high-rise buildings, high-rise premium quality projects, civil engineering, infrastructure-related and power plant projects, full-scope construction services, and construction support services such as form-work systems, concrete pumping systems, passenger hoists, and tower cranes. The company also provides supporting equipment for construction projects, including sales and maintenance of heavy equipment.

Financials and Funding

As of September 2024, Acset Indonusa reported a market capitalization of approximately Rp1.6 trillion. The company's revenue for the trailing twelve months was Rp3.34 trillion, with a net loss of Rp508.73 billion. The debt-to-equity ratio stood at -420.2%, indicating negative shareholders' equity.

Pipeline Development

In the third quarter of 2023, Acset Indonusa secured new contracts totaling IDR 2.41 trillion, a significant increase from IDR 1.11 trillion in the same period the previous year. Major projects include the Probolinggo & Banyuwangi Toll Road construction, Cipali Toll Widening, and South Japek Toll Road construction. Revenue contributions were 42% from the Infrastructure sector, 25% from the Foundation sector, and 33% from the Building sector.

Technological Platform and Innovation

Acset Indonusa integrates specialist work with general construction to offer competitive costs. The company has completed projects such as Pacific Place, Thamrin Nine, Gandaria City, Kota Kasablanka, West Vista Jakarta, Alila Seminyak, and the Jakarta-Cikampek II Elevated Toll Road.

Leadership Team

Idot Supriadi: Chief Executive Officer since December 31, 2019.

David Widjaja: Director of Finance/CFO since April 5, 2021.

Davy Nanse: Chief Technology Officer.

Kadek Ratih Paramita: Corporate Secretary since October 30, 2022.

Soeharsono Tjatur Nugroho: Human Resources Officer since April 5, 2022.

Leadership Changes

Recent appointments include David Widjaja as Director of Finance/CFO on April 5, 2021, and Kadek Ratih Paramita as Corporate Secretary on October 30, 2022.

Competitor Profile

Market Insights and Dynamics

The Indonesian construction industry is experiencing growth, driven by infrastructure development and urbanization. Acset Indonusa operates in a competitive market with several key players.

Competitor Analysis

PT Paramita Bangun Sarana Tbk (IDX:PBSA): Market cap of Rp1.1 trillion.

PT Maharaksa Biru Energi (IDX:OASA): Market cap of Rp1.1 trillion.

PT Total Bangun Persada (IDX:TOTL): Market cap of Rp2.3 trillion.

PT Adhi Karya (Persero) (IDX:ADHI): Market cap of Rp2.1 trillion.

Strategic Collaborations and Partnerships

In 2015, Acset Indonusa became part of the Astra Group after being acquired by Karya Supra Perkasa (KSP), a subsidiary of United Tractors. This partnership has strengthened the company's market position and expanded its capabilities.

Operational Insights

Acset Indonusa's integration into the Astra Group has enhanced its competitive advantages, allowing it to leverage synergies within the group to strengthen its market position.

Strategic Opportunities and Future Directions

Acset Indonusa remains focused on completing ongoing contracts and is optimistic about future opportunities in infrastructure, foundations, and building projects. The company continues to seek involvement in projects aligned with its competencies.