Jakarta. Astra International, also known by its ticker symbol ASII, announced Thursday that its capital expenditure (capex) had hit Rp 12.3 trillion in the first half of 2024.

“After some adjustments, we have decided to set aside Rp 37 trillion in capex for this year. As of the first half, we have used up Rp 12.3 trillion,” Astra’s President Director Djony Bunarto Tjondro said.

About 70 percent of what ASII had used up went to heavy machinery and mining businesses. The rest were scattered in plantation business and sales operations.

Going forward, Djony said ASII’s investment would focus on improving the company’s internal performance. To expand its businesses, ASII has also invested in the digital bank Bank Saqu, as well as the second-hand car marketplace OLX. ASII is eyeing other sectors, namely healthcare services, infrastructure, and non-coal industries.

Automotive Business

The domestic automotive market has witnessed the entry of many new players, particularly those from China. ASII’s director Henry Tanoto said that the company boasted a comprehensive portfolio to compete in the market with products ranging from internal combustion engine cars and hybrids to battery electric vehicles (BEVs). The products also cater to all sorts of customers, starting from those looking for luxury cars to those searching for a more affordable alternative. As of June 2024, Astra holds 57 percent of the market share in the national automotive industry.

“Our market share used to be around 52 percent back in 2019. So the public has been quite excited [for our products],” Henry said.

According to Henry, ASII also has a comprehensive business ecosystem to better serve its customers.

"We vow to provide better services and in accordance with the needs of the Indonesian people. We have a large network of both sales and after-sales, there is also an ecosystem that includes leasing, insurance, and trade-in new cars,” Henry said.

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