Indonesia: Selamat Sempurna readies $22m for SEA expansion & acquisitions

Indonesian automotive manufacturer Selamat Sempurna says it is readying up to Rp 300 billion ($22 million) to expand its presence into new markets in Southeast Asia. The company plans to acquire distributor firms in neighbouring countries such as Singapore, Thailand and Vietnam.

Finance director Ang Andri Pribadi said the move is part of the company’s strategy to form an integrated upstream-to-downstream business line in order to strengthen its foothold in the region.

“We are readying half of our cash flow, which is now at the level of Rp 400 – 500 billion, for acquisitions and expansion. So, we’re going to (inject) maybe around Rp 200 – 300 billion for this purpose,” Pribadi stated in Jakarta, adding that it might look for bridge loans, if needed.

Selamat Sempurna exports to more than 115 countries worldwide, with Singapore as its biggest market.

Selamat Sempurna is the flagship of ADR Group (Automotive Division). The company claims to be one of the largest filter and radiator manufacturers in the region. It manufactures filters, radiators, coolers, condensers, brake pipe, fuel pipes, fuel tanks, exhaust systems, and press parts. It owns the Sakura filter trademark that has been registered in more than 90 countries.

The firm has been a public company since 1996, and is now listed on the Indonesia Stock Exchange (IDX). It owns a 70 per cent stake in Panata Jaya Mandiri, and a 15 per cent stake in POSCO IJPC, a joint venture company with Posco and Daewoo International Corporation, Korea. The firm also partners Japan-based Tokyo Radiator Manufacturing Co Ltd.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.