PT. Astra Otoparts Tbk Business Report FY ended Dec. 2019

Financial Overview

(in billion IDR)

	FY ended Dec. 31, 2019	FY ended Dec. 31, 2018	Rate of Change (%)
Sales	15,444.8	15,356.4	0.6
Net Income	739.7	611.0	21.1

New Company

-NTN Corporation (NTN) and PT. Inti Ganda Perdana (IGP) of Astra Group officially signed a joint venture agreement to manufacture constant velocity joint (CVJ), the essential component for front-wheel drive vehicles (FF vehicles) whose demand is expanding in automotive market in Indonesia. NTN and IGP will establish a new company with IDR 120 billon capital, 51% shares by IGP and 49% by NTN, namely PT. Astra NTN Driveshaft Indonesia based on the joint venture agreement, and will construct a plant, floor area of 8,500 square meters, located at KIM industrial park in Karawang district of western Java with the aim of starting mass production in August 2020. (From a press release on May 24, 2019)