PT Bosowa Corporation

The year 2008 has been a milestone year for Bosowa Corporation, as all of our business groups attained increases in revenue targets. Notably is our automotive division which achieved significant sales increase following two year sales decline. In 2008, the automotive division sold 4,053 units or an increase of 78%from its 2007 total unit sales. 

The cement division, the ‘backbone’ company of Bosowa, also recorded 25% revenue increase in 2008. However, a more significant achievement was the company’s success in securing a debt restructuring with its bank creditors. The restructuring deal would enable the cement division to be more sustainable for support from financiers to expand and develop line 2 for its plant in Maros, South Sulawesi.

Bosowa’s other business divisions including infrastructure, property and financial services also recorded growth revenues of 29%, 97%, and 50 % respectively. The 11.5 km Section Four Toll Road (JTSE), which was officially inaugurated for operation in September 2008, is Bosowa’s latest contribution to the economic growth of South Sulawesi. The acquisition of Makassar’s most prestigious hotel, the Imperial Aryaduta in June 2008 is further evidence of Bosowa’s commitment to the city’s fast growing tourism development. Bosowa’s development projects such as the Bosowa Tower, Hospital and Baddoka golf resort are scheduled to be completed by 2009.

Despite the commendable growth, Bosowa remains cautious of the upcoming economic crisis in 2009. The global crisis or the ‘economic tsunami’ as some would call the current world financial downfall has taken its toll in form of recessions in the US, Europe and the industrialized countries in Asia. It is predicted South East Asia and Indonesia would feel the pinch by the first quarter of 2009. 

To face the inevitable, Bosowa has taken all the necessary plan of actions. The 2009 Bosowa Corporation Business Plan clearly stipulates the major challenges of 2009. Efficiency measures in all of the group’s Business Divisions and Corporate Functions are being carried out across the board. Bosowa’s vision to achieve excellence in all departments remains as the company’s objective to become one of Indonesia’s leading company in the future.

We believe in that in every crisis, there exist an opportunity. With that in mind, Bosowa will keep on moving forward towards achieving EXCELLENCE.