Asian Paints Exits Indonesia Sells Business to Omega Property for $5.6 Mn
Paint

Asian Paints Exits Indonesia Sells Business to Omega Property for $5.6 Mn

Asian Paints has announced its decision to exit the Indonesian market by selling its business to Australia’s Omega Property Investments for $5.6 million. This move comes after nine years of operations in Indonesia, with the company facing persistent difficulties in achieving growth, maintaining profitability, and controlling costs.

Despite implementing various strategies to expand its presence in Indonesia, the business remained small-scale and had minimal impact on the company’s overall international operations. Asian Paints operates in 15 countries and derives 9 per cent of its revenue from international markets, with the bulk of its earnings coming from its strong position in the Indian market.

The contribution of the Indonesian operations to Asian Paints’ consolidated revenue was just 0.24 per cent, underscoring its limited role within the company’s global portfolio. The company disclosed that it will recognise a loss of $10.4 million from the transaction, with its Indonesian assets valued at $19 million as of the fiscal year 2024, as per its latest annual report.

News source: Business World

Asian Paints has announced its decision to exit the Indonesian market by selling its business to Australia’s Omega Property Investments for $5.6 million. This move comes after nine years of operations in Indonesia, with the company facing persistent difficulties in achieving growth, maintaining profitability, and controlling costs. Despite implementing various strategies to expand its presence in Indonesia, the business remained small-scale and had minimal impact on the company’s overall international operations. Asian Paints operates in 15 countries and derives 9 per cent of its revenue from international markets, with the bulk of its earnings coming from its strong position in the Indian market. The contribution of the Indonesian operations to Asian Paints’ consolidated revenue was just 0.24 per cent, underscoring its limited role within the company’s global portfolio. The company disclosed that it will recognise a loss of $10.4 million from the transaction, with its Indonesian assets valued at $19 million as of the fiscal year 2024, as per its latest annual report. News source: Business World

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?