Latest news with #Astra
The Star
a day ago
- Business
- The Star
Astra to acquire Mega Manunggal Property
Logistics expansion: Heavy traffic on a street during the morning rush hour in Manunggal Property is an Indonesia-based company focusing on real estate and storage, as well as operating warehouses. — Bloomberg JAKARTA: Publicly listed conglomerate PT Astra International (ASII), through its subsidiary PT Saka Industrial Arjaya (SIA), is set to acquire an 83.67% stake in warehouse company PT Mega Manunggal Property (MMLP). SIA plans to purchase MMLP shares from PT Suwarna Arta Mandiri, which holds the largest stake at 49.2%; Bridge Leed Ltd, which owns 17.51%; and several minority shareholders. MMLP corporate secretary Jeremy Muliawan said the acquisition process had reached the stage of a conditional share purchase agreement (CSPA) on Monday. 'Completion of the transaction based on CSPA is subject to fulfilment of all conditions precedent in the CSPA. 'If the transaction based on CSPA is completed, such completion will result in the transfer of control over the company to the purchaser,' Jeremy stated in the company's information disclosure released on Tuesday. Following the transaction, SIA, as the new controlling shareholder, will conduct a mandatory tender offer in accordance with provisions set out in Financial Services Authority Regulation No. 9/2018 on the acquisition of public companies and prevailing capital market regulations. Astra International corporate secretary Gita Tiffani Boer also wrote in an information disclosure on Tuesday that the purpose of the transaction was to support SIA's business development and investment. Mega Manunggal Property is an Indonesia-based company focusing on real estate and storage, as well as operating warehouses. It currently manages or owns 13 warehouses across Greater Jakarta and East Java. Launched on the Indonesia Stock Exchange in 2015, its market capitalisation now stands at 3.96 trillion rupiah, which would give Astra's acquisition of 83.67% of the shares a value of approximately 3.31 trillion rupiah. During Tuesday's second trading session, MMLP shares were down 2.56% at 570 rupiah a piece. However, the stock is up about 15% since the beginning of this year. Meanwhile, ASII's shares have declined almost 5% since the beginning of the year. During the second trading session on Tuesday, they were changing hands at 4,710 rupiah per share, down 1.05%. The company previously reported a decline in net profit for the first quarter of financial year 2025, citing poor economic conditions, a weak automotive industry and the downward trend in coal prices. The company booked a net profit of 6.93 trillion rupiah in the first three months of 2025, down from 7.46 trillion rupiah noted in the same period last year. Astra president director Djony Bunarto Tjondro stated that the impact from the drop in performance in the automotive sector was partly offset by a solid performance in other segments, which 'reflected the resilience of Astra's diversified portfolio'. 'We will continue to monitor macroeconomic developments while maintaining financial and operational discipline across the group. 'Supported by a strong balance sheet, the group's diversified portfolio is well-positioned to seize long-term growth opportunities,' he wrote in the company's first quarter report. Astra, one of Indonesia's largest diversified conglomerates, has business arms in various sectors, including the automotive industry, financial services, mining, energy, infrastructure and logistics, and information and technology, as well as property. — The Jakarta Post/ANN
The Star
2 days ago
- Business
- The Star
AstraZeneca vows to spend US$50bil on US manufacturing boost
LONDON: AstraZeneca Plc plans to invest US$50bil in the United States before 2030, becoming the latest European pharma company to ratchet up spending in the country ahead of potential tariffs on imported medicines. The investment will go towards manufacturing as well as research and development, Astra said in a statement. It includes US$4bil for a new facility in Virginia that will make drugs for chronic diseases, Kevin Hassett, director of the US National Economic Council, said on Monday at an event in Washington. 'With the completion of this investment, substantially all of AstraZeneca's pharmaceuticals sold in the United States will be produced in the United States,' he said. Astra will also manufacture its experimental weight-loss pill at the facility in Virginia, following an earlier pledge from rival Eli Lilly & Co, which is also planning to make its obesity pill in the United States. The announcement comes as European drug companies rush to highlight their US investments with the aim of mitigating the impact of tariffs from President Donald Trump. Astra already announced plans in November, a week after Trump's election, to invest US$3.5bil in the United States by the end of 2026, noting at the time that it employs nearly 18,000 people in the country. The company said the latest investment announcement is in addition to that earlier amount. Since Trump's election, European competitors have touted ever-larger spending plans. Switzerland's Novartis AG in April announced plans for US$23bil in US-based infrastructure spending, while cross-town rival Roche Holding AG said it would invest US$50bil. In May, French drugmaker Sanofi announced intent to invest at least US$20bil in the United States by 2030. Pascal Soriot, who's been chief executive officer of Astra since 2012, had urged tariff restraint from US policymakers. This spring, he recommended that US officials exempt medicines from tariffs, arguing that tax incentives are a better way to attract investment in drug development and manufacturing. On Monday, Soriot said he understands the need for countries to have medicines manufactured domestically. 'It's a question of national security,' he said. 'This is a vision that the president and his administration have put out there, and a vision that we totally understand, totally support, and the tariffs are accelerating a movement that we would have made in any case.' Trump has proposed various timelines for tariffs on pharmaceuticals, most recently floating duties that would start as soon as Aug 1. The president said he expects to give companies a year to bring manufacturing to the United States before imposing tariffs as high as 200%. Meanwhile, Soriot has raised concerns in the United Kingdom about his company's commitment to its home country. He has long complained about the United Kingdom's regulatory environment, which he says is a threat to hold the nation back from staying competitive with the United States and China. In January, Astra abandoned plans for a £450mil vaccine manufacturing plant in Liverpool. The company operates 17 manufacturing sites in 12 US states. Earlier this month, British paper The Times reported that Soriot is considering moving the company's stock listing to the United States. — Bloomberg
Business Times
3 days ago
- Business
- Business Times
AstraZeneca vows to spend US$50 billion on US manufacturing, development
[MUNICH/WASHINGTON] AstraZeneca plans to invest US$50 billion in the US before 2030, becoming the latest European pharma company to ratchet up spending in the country ahead of potential tariffs on imported medicines. The investment will go towards manufacturing as well as research and development, Astra said in a statement. It includes US$4 billion for a new facility in Virginia that will make drugs for chronic diseases, Kevin Hassett, director of the US National Economic Council, said on Monday (Jul 21) at an event in Washington, DC. 'With the completion of this investment, substantially all of AstraZeneca's pharmaceuticals sold at the United States will be produced in the United States,' Hassett said. Astra's announcement comes as European drug companies rush to highlight their significant footprints in the US in hopes of mitigating the impact of any potential tariffs from US President Donald Trump. Astra already announced plans in November, a week after Trump's election, to invest US$3.5 billion in the US by the end of 2026, noting at the time that it employs nearly 18,000 people in the country. Since then, European competitors have touted even larger spending plans. Switzerland's Novartis in April announced plans for US$23 billion in US-based infrastructure spending, while cross-town rival Roche Holding said it would invest US$50 billion. In May, French drugmaker Sanofi announced intent to invest at least US$20 billion in the US by 2030. Pascal Soriot, who's been chief executive officer of Astra since 2012, has also urged tariff restraint. This spring, he recommended that US officials exempt medicines from tariffs, arguing that tax incentives are a better way to attract investment in drug development and manufacturing. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Trump has proposed various timelines for tariffs on pharmaceuticals, most recently floating duties that would be imposed as soon as Aug 1. The president said that he expects to give companies a year to bring manufacturing to the US before imposing tariffs as high as 200 per cent. Meanwhile, Soriot has raised concerns in the UK about his commitment to the home country. He has long complained about the UK's regulatory environment, which he says is a threat to hold back the UK from staying competitive with the US and China. In January, Astra abandoned plans for a £450 million (S$777 million) vaccine manufacturing plant in Liverpool. The company operates 17 manufacturing sites in 12 US states. Earlier this month, British paper The Times reported that Soriot is considering moving the company's stock listing to the US. That would be a major blow to the UK's equity markets, which have endured similar defections from other companies in recent years. Under Soriot's leadership, Astra's market value has more than tripled as the company has become a global powerhouse in cancer medicines. It's also built up a significant drug pipeline for other areas including cardiovascular, renal and metabolic diseases. BLOOMBERG
The Irish Sun
4 days ago
- The Irish Sun
Two dead including 25yo driver after Vauxhall Astra hits wall as cops launch appeal for information
TWO people including a 25-year-old driver have died after a Vauxhall Astra crashed in the early hours of Sunday morning in Chester. Police and paramedics rushed to the scene after the horror collision in Eccleston - which saw the car smash into a wall. 2 Two people have died following a horror crash in Chester Credit: Alamy 2 A car collided with a wall on Hill Road in Eccleston, pictured Credit: Googlemaps The tragic crash occurred on Hill Road at 1:40am in the morning - before cops hurried to the scene. A 47-year-old man who was a passenger in the vehicle suffered serious injuries and was taken to hospital. But he sadly passed away later on, Cheshire police confirmed on Monday. The 25-year-old driver of the black Astra was tragically pronounced dead at the scene. Police said the driver was from Smallwood while the passenger was from Rossett. Local cops are also appealing for witnesses of the crash to come forward with any information. The Cheshire force also said that both the men's next of kin of were being supported by specialist officers. Emergency services who arrived to the scene found a black Vauxhall Astra which had collided with a wall. Most read in The Sun Cheshire Fire and Rescue Service sent two engines from Chester to the scene. Officers with the constabulary's serious collision investigation unit are appealing for any witnesses to contact them. Inspector Steve Griffiths said: "This was an absolutely tragic incident, and our thoughts are with the families of the men involved." He added: "Enquiries in relation to the collision are ongoing and as part of our investigation we're keen to hear for anyone who witnessed the collision. "The same goes for anyone with any video footage of which may aid the investigation." Any witnesses of the crash should call 101 and quote IML 2137070 - or give details via the website. More to follow... For the latest news on this story keep checking back at The Sun Online is your go-to destination for the best celebrity news, real-life stories, jaw-dropping pictures and must-see video. Read more on the Irish Sun Like us on Facebook at
Scottish Sun
4 days ago
- Scottish Sun
Two dead including 25yo driver after Vauxhall Astra hits wall as cops launch appeal for information
HORROR CRASH Two dead including 25yo driver after Vauxhall Astra hits wall as cops launch appeal for information Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) TWO people including a 25-year-old driver have died after a Vauxhall Astra crashed in the early hours of Sunday morning in Chester. Police and paramedics rushed to the scene after the horror collision in Eccleston - which saw the car smash into a wall. Sign up for Scottish Sun newsletter Sign up 2 Two people have died following a horror crash in Chester Credit: Alamy 2 A car collided with a wall on Hill Road in Eccleston, pictured Credit: Googlemaps The tragic crash occurred on Hill Road at 1:40am in the morning - before cops hurried to the scene. A 47-year-old man who was a passenger in the vehicle suffered serious injuries and was taken to hospital. But he sadly passed away later on, Cheshire police confirmed on Monday. The 25-year-old driver of the black Astra was tragically pronounced dead at the scene. Police said the driver was from Smallwood while the passenger was from Rossett. Local cops are also appealing for witnesses of the crash to come forward with any information. The Cheshire force also said that both the men's next of kin of were being supported by specialist officers. Emergency services who arrived to the scene found a black Vauxhall Astra which had collided with a wall. Cheshire Fire and Rescue Service sent two engines from Chester to the scene. Officers with the constabulary's serious collision investigation unit are appealing for any witnesses to contact them. Inspector Steve Griffiths said: "This was an absolutely tragic incident, and our thoughts are with the families of the men involved." He added: "Enquiries in relation to the collision are ongoing and as part of our investigation we're keen to hear for anyone who witnessed the collision. "The same goes for anyone with any video footage of which may aid the investigation." Any witnesses of the crash should call 101 and quote IML 2137070 - or give details via the website. More to follow... For the latest news on this story keep checking back at The Sun Online is your go-to destination for the best celebrity news, real-life stories, jaw-dropping pictures and must-see video. Like us on Facebook at and follow us from our main Twitter account at @TheSun.
