GPSO Enters Automotive Components Industry, Acquires Cast Iron Factory Assets for Rp 78.5 Billion
Jakarta - The listed company in machinery trading and survey services, PT Geoprima Solusi Tbk (GPSO), is preparing for a major business transformation following the entry of its new controlling shareholder, PT PIMSF Pulogadung, which is part of the Tjokro Group.
According to a disclosure to the Indonesia Stock Exchange (BEI) cited on Monday (27/4/2026), the company plans to shift its business focus to become a key player in the integrated mechanical components and machining industry.
GPSO will change its primary business activities from wholesale machinery trading and survey services to the motorcycle components industry, real estate, and wholesale industrial machinery trading. This step is part of the Tjokro Group’s vision to build an integrated mechanical solutions ecosystem from upstream to downstream.
To support this transformation, the company will acquire fixed assets from PT Jakarta Indah Casting (JIC). The assets to be taken over include land measuring 15,400 square metres in Bekasi, factory buildings, and cast iron production machinery (ferro casting).
For funding, the company plans to carry out a capital increase without pre-emptive rights (PMTHMETD) or private placement by issuing 66.674 million new shares, equivalent to 10 per cent of the paid-up capital.
All proceeds will be used to finance part of the JIC asset purchase, while also strengthening the capital structure and improving share liquidity on the exchange.
Based on the feasibility study, this transformation plan shows positive financial prospects. The Internal Rate of Return (IRR) is projected to reach 34.77 per cent, far above the 14 per cent discount rate.
The plan will seek approval at an Extraordinary General Meeting of Shareholders (EGMS) scheduled for 2 June 2026. Given that the transaction is material and affiliated, approval from independent shareholders is a key factor.
Synergies with the Tjokro Group, which has over 57 years of experience in the mechanical industry, are expected to open opportunities for GPSO to enter the original equipment manufacturer (OEM) market for automotive and heavy equipment.
If it proceeds as planned, GPSO has the potential to transform from a trading-based company into a high value-added producer that can strengthen the company’s fundamental performance in the long term.