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nlike other fund management companies, PT Aberdeen Asset Management is not looking to infrastructure companies as its preferred investment destinations, given the long completion periods of infrastructure projects.

The company'€™s head of investments, Bharat Joshi, said on Tuesday that infrastructure projects such as toll-road construction required years to complete before the companies could charge the facilities'€™ users and begin making a profit.

'€œHowever, we invest in cement companies because demand for their products will continue during the infrastructure construction period,'€ Joshi told reporters in Central Jakarta.

Indonesia'€™s Aberdeen Asset Management, part of the Scotland-based Aberdeen Asset Management Plc, currently has shares of two cement companies in its fund portfolio, namely those of Indonesia'€™s second-largest cement firm Indocement Tunggal Prakarsa and cement manufacturer Holcim Indonesia.

Joshi expressed optimism regarding the bright prospects of the cement industry, with several government infrastructure projects having kicked off last year.

'€œAs long as the projects develop, the cement industry will improve. I'€™m very positive ['€¦],'€ he said, pointing to the recently launched Jakarta-Bandung high-speed railway project as an example.

The Indonesian Cement Association reported an annual increase of 0.9 percent in domestic cement consumption to 60.44 million tons last year.

The fund manager would, however, continuously watch infrastructure companies to find out which company got which project, before proceeding to analysis, but not with a view to buy their stocks, Joshi said.

In addition to the cement companies, Aberdeen Asset Management would also pick firms that '€œget their cash immediately'€, noting as examples those in the banking, fast-moving consumer goods (FMCG) and telecommunications sectors.

Lower fuel prices and cuts to the inflation rate and the Bank Indonesia (BI) benchmark interest rate had improved consumer sentiment, he said.

Indonesia recorded a 3.35 percent inflation rate throughout 2015, the lowest level since 2009. The rate was among factors that prompted BI to cut its interest rate by 25 basis points (bps) to 7.25 percent earlier this month.

Recently, state-owned oil and gas firm Pertamina cut the price of diesel and Premium-branded gasoline.

A BI consumer survey in December revealed an increase in the consumer confidence index to 107.5 from 103.7 recorded in November. An index above 100 expresses optimism while below 100 shows pessimism.

'€œPeople have started consuming,'€ Joshi said.

Meanwhile, Aberdeen Asset Management president director Sigit Pratama Wiryadi emphasized that his firm would still selectively pick stocks on an individual basis to ensure the company in question was sustainable.

'€œWe look at their performances, from the very beginning to the latest results, to ensure they can make a profit for the entirety of their operation periods,'€ he said.

Joshi and Sigit both expressed optimism that the Indonesian would see improvement this year, as the government had introduced investor-friendly economic policy packages that were likely to spur investment.

The government has announced eight economic policy packages since September last year, aiming at cutting investment red tape, simplifying business regulations and offering tax incentives for businesses, among other policies.

'€œAs a long-term investor, we think that Indonesia is on the right path toward progress,'€ said Joshi.