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Jakarta Post

Indonesia: An industry-led growth economy

  • Cyrillus Harinowo Hadiwerdoyo

Jakarta   /   Fri, January 4 2013   /  09:10 am

Arwana may not be a household name yet in Jakarta. Yet, the ceramic tiles manufacturer has been a stellar performer in the stock market. At the closing of stock trading on Dec. 28, 2012 its stock price shot up to Rp 1,640 (17 US cents), more than four times its price at the beginning of the year.

In the ceramic tile industry, Arwana is truly an awakening giant. Founded in 1995, the company now boasts a production capacity of over 40 million square meters annually, ranking second only to Mulia Ceramics.

But, with plans to open new factories in South Sumatra, Arwana will be closing the gap with the market leader very rapidly. Arwana currently stands as the 16th largest ceramic tile company in the world with the production cost that can compete with China.

A similar story is also shared by South Pacific Viscose. This rayon company, part of Lenzing Group of Austria, is...