LQ45 Companies Maintain Cautious Approach to Capital Expenditure Through Q3 2025

Cautious Spending Amid Challenging Business Environment

Companies listed in Indonesia's prestigious LQ45 index have demonstrated a cautious approach to capital expenditure (capex) through the third quarter of 2025. PT Astra International Tbk (ASII), one of the largest conglomerates in Indonesia, exemplifies this trend. As of September 2025, Astra International had utilized approximately Rp 12.7 trillion or 48.84% of its total Rp 26 trillion capex budget for the year.

Strategic Focus Areas for Capex Utilization

The utilization of capex by Astra International has been focused on several key areas: purchasing heavy equipment for its United Tractors division, maintenance of mills and ports for Astra Agro Lestari, and renovation of dealer facilities. According to Windy Riswantyo, Head of Corporate Communications at Astra International, the company continues to monitor current business conditions closely and adjust its capex realization plans accordingly.

Business Prudence in Investment Decisions

Astra Group maintains a prudent approach to investment decisions, carefully evaluating expansion opportunities to support long-term growth. The cautious stance reflects the challenging business environment and the company's commitment to balancing growth initiatives with financial prudence. This strategic approach to capex management is likely to be a common theme among other LQ45 companies facing similar market conditions.