Gunung Raja Paksi Participates In Asia Steel Market 2023
The largest private steel company in Indonesia, PT Gunung Raja Paksi, Tbk participated in the prestigious Asia Steel Market 2023. At the event which was held in Ho Chi Minh, Vietnam 29-30 March 2023, Chief Financial Officer (CFO) Roymond Wong had the opportunity to become one of one speaker with the theme “Trade in Turbulent World”. Other speakers on this theme were international steel business actors, including Emrah Ugursal (Deputy General Manager Bastug Metalurgy Turkey), Anh Vu Tran (Regional Customer & Merchandising Lead Cargill Vietnam) and Vaibhay Chaudhary (Manager Asia Business Unit Delta Steel). The event was organized by Kallanish, a business media organization that produces news, data, events and market intelligence for commodities professionals. The event was also attended by Fan Tiejun (President of China Metallurgical Planning and Research Institute), Dinh Quoc Thai (Secretary General & Vice Chairman of the Vietnam Steel Association), Alok Sahay (Secretary General of Indian Steel Association), Ronald C (President of the Philippines) Iron and Steel Institute).
"In the midst of the increasing challenges of the steel industry, participation in the event is a source of pride for GRP and the Indonesian steel industry. Because this is where a lot has surfaced about the role that the Asian steel industry should play. This event also strengthens optimism in the midst of various challenges," Roymond told the media today.
The global economic challenges in 2023 are quite high, such as high inflation, commodity prices, the Russia-Ukraine war, increasing geopolitical tensions, uncertain economic markets, so Roymond explained the importance of financial risk management, namely hedging against interest rates, foreign currency exchange rates particularly the US Dollar against the Rupiah and steel prices.
But in the midst of these various shocks, it must be believed that the fundamental potential for steel demand growth is indeed still attracting investment in this region. Of course, to meet this demand, the issue of decarbonization will affect the green investment landscape. Roymond reminded the importance of the Company's decarbonization strategy as a condition for obtaining the right green-financing scheme.(*)
