Following its recent rollout of numerous sustainability initiatives, the company heads into the year-end with record earnings

JAKARTA, INDONESIA – Media OutReach – 22 December 2022 – PT Gunung Raja Paksi Tbk (GRP), a member of the Gunung Steel Group and one of the largest private steelmakers in Indonesia today, announced their financial results for third quarter (Q3) of 2022, a record high revenue of US$723 million, a 44% year on year (YoY) since 2021. GRP has also attained a net profit of US$49 million in Q3, a 22% YoY since 2021.

The Indonesian steelmaker has seen export revenue at US$45 million this year, which is 56% YoY increase. This is a testament to GRP’s efforts in expanding its footprint in the international stage, where it has made its mark in key regional markets this year such as the United States (US), Australia, New Zealand and United Emirates Arab (UAE).

This positive performance can be attributed to the company’s investments into modern technologies to increase steel production capacities and cementing its credibility as a sustainable steel manufacturer. Following this, the company has robust plans for 2023 where it aims to channel more investments into its steel production capabilities and green technologies to meet the region’s growing demand for steel and in particular, low carbon steel.

“2022 has been a year of growth and achievements. As we enter the new year, we hope to continue this momentum by setting our sights beyond Indonesia. We are optimistic that we can do so as seen from how our production volume has increased by 36% since 2021, which we believe can address the demand and supply gap of steel in the region,” said Roymond Wong, Director of Finance at Gunung Raja Paksi.

Concluding 2022 with sustainability initiatives

In the second year of its new leadership, having transformed from family run to professionally managed, GRP implemented major initiatives in the sustainability space. The most prominent being its Environmental, Social and Governance (ESG) Strategy Handbook and the establishment of its new sustainability department to drive it. GRP has also formed key partnerships with renowned industry players such as Fortescue Future Industries (FFI), Indonesian Chamber of Commerce (KADIN) and TotalEnergies to explore solutions for decarbonisation and facilitate discussions on helping the industry within the region, move towards a more environmentally friendly future.

On the production side, GRP has also been investing in transforming their energy use in their bid towards achieving Net Zero. This can be seen from how GRP has transitioned from traditional blast furnaces and is now operating on Electric Arc Furnace (EAF), which have proven to be less pollutive. It has also commissioned its Light Section Mill (LSM) as part of its efforts to increase efficiencies and lower energy consumption.

“As we journey toward an environmentally conscious world, it is important for businesses to factor sustainability into their business models to become responsible producers. At GRP, we have been investing time and resources into decarbonising our processes and are now proud to call ourselves suppliers of low carbon steel. We hope to see our steel making its way into more green building projects in the region in 2023 and pave the way for other steelmakers to follow suit in their own decarbonisation journeys,” said Tony Taniwan, Executive Committee at Gunung Raja Paksi.

Having participated in the recent Indonesian Iron and Steel Industry Association (IISIA) Business Forum (IBF) which revealed the national agenda to improve Indonesia’s infrastructure and modernise local resources and the development of the new State Capital (IKN) which prioritises green building, GRP aims to supply its low carbon steel products to spearhead infrastructure development for the country and the region.

Meeting the country and the region’s growing steel demands

GRP foresees that the country and region’s appetite for steel will continue to rise. According to the World Steel Association, global steel consumption is on course to recover by 1% to 1.81 billion tons despite current economic headwinds in 2023. In Indonesia alone, steel consumption in 2023 is expected to register a growth of 3.5% YoY and Indonesian Finished Steel Demand is expected to reach 20.1 mt. This is driven by construction projects, which contributes to 78% of steel consumption. For instance, the new state capital in Kalimantan (IKN) requires 9.2 million tons of which GRP is confident that they would be able to supply. This is evident from how GRP’s sales volume has increased by 23% from 2021 this year, which highlights the increasing demand for the company’s steel products.

GRP understands that not only the demand for steel is increasing but also steel manufactured from sustainable means to support the building of green cities and infrastructure. As such, GRP has been making efforts to decarbonise production processes and have obtained an environmental product declaration (EPD) certificate. With this credential, GRP has seen successes in breaking into regional markets such as Australia and New Zealand and the United States, and it hopes to broaden its reach to more environmentally conscious markets.

Following GRP’s participation at the IBF, the company is aligned on the Indonesia government’s plans to increase the use of domestic products (P3DN) and the level of domestic components (TKDN). As such, GRP is currently in discussions with the government on formulating policies to protect local steel suppliers in areas such as anti-dumping.

Hashtag: #GunungRajaPaksi

The issuer is solely responsible for the content of this announcement.

About GRP

PT Gunung Raja Paksi Tbk (GRP) is part of the Gunung Steel Group, which is one of Indonesia’s major private steel businesses. Our company began its operations in 1970 in Medan, North Sumatra, by producing hot steel, then progressed to manufacture steel beams and sheets.

With over 50 years of steel industry experience, GRP has a production capacity of 2,200,000 tons of high-quality steel annually approved by local and international certifying company.

Today, our company has become one of the largest private steel companies in Indonesia. Gunung Raja Paksi, “Shaping Tomorrow”. Together we develop a better future.

For more information, please visit: www.gunungrajapaksi.com

TAIPEI, TAIWAN – Media OutReach – 22 December 2022 – PetaRush, the world’s first multi-IP blockchain mobile game, will launch its second closed beta on December 21 at 14:00 (GMT+8). iOS users need to download the TestFlight app to participate, and Android users can download the apk provided.

PetaRush is a blockchain racing game featuring fashionable 3D animal characters as the runners. The gameplay is similar to the classic Mario Kart, but players do not need to control the direction, just strategically use the skills to reduce stamina consumption, increase running speed, and disrupt opponents to win the championship. Players can develop the runner’s skills through the game’s cultivation mechanism to boost the win rate.

PetaRush recently launched 1,000 NFTs of game characters, which sold out in less than five days and achieved excellent results in this bear market. After the end of the first beta test in May this year, PetaRush team has stepped up its efforts to launch a new beta test version in which the scene has been fully optimized and improved for players to enjoy racing on the 3D Mars landscape. This closed beta unlocks the Peta Token Qualifier where NFT holders can earn tokens. PetaRush provides two modes, “Winner Takes All” and “Play to Earn” to attract players with different goals and experience the joy of win-to-earn in a blockchain game!

Not only can PetaRush NFT holders unlock the token-earning Peta Token Qualifier, but PetaRush has also announced an in-depth collaboration with two leading NFT projects, PhantaBear and Demi-Holim NFT. NFT holders of these two projects can claim a 3D character NFT for free on the blockchain gaming platform METASENS and use it in PetaRush. Achieve the Web3 gaming goal of multiple IPs playing together in one game.

This closed beta test is the final test before the game goes live. It is free to download for everyone. Players do not need an NFT to experience the joy of racing on Mars. If the player likes the game and wants to earn tokens in-game, PetaRush NFTs are available on the METASENS NFT market.

PetaRush has also prepared a series of events where players can win USDT, unlock PT coupons for the token-winning game, and get whitelisted for the next round of PetaRush NFT sales, NFT blind boxes minting, or PetaRush merchandise. All information will be announced on PetaRush Discord and Twitter.

Download PetaRush：https://lihi1.com/JGfsF
PetaRush Discord：http://discord.com/invite/petarush
PetaRush Twitter：https://twitter.com/PetaRush

Hashtag: #PetaRush

The issuer is solely responsible for the content of this announcement.

About PetaRush

PetaRush is a racing blockchain game with fashionable 3D animal characters. Embodied the concept of blockchain gaming — “compatibility” through collaborations with other IPs. Moreover, it has the world’s first BGM-backed gamefi NFTs! With the click of a button, immerse yourself in a world of diverse landscapes with your favorite customizable character and experience speed like never before!

PetaRush is available on Android and iOS devices. It is also a multiplayer game where each race can play with up to 8 players. Each Peta, aka your character, has different skill sets, players have to make good use of the energy obtained to perform skills and gain advantages during the races!