Aspindo Mutual

What Aspindo Mutual does

Aspindo Mutual Group (legal entity PT.Aspindo) is an Indonesia-based industrial supplier founded in 1980, headquartered in Surabaya with a warehouse/manufacturing site in Gresik and a branch office opened in Jakarta's SCBD district in 2021. The company is privately held and self-financed, with no disclosed external funding. Its core business is the distribution and manufacturing/mixing of asphalt — supplied in 155kg drums, 30/50kg bags, and 15-tonne bulk — serving infrastructure and construction companies nationwide through a Pertamina-anchored distribution relationship.

The company has expanded its product portfolio into adjacent energy commodities: LPG (50kg for FnB, 12kg and Bright Gas for households) and industrial Bio-Diesel (BBM) meeting MIGAS standards, both distributed across Java Island. Distribution is enabled by owned logistics assets including 4 asphalt terminals, a fleet of 200 tanker trucks for land delivery, and 2 tanker ships for inter-island shipping, each carrying over 150 asphalt drums. Quality positioning is supported by long-standing partnerships with Pertamina and Esso, and Aspindo has accumulated 18 Asphalt Awards and 1 LPG Award, primarily from Pertamina.

Revenue is generated through one-time unit sales across all product lines, with inquiry-based direct sales via website, email, and WhatsApp as the primary go-to-market motion. A new seafood export/import vertical is being developed in partnership with KML Group (PT. Kelola Mina Laut), representing a diversification beyond energy and infrastructure. The company targets four customer segments: infrastructure/construction enterprises, FnB businesses, households, and industrial manufacturers, with vertical-segmented positioning and no recurring-revenue or subscription model.

Name

Aspindo Mutual

Legal name

PT.Aspindo

Website

https://aspindogroup.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

1–10 employees

Short description

Aspindo Mutual Group (PT.Aspindo) is an Indonesia-based industrial supplier founded in 1980 that manufactures and distributes asphalt, LPG, and Bio-Diesel to infrastructure, FnB, household, and industrial customers nationwide via an owned fleet of 200 trucks, 2 ships, and 4 terminals.

Ownership category

akta.pro rank

Product category

Industrial Materials & Energy Distribution

NAICS

Petroleum Refineries (32411), Petroleum Bulk Stations and Terminals (424710), Petrochemical Manufacturing (32511)

SIC

Petroleum Refining (2911), Wholesale-Chemicals & Allied Products (5160), Chemicals & Allied Products (2800)

akta.pro primary industry

Refinery Blending & Product Quality Control (Gasoline/Diesel/Jet Blending, Additives) (EUALAGAJ)

Keywords

• Asphalt manufacturing
• LPG distribution
• Industrial fuel supply
• Infrastructure materials
• Bio-diesel distribution

Headquarters

HQ city

Surabaya

HQ country

Indonesia

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Asphalt Sales: Sale of asphalt products in various forms (Drums, Bulk, Platinum Bag) to infrastructure and construction companies. Products are shipped nationwide. Revenue is generated through direct product sales with no mention of recurring revenue model.
2. LPG Sales: Sale of LPG products (50kg, 12kg, Bright Gas) to FnB industry and households across Java Island. Business has been operating for 3-4 years with gradual expansion.
3. Bio-Diesel (BBM) Sales: Sale of industrial Bio-Diesel fuel to businesses across Java Island. Utilizes existing infrastructure and fleet for distribution.
4. Seafood Export/Import: New business segment in partnership with KML Group for seafood export and import operations.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Aspindo Mutual Group manufactures and distributes industrial asphalt products (Drum 155kg, Bag 30/50kg, Bulk 15 tonnes), liquefied petroleum gas (LPG 50kg, 12kg, Bright Gas), and industrial Bio-Diesel fuel (BBM). The company supplies these energy and infrastructure products to construction companies, FnB businesses, and industrial manufacturers primarily across Java Island and nationwide in Indonesia, leveraging an owned logistics fleet and strategic partnerships with Pertamina and Esso.

Product overview

Aspindo Mutual Group operates as an industrial supplier offering a diversified product portfolio centered on energy and infrastructure materials. The core offerings include three asphalt variants (Drum Asphalt in 155kg drums, Bag Asphalt in 30-50kg sizes, and Bulk Asphalt at 15 tonnes), three LPG products (50kg for restaurants, 12kg for households, and Bright Gas for apartments), bio-diesel fuel for industrial use, and an upcoming seafood import-export business via partnership with KML Group. With 31 years of experience since founding in 1980, the company ships asphalt products nationwide while LPG and bio-diesel operations currently serve Java Island.

Differentiator

Problem solved

Functional benefit

Products and services

• Aspal Drum (Drum Asphalt) Penetration grade 60/70 asphalt supplied in 155kg net weight drums meeting international quality standards, shipped nationwide across Indonesia to infrastructure and construction companies.
• Aspal Karung (Bag Asphalt) Asphalt packaged in 30kg and 50kg net weight bags, shipped nationwide across Indonesia for infrastructure and construction use.
• Aspal Curah (Bulk Asphalt) Bulk asphalt supplied in 15 tonnes net weight shipments delivered across Java Island for large-scale road and infrastructure projects.
• LPG 50kg Liquefied petroleum gas in 50kg net weight cylinders designed for restaurant and small/medium business cooking needs, supplied across Java Island.
• LPG 12kg Standard 12kg net weight LPG cylinder suitable for household cooking needs across Java Island.
• Bright Gas LPG variant available in 12kg and 5.5kg net weights designed for apartment residential use.
• Bio-Diesel (BBM) Industrial Bio-Diesel fuel available in local and import variants with low sulfur content meeting MIGAS quality standards, shipped across Java Island to industrial businesses using Aspindo's existing tanker fleet.

Quantifiable outcome

• 31+ years of industry experience and multiple distributor awards demonstrate established track record
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• PT.PertaminacoreStrategic or Co-development PartnerStrategic partnership with PT.Pertamina, Indonesia's national oil company. Aspindo serves as a bitumen/asphalt distributor for Pertamina. The partnership enables Aspindo to provide industrial-quality asphalt with quality assurance. Aspindo has received multiple awards from Pertamina including 'The Best Bitumen Distributor'. Products are branded with Pertamina quality standards.
• EssocoreStrategic or Co-development PartnerPartnership with Esso, a major international energy company. Aspindo partners with Esso to provide industrial-level quality asphalt products. The partnership involves thorough quality checking of measurements and specifications for each project.
• KML Group (PT.Kelola Mina Laut)minorStrategic or Co-development PartnerPartnership with KML Group (PT.Kelola Mina Laut) for seafood export and import business. This represents Aspindo's diversification into the seafood industry, expanding beyond energy products. KML Group provides market access and expertise in seafood exports and imports.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Regional players

• PT Adhi Karya (Persero) Tbk: Indonesian state-owned construction and infrastructure contractor with major road and toll road projects. Comparable as an enterprise customer for asphalt supply and a key demand-side counterpart in the same Indonesian infrastructure cycle that drives Aspindo's volume.
• PT Hutama Karya (Persero): Indonesian state-owned construction enterprise and one of Aspindo's largest asphalt buyer profiles in road and highway infrastructure. Comparable as an enterprise customer in the asphalt value chain, providing direct visibility into the demand pattern Aspindo's national distribution serves.

Broad incumbents

• PT Pertamina (Patra Niaga / Pertamina Patra Logistik): Indonesia's state-owned national oil company and Aspindo's core supply partner. Pertamina operates across upstream, refining, and downstream distribution of all petroleum products including bitumen, LPG, and industrial fuels, making it both a supplier and a near-substitute for Aspindo's distribution activities across every product line.
• PT Barito Pacific Tbk: Indonesian petrochemical and energy conglomerate with interests in refining, LPG, and downstream chemical distribution. Comparable as a diversified Indonesian energy distribution peer operating across multiple petroleum-related product lines.
• PT Pertamina Patra Niaga: Pertamina's downstream subsidiary handling fuel, LPG, and lubricants distribution nationwide. Comparable as the dominant LPG distribution platform that Aspindo's LPG agent business is structurally plugged into, and competes with for large FnB and household accounts.
• Shell Indonesia: Multinational energy major with Indonesian downstream operations spanning LPG, industrial fuels, and lubricants. Comparable as a broad incumbent LPG and industrial fuel distributor competing for the same FnB and industrial customers in Java and across Indonesia.
• PT Surya Esa Perkasa: Indonesian energy company operating in natural gas processing, LPG, and petrochemical distribution. Comparable as an Indonesian downstream petroleum products distributor with LPG and industrial energy offerings, similar to Aspindo's LPG and BBM lines.

Direct peers

• PT Asiapacific Bitumen Industries: Indonesian bitumen and asphalt emulsion manufacturer operating in the same product category as Aspindo's asphalt line. Comparable as a direct competing supplier in the Indonesian bitumen market with parallel B2B sales to infrastructure and road construction customers.
• PT Trimitra Trans Persada: Indonesian logistics and bulk fuel/LPG transportation operator. Comparable to Aspindo's owned fleet (trucks and tanker ships) operations, serving the same industrial and energy customers with bulk liquid transportation across Java and inter-island.
• PT Samator Indo Gas: Major Indonesian industrial and specialty gas distributor including LPG, with nationwide distribution. Comparable to Aspindo's LPG business in serving FnB and household customers with bulk and cylinder formats, and competes in the same Java and inter-island distribution channels.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/aspindo-mutual

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aspindo Mutual