ASIATODAY.ID, JAKARTA – PT Daaz Bara Lestari Tbk (DAAZ) has officially joined a strategic consortium to develop Indonesia’s nickel downstreaming and electric vehicle (EV) battery ecosystem, a move that immediately captured market attention and sent its shares sharply higher on the Indonesia Stock Exchange (IDX).
The development was marked by the signing of a Framework Agreement by DAAZ’s subsidiary, Daaz Nexus Energy Limited, alongside PT Aneka Tambang Tbk (ANTM), PT Industri Baterai Indonesia (IBI), and HYD Investment Limited on January 30, 2026.
HYD Investment Limited is an entity established by a global consortium comprising Zhejiang Huayou Cobalt Co Ltd and EVE Energy Co Ltd, two of the world’s leading players in the EV battery supply chain and new energy materials.
DAAZ’s entry into this consortium underscores its ambition to secure a position in the high-value segment of Indonesia’s nickel downstream industry, which is increasingly integrated into global EV supply chains.
DAAZ’s management emphasized that the cooperation remains at an early stage. The Framework Agreement serves solely as a preliminary framework and does not yet create any final or binding investment obligations.
“The implementation of further cooperation will depend on the fulfillment of preliminary conditions, as well as negotiations and the execution of definitive agreements,” the company stated in its information disclosure on Friday, January 30, 2026.
The company also reaffirmed that any follow-up actions will be conducted in line with prudential principles, good corporate governance (GCG), and full compliance with prevailing laws and regulations.
At this stage, the signing of the Framework Agreement is confirmed to have no impact on the company’s operational activities, financial condition, or business continuity.
Nevertheless, investors appear to be pricing in the long-term strategic upside of DAAZ’s participation in the nickel and EV battery ecosystem.
As of Friday’s close (January 30, 2026), DAAZ shares surged 11.01 percent to IDR 3,730, rebounding strongly after steep corrections over the previous two trading days—down 14.97 percent on January 28 and 10.40 percent on January 29.
DAAZ is listed on the main board of the Indonesia Stock Exchange as a basic materials issuer, with core business activities spanning bulk trading of metals, metal ores, and holding company operations. Its key commodities include coal, nickel ore, and fuel oil.
The company’s coal supplies are primarily allocated to power generation, while its nickel output is sold to smelters in Sulawesi, in line with Indonesia’s broader mineral downstreaming policy.
Meanwhile, DAAZ also trades high-speed diesel fuel, catering to industrial clients across the mining, smelting, and transportation sectors.
Market observers view DAAZ’s inclusion in the nickel downstream consortium with Antam, Huayou, and EVE as a strong signal of strategic repositioning—from a commodity trader toward a potentially integral player in Indonesia’s rapidly expanding EV battery value chain, a sector expected to underpin the country’s green-energy transition in the years ahead. (AT Network)
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