Factory Tour: BINUS Finance International Visits Elsewedy Electric

Jakarta, Indonesia – June 2, 2024—The Binusian 2027 Finance International Program at BINUS University visited Elsewedy Electric factory in Bogor on 30 May 2024. The visit was part of the Managerial Accounting course which aimed to provide students with practical insights into real-world accounting practices. The students were accompanied by Ms Valentina Tohang, the course lecturer and Finance International Head of Program.

Elsewedy Electric is a prominent integrated energy infrastructure solutions company, known for manufacturing transformers—machines that transfer electric energy from one source to multiple circuits. Based in Egypt, Elsewedy Electric was recognized in Forbes’ Top 100 Arab Family Businesses in 2023 (Forbes, 2024). Since its establishment in 1939, the company has expanded significantly, operating more than 80 subsidiaries worldwide, including one in Indonesia.

The Indonesian subsidiary of Elsewedy Electric produces transformers for both domestic and international clients, including the State Electric Company (PLN). The company exports its products to countries such as Australia and New Zealand and has recently received orders from Ukraine.

Upon the students’ arrival, the Elsewedy Electric team warmly welcomed them and provided a comprehensive briefing on safety instructions. To ensure safety within the production area, all students were equipped with helmets. The company production manager, Pak Benyamin Verkino, explained the manufacturing process in detail. Afterwards, there was a sharing session about the company profile along with its finance and accounting system.

The visit concluded with a heartfelt farewell from Pak Samodra Himawan, the General Manager of Elsewedy Electric, who greeted the students and expressed his appreciation for their visit.

We hope that the visit can enrich the students’ knowledge and provide them with a deeper understanding of accounting practices in a real-world industrial setting.