United Tractors (UNTR) Established New Nickel Processing Subsidiary

MACROECONOMY 
US Private Sector Shed 32K Jobs in November 2025, Largest Drop Since March 2023 
US private employers cut 32K positions in November 2025, swinging from an upwardly revised 47K gain in October and missing consensus of a 10K increase. Small firms led the decline with a 120K drop, while medium and large companies added 51K and 39K jobs respectively. Sectoral losses were concentrated in manufacturing (-18K), professional/business services (-26K), information (-20K), construction (-9K) and financial activities (-9K), offset by gains in education/health services (33K), leisure/hospitality (13K), natural resources/mining (8K) and trade/transportation/utilities (1K). Annual pay growth slowed to 4.4% for stayers and 6.3% for changers. (Trading Economics) 
 

US ISM Services PMI Rose to 52.6 in Nov-25 
US ISM Services PMI increased to 52.6 in Nov-25 (vs Oct-25; 52.4), marking the strongest expansion in nine months and above expectations of 52.1, supported by steady business activity (54.5) and firm new orders (52.9) alongside the highest order backlog since Feb25 (49.1). Tariffs and the govt. shutdown were cited as ongoing drags on costs and demand, while employment remained in contraction (48.9) and supplier deliveries slowed (54.1) amid air-traffic and customs disruptions. Price pressures eased to a seven-month low at 65.4, signaling softer input inflation. (Trading Economics) 

COMPANY 
United Tractors (UNTR) Established New Nickel Processing Subsidiary 
UNTR established a new entity, PT Nusantara Industri Nikel Lestari (NINL), on 02-Dec-25 through its subsidiaries PT Danusa Tambang Nusantara (DTN) and PT Energia Prima Nusantara (EPN), aiming to expand into non-ferrous metal processing and metal ore trading. Based on Deed No. 125 dated 21-Nov-25, DTN controls 99.90% of NINL via 9.99 bn shares, while EPN holds 0.10% or 10 mn shares. The formation of NINL marks a strategic step in UNTR’s diversification into nickel mineral services and processing under its controlled entities. (Emitennews)