Trimuda Nuansa Citra will release 47% of the shares in the IPO

Nov 3, 2021

KONTAN.CO.ID – JAKARTA. Cargo and logistics company, PT Trimuda Nuansa Citra intends to hold an initial public offering (IPO) event. The company appointed Jasa Utama Kapital as the underwriter to oversee this corporate action.

Andy Raharja, Commissioner of PT Trimuda Nuansa Citra Tbk, stated that his party uses the December 2017 report book. So it is targeted that the recording process can be carried out in the first semester of 2018.

“Around June we listed,” Andy said after conducting a mini expose on the Indonesia Stock Exchange (IDX), Tuesday (3/4).

He continued, in this corporate action, the company intends to release as much as 47% of the company’s shares. The targeted IPO funds are around IDR 30 billion. The price range of the shares that will be offered is not yet known. “We release above 40% so we can get tax incentives as well,” he said.

According to the plan, 30% of the IPO funds will be used for working capital. Meanwhile, 70% will be used for infrastructure development, including purchasing land and building construction. “The plan is to be located in Karawang, because it is near an industrial area,” he said.

From the December 2017 book, it is known that the company’s total assets range from IDR 20 billion to IDR 30 billion. Meanwhile, revenue in 2017 was IDR 51 billion. Companies have also benefited from the recent e-commerce boom.

The industry CAGR is currently around 15% and for companies around 20%. This year, the company is aiming for Rp 64 billion in revenue with a net profit target of Rp 4 billion. “The first two months (net profit) is close to Rp. 1 billion, we think this is a realistic target,” he said. In running the cargo and logistics business, the company uses the Garuda Express Delivery (GED) brand. Initially the company was founded in 1995, by running a business in the field of shipping goods by air with door to door service. Now, GED has developed into an independent airfreight service provider.

Andy stated, currently, the company operates nationally. GED has three major branches where each branch oversees agents. Those branches are located in Balikpapan, Bandung and Surabaya. Currently, his party has not seen any need to open a new branch, because they still want to focus on and utilize existing agents. “We are also working with DHL for global shipping,” he continued.

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