Info & News.
Public Expose PT. Cottonindo Ariesta Tbk.
PT CottonindoAriestaTbk held a Pubex or Public Expose event on Thursday, September 13, 2018 at the Harris-Convention Festival City Link Hotel, located at JL. Map No.241, Bandung. The Pubex event is related to the plan of a company that will go public to release part of it’s shares on the Indonesia Stock Exchange (IDX). The Pubexevent is held after getting “pre-effective” from the regulator, i.e. the Financial Services Authority or Otoritas Jasa Keuangan (OJK).
The Cottonindo Pubex event was also attended by sole lead underwriter, UOB Kay Hian Sekuritas, the public accountant Johan Malonda Mustika & Partners, supporting professions such as BAE, i.e.PT Adimitra Jasa Korpora, KJPP Felix & Partners, Mayasari SH as a Notary.The company also invites number of parties, both institutions and individuals who have the potential to become stock investors if CottonindoAriestawill lands on the Indonesian stock exchange in the near future. Mr. MartingDjapar as the founder and President Director of the company gave a speech explaining the reasons for the company to go public. Mr. MartingDjapar said that CottonindoAriesta has a number of good business opportunities in current day and the future;the company also has a solid business background, so that by doing a Go Public, it will make the company grow and develop further. He sees that the market for Cottonindo is still wide opened and Indonesia will grow as its economy is more advanced in the future.
Business presentation was carried out by Mr. Fransiskus Toni as Vice President Director and concurrently as Finance Director. Mr. Toni explained a number of steps that Cottonindo will take to advance the company in the near and medium term and long term. Pak Toni said, even though the current capital market conditions look less conducive, however, Mr. Toni is optimistic, the shares that will be sold to the public will be welcomed by capital market investors in Indonesia. Mr. Toni also said that Cottonindo is a unique company, and has a special uniqueness not only in Indonesia, even in Asia Pacific. The company has a strong retail market base in Indonesia and institutional markets in the Asia Pacific. Cottonindo has regular customers in a number of countries such as Myanmar, Philipna, Australia, Hong Kong, Taiwan, Vietnam etc. Mr. Toni actually saw export opportunities to increase the company’s revenue in the future and increase solidly in the export line to a number of countries in Asia Pacific. After going public, Cottonindo will also add its health cotton products and develop it in the Indonesian market. The company will develop the second plant in the Subang area of West Java and will develop export products so that it can bring more foreign exchange into Indonesia.
The underwriter, i.e. UOB Kay HianSekuritas, represented by Mr. Agoes Halim, responded to the question regarding Cottonindo’s future prospects, which the stock in initial “KPAS” said that the performance of KPAS shares would grow in line with the growing fundamentals of the company that were growing and increasing in time coming.