JAKARTA - PT Sarana Mitra Luas Tbk (SMIL), a forklift rental service provider, has set the budget for the purchase of 250 new units of forklift and material handling equipment to IDR 75 billion. These forklifts will further develop its rental capacity, as well as diversification of rented vehicles.

From the short prospectus quoted Wednesday (10/5), the funds to acquire these forklifts originate from the proceeds of its initial public offering (IPO) that has been held since Monday (8-10/5). In this corporate action, SMIL wishes to raise IDR 175 billion of fresh funds.

Approximately 43.99% of the IPO proceeds will be used to acquire forklifts, while the remaining portion is spent on supporting equipment, such as 189 units of lithium batteries, 250 units of lithium battery chargers, as well as 20 operational vehicles.

The 250 additional forklifts will increase SMIL’s assets. As of now, the company is operating 3,000 units of material handling equipment with a ranging capacity, from 1.5 tons to 30 tons, also varied from diesel-fuelled to electric forklift, as well as reach truck, pallet mover, pallet stacker, towing, and forklift attachments. (LK/ZH)