JAKARTA – PT Sunindo Pratama Tbk (SUNI) estimates its revenue to reach IDR 596 billion in 2023. In 2022, SUNI’s revenue clocked up to IDR 500 billion (unaudited).

Willy Johan Chandra, President Director of SUNI, announced the projection of its revenue growth in 2023. “The current year’s profit is estimated to reach IDR 84 billion, shifting from IDR 70 billion in 2022,” he said during the initial listing on Indonesia Stock Exchange (IDX) today (9/1).

According to Chandra, the revenue growth coincides with the increase of production and the market share of local manufacturer of pipes for oil and gas. SUNI’s pipe production includes manufacturing seamless wellhead and christmas tree pipes, drill bit, completion equipment, as well as wellhead installation and maintenance services.

The company is confident that its seamless pipe production, handled by PT Rainbow Tubulars Manufacturer (RTM), its subsidiary, will be able to supply the demand for industrial pipes for the oil and gas sector within the country. As of now, SUNI has controlled 70% of the domestic market of the seamless tubing OCTG pipes. (LK/ZH)