JAKARTA - PT Mutuagung Lestari Tbk (MUTU), which is currently holding its book building stage before debuting through initial public offering (IPO) in Indonesia Stock Exchange (IDX), is revealing its three business strategic focuses that will become future prospect of MUTU.

MUTU is engaged in the testing, inspection, and certification (TIC) sector. “Our market size will rise exponentially due to industry downstreaming, green economy, and people that are starting to gain awareness for product certification,” Irham, Director of Operational of MUTU, explained during the Public Expose and Due Diligence Meeting of MUTU today (13/7).

On top of TIC services, MUTU has also designed three business strategies, consisting of natural resources and green economy, digital economy, and sharia economy. “Our business development strategies are in line with Indonesia’s advantages,” Irham added. Regarding the green economy, the management is projecting a surge in carbon certification demands in Indonesia, as the second biggest carbon trading market in the world after Brazil.

Along with this business strategy, according to the short prospectus, 66% of the IPO proceeds will be allocated by MUTU as capital expenditure (capex), including the construction of 5 new testing laboratories. “There will be 5 [laboratories built] this year; in Aceh, Palembang, Kendari, Manado, and Pasuruan,” Arifin Lambaga, President Director of MUTU, told the press during the conference. Meanwhile, the remaining 34% will be used as operational expenditure (opex). (ZH)