JAKARTA. PT Mutuagung Lestari Tbk (MUTU), a test, inspection, and certification (TIC) company, has established its latest branch office in Sidoarjo, East Java.

Arifin Lambaga, President Director of MUTU, said that this branch office establishment is a form of the company’s commitment in positioning itself closer to users. In addition, Lambaga also saw this new branch office as a way of market expansion.

“The company has established a branch office in Sidoarjo, East Java, to conduct testing laboratory activities,” Lambaga confirmed in the information disclosure in Indonesia Stock Exchange (IDX).

With the establishment of this branch office, the performance of revenue and net profit of MUTU is expected to improve. “Therefore, it may generate positive contribution towards the financial performance of the company in the future,” added Lambaga.

According to IDNFinancials data, MUTU is listed on Indonesia Stock Exchange (IDX) on August 9, 2023. During its IPO, it issued 3.14 billion new shares and collected fresh funds of IDR 101.83 billion. (KR/ZH)