JAKARTA. PT Mustika Ratu Tbk (MRAT) has agreed upon a cooperation with Sugi Holdings Co. Ltd., a public company listed on Tokyo Stock Exchange (TYO), for its business development.

Jodi Andrea Suryokusumo, Director and Corporate Secretary of MRAT, said that this partnership will involve the production of various cosmetic products and drugs, as well as global expansion of sales.

“The purpose of this partnership is to create a new market in the beauty and healthcare industry with halal products developed with advanced technology from Sugi Holdings, which have obtained halal certification,” Suryokusumo added in the official statement.

It is worth mentioning that Sugi Holdings is a company engaged in the wholesale of drugs, healthy food, cosmetic, and daily products. The company is said to have over 1,700 outlets across various regions in Japan.

In addition, Sugi Holdings has also expanded its business scope to Taiwan, Vietnam, Malaysia, Thailand, and Hongkong. As of now, Sugi Holdings employs approximately 4,000 apothecaries, 500 national-certified nutritionists, and 1,200 beauticians.

According to IDNFinancials data, at the end of morning session at IDX, MRAT’s price shifted up 10 points or 2.39% to IDR 428 per share. Since the beginning of this year, it has strengthened 48 points or 12.63%. (KR/ZH)