JAKARTA. PT Pemeringkat Efek Indonesia (Pefindo) has assigned an "idA-" rating for PT Sarana Mitra Luas Tbk (SMIL), an issuer that operates in the forklift rental sector.

In its ranking report, Pefindo stated that the ranking reflects SMIL's fairly strong market position in the forklift rental business. Apart from that, the company's profit margin and financial profile are also considered quite strong.

However, wrote Pefindo, SMIL's rating is limited by its exposure to long collection periods and intense competition in the forklift rental industry.

"The rating can be raised if SMIL significantly strengthens its business position, as proven by strong revenue and EBITDA growth, while maintaining a strong financial profile," explained Pefindo.

As of May 2024, SMIL has total assets of IDR 838.9 billion and total equity of IDR 678.9 billion. The company's sales were recorded at IDR 149.7 billion and its net profit was IDR 22.4 billion. (KR/LM)