JAKARTA – PT Multi Medika Internasional Tbk (MMIX) has partnered with Fujian Nice Paper Hygiene Products Co., China, to establish a diaper factory in Indonesia.

Mengky Mangarek, President Director of MMIX, announced that the two companies signed a memorandum of understanding (MoU) yesterday (2/1) regarding capital investment to form a joint venture.

“The MoU for the construction of the diaper factory is valid for 36 months from the date of signing,” he said in a public disclosure on Friday (3/1).

According to him, the amount of capital investment in the joint venture has yet to be determined. The details of the investment plan are currently being negotiated between MMIX and Nice Paper.

There is no affiliate relationship between MMIX and Nice Paper.

He added that the presence of the joint venture will increase the company’s revenues in the future.

As of September 2024, MMIX recorded revenues of IDR 93.18 billion, down from IDR 139.83 billion in the same period in 2023. The company posted a net loss of IDR 18.54 billion, compared to a profit of IDR 27.30 billion in the previous period. (LK/ZH)