Revenue In The First Quarter Of 2023 Up 7.7 Percent, Surya Biru Murni Will Hold A GMS At The End Of May 2023

JAKARTA - A company that produces industrial gas such as acetilena, oxygen, and nitrogen, namely PT Surya Biru Murni Acetylene Tbk (SBMA) continues to show positive performance with sales throughout the January-March 2023 period.

The company from East Kalimantan, which listed its shares on the IDX on September 8, 2021, also produces various industrial gas such as Argon, Carbon dioxide, Mixed Gas, Compressed water and sells other special gas for laboratory and testing purposes.

SBMA's operating income rose 7.7 percent year on year from Rp24.6 billion to Rp26.5 billion. On the other hand, the cost of revenue increased from Rp11.6 billion to Rp15.1 billion.

There has been an increase in the cost of purchasing Raw Materials and distribution due to the increase in fuel prices. The Company believes this performance will improve after the adjustment of the new selling price and several contracts will be re-traded.

The company's asset data as of March 31, 2023, shows that the total assets owned are IDR 269.06 billion. This amount did not shift too far from the total assets as of December 31, 2022, which were recorded at IDR 269.60 billion.

It should be noted that the company managed to reduce business debt to third parties to Rp3.41 billion from the previous Rp5.11 billion, then the acrual burden also decreased to Rp1.04 billion from Rp1.45 billion and debt for buying assets continued to decrease to Rp793.01 million from Rp1.03 billion.

Of course, the performance that has a positive impact on SBMA's financial health can be seen further by the decrease in the number of short-term liabilities which decreased significantly to Rp27.68 billion from the previous year at the end of 2022, which was still Rp30.19 billion.

Furthermore, the company, throughout the first three months of 2023, posted a net cash obtained from operating activities of Rp741.83 million with the company's success in maintaining business receivables and recording cash receipts from customers of Rp27 billion which was higher than its income.

President Director of PT Surya Biru Murni Acetylene Tbk (SBMA), Rini Dwiyanti, stated that the company's main target now is to become the leading industrial gas company in Kalimantan and Indonesia, and to continue to innovate and expand its business in South Kalimantan and North Kalimantan.

"In the long term, the Company is also trying to explore the Eastern Indonesia market. When it is called SBMA, people know it is from Kalimantan," he said in an official statement, quoted on Tuesday, May 9.

Rini clearly said that the company's business targets were considered realistic because the need for industrial gas continued to increase, so that with the new ASP (Air Separation Plant), SBMA is expected to increase production by five times.

"As is well known, the opportunity for revenue for SBMA is wide open to meet the demand for an open liquid market in Petrokimia, Oil and Gas, Medical and distributor which is estimated at 5 million liters per year," explained Rini.

On the other hand, SBMA announced the resignation of its Finance Director on Tuesday, May 2.

"On May 2, 2023, the company has received a letter of resignation from Mrs. Cintia Kasmiranti as Director of Finance & Administration and Corporate Secretary of the Company. However, she will continue to monitor the company as one of the Directors at PT Surya Biru Titilea Investama as a shareholder of SBMA".

This postponement is effective starting from the date of the AGMS which has scheduled changes to the Board of Directors' composition. The AGMS is scheduled to take place on Friday, May 26.

In this GMS agenda, the company has a number of main agendas such as:1. Approval of Annual Reports and Annual Financial Reports.2. Approval of the Use of Net Profit.3. Approval of the Appointment of Public Accountants and/or Public Accounting Offices.4. Approval of the Realization Report on the Use of Funds.5. Approval of Changes in the Board of Directors.6. Approval of changes in salary/honorarium and/or other allowances for members of the Board of Directors and Board of Commissioners of the Company.