Stable Market Share and Broad Business Opportunities, This is Surya Biru Murni Prospects

Photo: Doc. PT Surya Biru Murni Acetylene Tbk (SBMA)

JAKARTA - After venturing into the Shipyard and Petrochemical market business, an issuer engaged in the gas-inorganic chemical industry, PT Surya Biru Murni Acetylene Tbk (SBMA), is optimistic about future performance targets.

"Currently we have taken 5 percent of the liquid market in East Kalimantan and it is estimated that it will continue to increase every month," said SBMA Main Director, Rini Dwiyanti, in a statement, Wednesday, August 23.

Currently SBMA has captured more than 50 percent of the market for tube sales in Minerba, more than 40 percent in the oil and gas sector and more than 60 percent in the petrochemical sector. Meanwhile, sales of the bulk type reach 20 percent for Shipyard and 5 percent each for oil and gas and Petrochemicals. From here, SBMA is targeting an increase for bulk sales with its new investment.

For 2023, SBMA allocates capex of up to IDR 6.2 billion. Over the last 2 years, SBMA has purchased assets of up to IDR 38 billion for a factory development project, of which IDR 35 billion has been allocated for the development of an air separation plant which has been operating commercially on June 27, 2023.

Facing the Challenges Ahead with Optimism

The company realizes that there will always be challenges in the future. In facing market changes and industry dynamics, the company is committed to adapting and seeing every challenge as an opportunity to grow.

The company has a solid work plan in operational development to achieve targets. Various business visits were made which resulted in various contracts.

"The company's plan going forward is to enter into long-term contracts for the development of liquid sales, prepare facilities and infrastructure to support manufacturing liquid sales and increase sales in North Kalimantan and South Kalimantan for all types of gas," said Rini.

From a business standpoint, previously SBMA had conducted a commercial start-up air separation plant on June 27 2023 and currently the Company's liquid production has reached a capacity of 50 tons a day. However, production and sales began to be felt in July and will appear in the third quarter of 2023. This project is a realization of the use of IPO funds.

Rini added that the company has a stable market share and broad business opportunities. Where, the company received many requests for liquid, including the Kalimantan Industrial Estate project which is a government project.

The company experienced an increase in the Liquid Manufacturing sector by 5 percent and will continue to increase every month. As for future opportunities, the company is currently entering the shipyard and petrochemical markets for increased liquid needs.

"Currently we have taken 5 percent of the liquid market in East Kalimantan and it is estimated that it will continue to increase every month," concluded Rini.

PT Panin Sekuritas Research Analyst Aqil Triyadi explained that SBMA was in a demand area. Watch the support level at 136 as long as it is able to stay above the support level there is potential for resistance at 150 and if it breaks towards 163.