HRTA Expands Gold Jewelry Export Market To Foreigners

Illustration of jewelry (ANTARA)

JAKARTA - PT Hartadinata Abadi Tbk (HRTA), an integrated gold jewelry manufacturing company in Indonesia, has resumed cooperation in exporting gold jewelry to India in the fourth quarter of 2023. In addition, the Company has actively developed an export market in the United Arab Emirates (UAE).

HRTA President Director Sandra Sunanto said HRTA had extended its export cooperation contract with LP Commodities Private Limited (LPCPL) from October 16, 2023 to December 31, 2023. This contract extension is a continuation of the cooperation previously carried out which has started since May 25, 2023.

"With the extension of this cooperation contract, it is estimated that the export of gold jewelry with a level of 91.6 percent will reach 5 tons by the end of 2023," he explained in his official statement, Sunday, December 3.

Sandra said that the sustainability of this collaboration further strengthens HRTA's position as an exporter of jewelry from Indonesia in the world jewelry market. The beginning of export cooperation was only aimed at the Indian market but currently HRTA has succeeded in expanding the export market to the United Arab Emirates (UAE).

Meanwhile, diversifying the purpose of the export market is HRTA's strategy in anticipating changes in regulations implemented by certain countries.

Sandra said that she was optimistic that export activities could further increase HRTA's business growth in 2023 and the sustainability of jewelry exports contributed very positively to profit growth, especially in the fourth quarter of 2023.

Meanwhile, the export of gold jewelry has contributed 39 percent or 3.63 tons to the total volume of HRTA gold sales in pure gold units until September 2023.

Sandra conveyed that with the strategic achievements that the Company has made, HRTA has further strengthened its position as the most integrated gold and gold bullion company from the intermediate industry (midstream) to the downstream industry in Indonesia.

"HRTA is ready to become a partner for the Government of Indonesia in the success of the downstream program, especially in the Indonesian gold industry," said Sandra.