PT Kusuma Kemindo Sentosa Tbk (KKES) Officially Listed On The Stock Exchange

The Board of Directors of PT Kusuma Kemindo Sentosa Tbk (KKES). (Photo: Doc. Kusuma Kemindo Sentosa)

JAKARTA - The development of the manufacturing industry continues to show improvement and has provided opportunities for business activities engaged in the manufacturing sub-sector and its various supports. The Ministry of Industry's data for the first quarter of 2022 even noted that the non-oil and gas manufacturing industry grew 5.47 percent higher than the economic growth in the same period of 5.01 percent.

The Ministry of Industry also noted that the chemical, pharmaceutical and traditional medicine industries are one of the top two contributors to the manufacturing sector after the food and beverage industry.

As a company engaged in the wholesale trading of chemical materials and goods, PT Kusuma Kemindo Sentosa Tbk has a good opportunity to develop in the future because the products owned, both existing and new products are widely used in various manufacturing industry sectors, including the textile industry, plastic, paint, cable pipe and other industries.

Seeing the good prospects and opportunities in the chemical industry, the Company seeks to develop its business and raise funds through the stock exchange.

PT Kusuma Kemindo Sentosa Tbk (KKES) was officially listed on the Indonesia Stock Exchange (IDX) on August 8, 2022. The initial public offering (IPO) of shares from the chemical distribution company also received a positive response from various investors, resulting in excess demand ( oversubscription) about 30.45 times.

From August 2 to August 4, 2022, the Company began offering 300 million new shares through an Initial Public Offering (IPO). The number of shares is equivalent to 20 percent of the Company's issued and fully paid capital.

The shares, which have a nominal value of Rp. 10 per share, were offered at a price of Rp. 105 per share, so that the Company received a total fund of Rp. 31.5 billion. The shares are now listed on the Indonesia Stock Exchange.

95 percent of the funds obtained from the IPO will be used as working capital for the Company's operational activities and business development, with details of, among others, 30 percent for operational costs and 65 percent for purchasing merchandise and paying off trade payables to suppliers.

The remaining 5 percent will be used for the development of the Company's information systems and technology, including IT digitization for sales, delivery, inventory and logistics.

PT Kusuma Kemindo Sentosa Tbk is a subsidiary of PT Catur Sentosa Adiprana Tbk (CSAP) with 51 percent ownership. After going public, CSAP's shares will be reduced to 40.80 percent.

Likewise, the ownership of other shareholders is also reduced. Full share ownership after going public are: CSAP 40.80 percent, PT Budi Lestari Sentosa from 14 percent to 11.20 percent, Retno Widyati Harsono 2.69 percent, Felicia Wiendraty Harsono 2.66 percent, Kiki Rusmin Sadrach from 13.32 percent to 10.66 percent, Kundy Wijaya from 10 percent to 8 percent, Sri Lanty from 5 percent to 4 percent, the community 19.76% and employee stock allocation (ESA) 0.24 percent

Company Performance

PT Kusuma Kemindo Sentosa Tbk is a company that continues to grow. The company, which was founded on November 9, 1990, at the end of 2021 has assets of Rp. 112.10 billion compared to Rp. 103.56 billion in 2020. In March 2022 (unaudited), these assets increased to Rp. 119.21 billion.

Meanwhile, the Company's liabilities as of March 2022 also amounted to Rp. 83.98 billion. At the end of 2021, Perserson's liabilities were Rp. 80.74 billion and Rp. 90.94 in 2020. Meanwhile, equity at the end of March 2022 (unaudited) reached Rp. 35.23 billion and in 2021 it was recorded at Rp. 31.96 billion, up from Rp. 12.62 billion recorded in 2020. .

The company also posted revenue growth in 2021 to Rp 226.40 billion from Rp 205.05 billion. Meanwhile, in March 2022, the Company recorded revenue (unaudited) of Rp62.37 billion.

The company achieved a gross profit of Rp43.88 billion in 2021, an increase from 2020 which was Rp35.35 billion. As of March 2022, the Company posted a gross profit of Rp13.09 billion while the profit for the year as of March 2022 (unaudited) was Rp3.87 billion.

The Company in 2021 recorded a brilliant achievement by achieving a profit for the year reaching Rp. 18.49 billion after posting a loss of Rp. 8.89 billion in 2020. Currently, the Company's Return on Assets (ROA) position is recorded at 3.25 percent and Return On Equity (ROE) of Rp. 10.98 percent.

In facing business competition, the Company has a reliable business strategy in improving business and business performance in the next few years. Because the Company has a number of advantages including more than 32 years of experience in the distribution business of raw materials and chemical goods, so that it has high skills which become the main strength in facing business competition and developing various strategies.

Another advantage is that the Company is highly adaptive to changes and new technologies, high efficiency, smart strategy, Good SOP and GCG as well as strong integrity.