JAKARTA. PT Surya Biru Murni Acetylene Tbk (SBMA), a chemical manufacturer established in 1982, recently signed a Memorandum of Understanding (MoU) regarding the purchase of one Air Separation Unit to support production increase.
Cintia Kasmiranti, Corporate Secretary of SBMA, revealed that the said production facility was acquired from Chun An Ming Rong Import and Export Co Ltd, a Chinese company. In the information disclosure in Indonesia Stock Exchange (IDX) today (9/2), Kasmiranti confirmed that the seller is not affiliated with SBMA.
The transaction of Air Separation Unit machine purchase signed by SBMA and Chun An Ming Rong amounted to MYR 8.64 million, equal to IDR 19.48 billion. “The funds are sourced from the IPO proceeds and long-term loans,” Kasmiranti explained.
The additional production facility will directly raise production capacity. It is a part of the production plant development program of SBMA, which is intended to handle increased demands.
Based on idnfinancials.com data, last September, SBMA disclosed its plan to enhance its production capacity to 10 million litres per year. Previously, the production capacity of SBMA’s factory is only capped at 2 million litres per year. (KR/ZH)