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PT Dharma Polimetal Tbk. (“DRMA”) Public Expose November 2023
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Disclaimer
The materials in this presentation are prepared by PT Dharma Polimetal Tbk (“DRMA”) and contain general background information about
DRMA business performances as at the date of this presentation. This presentation is subject to change without prior notice.
This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast
financial information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding,
purchasing or selling securities or other financial products or instruments and does not take into account their particular investment
objectives, financial situation or needs. Before acting on any information, readers should consider the appropriateness of the information
having regard to these matters, any relevant offer document and in particular, readers should seek independent financial advice.
This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations with
respect to DRMA businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific
provisions and risk management practices. Readers are cautioned not to place undue reliance on these forward-looking statements; past
performance is not a reliable indication of future performance. DRMA does not undertake any obligation to publicly release the result of
any revisions to these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of
unanticipated events.
We disclaim any responsibility or liability whatsoever arising which may be brought or suffered by any person as a result of acting in
reliance upon the whole or any part of the contents of this report and neither DRMA and/or its affiliated companies and/or their
respective employees and/or agents accepts liability for any errors, omissions, negligent or otherwise, in this report and any inaccuracy
herein or omission here from which might otherwise arise.
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1. Company Profile
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Triputra Group – The Founding Shareholders
Dharma Group is the biggest manufacturing company under Triputra Group
AGRICULTURE MANUFACTURING MINING TRADING AND SERVICES
DHARMA GROUP (DRMA) DAYA GROUP
TRIPUTRA AGRO PERSADA (TAPG) ADARO (ADRO)
Leading Automotive Component One of Largest Motorcycle Distributors
Palm Oil Plantation Largest Coal Mining
Manufacturing
ASSA GROUP (ASSA)
Leading Integrated Mobility &
DHARMA SATYA NUSANTARA (DSNG) PAKO GROUP PADANG KARUNIA GROUP
E-Commerce Logistic
CPO Plantation and Timber Largest Wheel Rim Manufacturing Integrated Coal Mining & Services Company
PUNINAR LOGISTIC
Integrated Logistic Solution Provider
KIRANA MEGATARA (KMTR) BINA BUSANA INTERNUSA GROUP TRIPUTRA ENERGI MEGATARA
Largest Crumb Rubber Processor Garment Retailer & Exporter Energy Trading & Distributor TIGA DAYA DIGITAL INDONESIA
Technology & Cloud Service Provider
SUMBER ENERGI PANGAN ANUGRAH MORTAR UTAMA
Primary Food Mortar Producer PRAKARSA TRIPUTRA SOLUSI
Tech-enabled SME Supply Chain Solution
KEDAI SAYUR Provider
Modernizing & Digitizing Fresh
STT GDC INDONESIA
Products Supply Chain & Groceries
Data Center Provider
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Dharma Polimetal is the holding company for automotive component
manufacturing within Dharma Group
Vision
To Be The World Class Manufacturing Company and To
Give Positive Contributions to the Stakeholders
PT DHARMA POLIMETAL Tbk Mission
To Provide The Best Quality and Most Competitive
• DRMA is fully integrated in the manufacturing and production of Products in Automotive Components and Act as a
automotive components Strategic Partner to our Customers through Excellent
Operations and Human Resource
• With 7 subsidiaries + 2 JVs; each focusing on specific component
production, DRMA is in a great position to capture significant market
share in the auto parts manufacturing industry Values
• The businesses include manufacturing, assembling, and delivery of Integrity & Ethics Compassion
products Excellence Humility
• The wide range of products positioned the Group strategically as a
Motto
leader in the production of various vehicle components and as an
attractive local partner to foreign investors “Dharma Exist to Contribute”
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Dharma Group Structure
1. Irianto Santoso (5.10%)
2. Iwan Dewono Budiyuwono (4.63%)
3. Hadi Kasim (3.99%)
4. Yosaphat Panuturi Simanjuntak (1.29%)
5. Philipus Naftali (1.28%)
PT. Dharma Inti Anugerah PT. Triputra Investindo Arya 6. Endang Ahmad Zakaria (0.65%)
7. Public (21.30%)
47.60% 14.16% 38.24%
51% Sankei Dharma 49% 49% Dharma Kyungshin 51%
Indonesia (SDI) Indonesia (DKI)
Dharma Polimetal Tbk
99.99% 99.99% 93.40% 99.99% 85.90% 99.00% 72.75%
Dharma Electrindo Dharma
Saikono Otoparts Dharma Precision Dharma Precision Dharma Poliplast Trimitra
Manufacturing Controlcable
Indonesia (SOI) Tools (DPT) Parts (DPA) (DPP) Chitrahasta (TCH)
(DEM) Indonesia (DCI)
14.10% 27.25%
1.00%
0.01% 0.01% 6.60% 0.01% 1. Hong Kuo Ming (7.07%)
2. Subagjo (2.50%) PT. Dharma 1. Meity Frida (17.25%)
PT. Dharma Precision PT. Dharma Inti PT. Dharma Precision 3. Anton Riawan (2.36%) Electrindo 2. Djohan Tamsir (10.00%)
Tools Djohan Gautama
Anugerah Tools 4. Liao Chin Hsin (2.10%) Manufacturing
associate entities individual shareholders
subsidiary companies minority shareholder(s) 6
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Experienced Management Team in Automotive Industries
Board of Commissioners Board of Directors
Irianto Santoso
Hadi Kasim Noel Aelyo Laras K. N. President Director
President Commissioner Commissioner 30+ years of experience in automotive
30+ years of experience in 10+ years of experience in industry including in Astra Group
automotive, agribusiness, various industries in
and logistic industries Indonesia
including in Astra Group Yosaphat P. Simanjuntak
Director
Didik J. Rachbini Soekamto Tjahjonoadi 30+ years of experience in automotive
Commissioner Independent Commissioner industry
30+ years of experience as 30+ years of experience in
economic observer and automotive including in Wieky Hedivendra
advisor Astra Group Director
30+ years of experience in automotive
and financial industry including in Astra
Iwan Dewono B. Gatot Sudariyono Group
Commissioner Independent Commissioner
Darmawan Widjaja
30+ years of experience in 30+ years of experience in
automotive, mining, and Director
various industries in
healthcare industries Indonesia 30+ years of experience in automotive
and financial industry including in Astra
Group
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Dharma Group Plant Locations with Total Land of More than 35 Hectare
DRMA
DRMA
Land : 46,500 m2
Building : 2,400 m2
Land : 136,000 m2 | Building : 80,000 m2
DEM DEM
Land : 22,800 m2
DPA DPT Building : 15,400 m2
Land : 13,500 m2 | Building : 13,250 m2
DCI SDI TCH
Land : 43,000 m2
Land : 13,300 m2 | Building : 7,400 m2 Building : 17,000 m2
TCH
Land : 4,800 m2 | Building : 3,000 m2
DPP Land : 28,000 m2 | Building : 10,500 m2 DKI
Land : 9,862 m2
Building : 17,466 m2
Land : 23,000 m2 | Building : 16,000 m2
Land : 29,000 m2 | Building : 12,500 m2
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DRMA’s subsidiaries new plants in Jababeka, Cikarang
PT Dharma Controlcable Indonesia PT Dharma Precision Parts
1.0 9,800 1.0 9,000
Land Size Building Size Land Size Building Size
ha sqm ha sqm
Q1 Q2
2 Floor Completion 2 Floor Completion
2024 2024
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DRMA’s 9M23 Consolidated Revenue of around Rp 4.2 Tn
Dharma Polimetal Dharma Electrindo Manufacturing
Fastener Frame Body Swing Arm Main Harness
Motorcycle Rear Seat
Revenue Main Harness Revenue
Entertainment
9M23 : Rp 2,115 Bn 9M23 : Rp 876 Bn
% to Consol : 49.8% % to Consol : 20.6%
Muffler Steering Handle
Suspension Member
Back Sensor Corner Sensor
USB Charger
Fuel Filler Neck
Beam Comp
Steering Hanger
Dharma Poliplast Dharma Controlcable Indonesia
Cover Front Lower Cover Gril Radiator Cowling Upper Cable Comp Cable Comp Cable Comp.
Revenue Speedometer Seat Lock Rear Brake Conn Revenue
9M23 : Rp 236 Bn 9M23 : Rp 187 Bn
Cap Radiator % to Consol : 4.7% % to Consol : 4.4%
Protector Muffler Lens For Door Kit Parking Brake
Reserve Tank
E-Bike Battery Pack Electric Scooter
Battery Pack
Helmet
Body Cover Cowling Side Front
Trx-3 Motorcycle Seat Cable Comp. Fr
Brake Con
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DRMA’s 9M23 Consolidated Net Profit of around Rp 530 Bn
Dharma Precision Parts Dharma Precision Tools
Spring Adjuster YOKE 5D9 Special Purpose Ventilator
Roller Weight & Universal Revenue
Revenue Machine
Slider Robot
9M23 : Rp 196 Bn 9M23 : Rp 78 Bn
% to Consol : 3.8% % to Consol : 1.0%
Tank Modulator All
Type Stem Handle 2DP Checking Fixtures
Dies
Special Cutting Tool
Cap. Comp Brake
Pipe Head 1WD
Saikono Otoparts Indonesia Trimitra Chitrahasta
Trading Company
Fully Commencing in 2018 Brake Pedal
Revenue Revenue
Supplier 9M23 : Rp 159 Bn Steering Handle 9M23 : Rp 512 Bn
% to Consol : 3.9% % to Consol : 12.1%
Seat Frame
Customer Cross Member Feb – Sep 2023
Polypropylene Sub Frame
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DRMA’s Joint Ventures with Global Japanese and Korean Companies
Sankei Dharma Indonesia Dharma Kyungshin Indonesia
Pipe Assy Exhaust
Sash Comp R/L Rr Door Up Revenue Revenue
Converter Assy w/
Monolithic 9M23 : Rp 837 Bn Fully Commencing 9M23 : Rp 265 Bn
in 2022
Wiring Harness
Stargazer Creta
Total JV’s Revenue of Rp1,102 Bn
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Strategic Alliance Ecosystem and Distinctive Partnerships
Business
partners
Raw Materials
& Equipment
2W
components
Integrated OEM Autoparts
Strategic Engineering
– R&D –
Procurement Manufacturing 4W
components
–
Technology
Partners
Global auto-technology players
provide technical assistance and Others
transfer know how
New
Components Opportunity Auto Components and
Others
Other Innovative Products
Long-term
customers
➢ DRMA Group strive to continuously looking for new opportunities in the auto parts market through extensive R&D by producing formerly
Japanese imported components locally.
➢ In the future, DRMA Group expect future growth driver from 3W, Commercial Vehicle Components as well as EV auto parts primarily through
DRMA’s 3W owned brand, and also Battery Pack and HSS Material for 2W, 3W and 4W EV. 13
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2. Company’s Strategies
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Indonesia’s market is on the verge of rising due to supportive macroeconomics condition
Indonesia has Robust Economics Figures over the Years Room for Growth of 4W Market in Indonesia
Indonesia’s GDP vs GDP per Capita
(Car / 1,000 people)
Vietnam 53 4,164
GDP : Rp19.588 tn GDP per Capita
GDP : Rp15.594 tn in USD
GDP/Capita : Rp71.0 mn GDP/Capita : Rp55.9 mn
Indonesia 82 4,788
25,000 80,000,000
in Trillion Rupiah
70,000,000
20,000 Philippines 120 3,499
In Rupiah
60,000,000
15,000 50,000,000 3.4x
40,000,000 China 221 12,720
10,000 30,000,000
20,000,000
5,000
10,000,000 Thailand 280 6,909
6.6x
- -
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 9M23
South Korea 526 32,255
GDP GDP/Capita
Malaysia 542 11,972
1st Indonesia has the biggest GDP in ASEAN with 11-year CAGR of 8.7% Japan 661 33,815
USA 908 76,399
In 2022, Indonesia GDP per Capita ranks 5th in ASEAN with 11-year
5th
CAGR of 7.5%
Source: CEIC Data Global Database, GDP 2022 World Bank, Wikipedia, BPS
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Strengthening DRMA’s position to capture new opportunities in automotive industry
Growth of Indonesian 4W New Products DRMA’s Sales Contribution
Total: Becoming the first Indonesian manufacturing company to
1,700 1,522 60%
manufacture automotive components with high added value
in Thousand Rupiah
1,500 Total: 14.4% Significant
40%
1,300 1,135 15.8% increase of 4W
1,100 20% Covid-19 33.3% contribution;
900 11.8% 29.3%
0% in line with
700 22.2%
500 -20%
DRMA’s long-
300 term strategy
-40%
100 Suspension Member 10.6% 66.1% 54.8% 52.3%
(100) -60% 18.1%
2016 2017 2018 2019 2020 2021 2022 2023 71.3%
9M
2020 2021 2022 2023
DOMESTIC EXPORT GROWTH Total Production 9M
2W 4W Others
Source: Gaikindo 4W : 1,060,823 units
2W : 4,997,792 units*
Growth of Indonesian 2W 9M23
8,000 40% *2W Production of AHM and YMMI
7,000 Total:
in Thousand Rupiah
5,965 Total: 20%
6,000 5,272
5,000
1 Penetrating into New Brands 3 Increasing Market Share
0%
4,000 DRMA is actively tapping new market by supplying to Yamaha DRMA will consistently stay ahead in the automotive industry
3,000 -20% in Indonesia through newly acquired Trimitra Chitrahasta by continually expanding its market share for each product.
2,000
-40%
1,000
- -60% 2 Preparing for EV 4 Manufacturing New Products
2016 2017 2018 2019 2020 2021 2022 2023
9M • Indonesia is on the phase of transforming its 2W market to EV Acquiring new products that never been produced before, is
DOMESTIC EXPORT GROWTH • DRMA is ready to support its production one of DRMA’s key strategies to boost its revenue
Source: Asosiasi Industri Sepeda Motor Indonesia (AISI)
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New Acquisition : Trimitra Chitrahasta – Overall Business Model
Industry Customers
Business Overview Automotive Component Manufacturing
► Automotive component manufacturer, which
specialized in metal stamping, welding and bending
processes as well as dies, jig and checking fixture
Principal Activities Brake Pedal Seat Frame Cross Member
► Supplying to Original Equipment Manufacturing in
Indonesia
► Products include 2W, 4W and commercial vehicle
etc
Established 18 May 1994
Delta Silicon 2 Industrial Estate, Lippo Cikarang, Bekasi,
Office Cross Beam Reinforce
Jawa Barat
Factory Cikarang & Cirebon
Total Employees 930
► PT Dharma Polimetal Tbk. = 72.75%
Shareholders
► Meyti Frida = 17.25%
Structure etc
► Djohan J. Tamsir = 10.00% Customers
Steering Handle Sub Frame
Income Statement Balance Sheet
260
747
441
181
4.58%
Cover Protector
Pipe Exhaust
2022 2022 Muffler
NPM % Revenue Assets Liabilities Equity
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New Acquisition : Trimitra Chitrahasta – Production Plants
Cikarang Plant
Production Lines
2.3 ha
Small Press Medium Press
810 Employees 1.6 ha
Cirebon Plant
120 Employees 4.3 ha
Portable Spot Welding Robotic Welding
1.7 ha
CNC Bending Stationary Spot Welding
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4W: New Production Site to Boost DRMA Potential Revenue
Establishment of a New Factory located in DRMA’s Headquarter at Cikarang, West Java
Production Facilities at DRMA’s HQ Fully-automated Production Facilities Brand New Stamping Machine, KOMATSU Expanding DRMA’s Product Portfolio
Suspension
Member
PP
Member
20 Robot Welding
Total Area & Building
1000T 500T 500T 500T
~7,700 m2 5 Robot Spot Welding
2 Robot Handling
1 Capex amounting to IDR239 Bn from IPO
2 Completion of the new factory completion
3 Mass production is already underway
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DRMA’s readiness to accommodate the EV needs in Indonesia
Regulatory incentives supporting the EV growth in Indonesia DRMA’s tactical strategies in penetrating EV-era
1 PP No. 74/2021 Due to this supportive actions by Indonesian government, EV in Indonesia is expected to grow rapidly in the upcoming future.
DRMA has been preparing comfortable strategies to capture this market, such as:
The imposition of value added tax on luxury goods at 0%
(PPnBM)
1 Strengthening EV-related Subsidiaries 2 R&D on Battery-related Products
2 PERGUB No. 3/2020
0% tax on Electric Vehicle ownership in DKI Jakarta DRMA has been developing and focusing on electronic DRMA has been conducting in-depth research and development as
component, sensor and wiring harness for EV which is nerve of the well as launching Battery Pack and Battery Management System
3 PERDA No. 9/2019 Electric Vehicle through its subsidiaries: through its B2C products.
10% tax on 4W EV ownership & 2.5% tax on 2W EV ownership • PT Dharma Electrindo Manufacturing • Research and Development Process
in West Java
4 BI Regulation No. 22/13/PBI/2020
Min. 0% down payment and low interest rate for EV
5 Electricity Fare Reduction
10% tax on 4W EV ownership & 2.5% tax on 2W
EV ownership in West Java
• PT Dharma Kyungshin Indonesia • Retail Products
6 PERGUB No. 88/2019
EV is free of “Odd-Even” policy
Indonesian government expects rapid
growth in EV population, with
2W Conversion
3 million units in 2025 from ICE to EV
Brushless DC Motor (BLDC)
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Subsidiaries: New Production Site for Business Expansion
Dharma Controlcable Indonesia
Objective & Strategy
• Increasing DCI’s contribution to DRMA
1.0 9,800
Land Size Building Size
consolidated figures ha sqm
• New factory in Jababeka area for DCI business
expansion, especially in the manufacturing of Q1
battery pack 2 Floor Completion
2024
Dharma Precision Parts
Objective & Strategy
• Increasing DPA’s contribution to DRMA 1.0 9,000
Land Size Building Size
consolidated figures ha sqm
• New factory in Jababeka area for DPA business
expansion, which namely to increase DPA’s Q2
product portfolio 2 Floor Completion
2024
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DRMA to build EV ecosystem in Indonesia
Charging Station for 4W Charging Station for 2W
Development by Development by
Dharma Controlcable Indonesia
Dharma Precision Tools
Charging Power
Charging Power
7 KW
• 7 KW
• 30 KW
• 120 KW Design Prototype by DRMA
Battery Swap
DRMA’s battery will
be compatible with
our charging port
dispenser
Battery Pack by
Dharma Controlcable Indonesia
Design Prototype by DRMA
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The First Indonesian Manufacturer to Produce 3W Vehicle to Capture SME Market
ICE PowerAce Dealers Locator EV
Existing
33 Current Dealer
Target
40 2023 75 2024 100 2025
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3. Financial Performances
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9M23 Double Digit Growth Across The Board
Revenue (Rp bn) Gross Profit (Rp bn)
4,246
771
2,659
404
18.2%
15.2%
9M22 9M23 9M22 9M23
EBITDA (Rp bn) Net Profit (Rp bn)
530
818
439 252
12.5%
19.3%
16.5% 9.5%
9M22 9M23
9M22 9M23
Source: Company’s Financial Statement 25
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Segment Contribution
Revenue (Rp bn) Revenue Contribution (%)
YoY Growth
610 44.6% 15.9% 14.4%
1,414 78.3% 29.8% 33.3%
422
793
53.9%
2,221 54.3% 52.3%
1,444
9M22 9M23 9M22 9M23
2W 4W Others 2W 4W Others
Gross Profit (Rp bn) Gross Profit Margin (%)
YoY Growth 18.2%
15.2%
57 14.6% 9.3%
239 11.7%
93.4%
16.9%
49 15.6%
123
475 105.6%
21.4%
231 16.0%
9M22 9M23 9M22 9M23
2W 4W Others 2W 4W Others
Source: Company’s Financial Statement 26
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Consolidated Group Financial Performance
Revenue (Rp bn)
4,246
3,905
2,729 2,913 2,659
2,452
1,875
2018 2019 2020 2021 2022 9M22 9M23
Gross Profit (Rp bn)
15.0% 16.6% 15.5% 15.7% 15.2% 18.2%
11.8%
771
614
452 452 404
367
221
2018 2019 2020 2021 2022 9M22 9M23
27
Source: Company’s Financial Statement
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Consolidated Group Financial Performance
EBITDA (Rp bn) Net Profit (Rp bn)
16.9% 16.5% 19.3% 7.3% 10.2% 9.5% 12.5%
13.1% 13.9% 9.4% 15.1% 5.1% 6.4% 0.4%
818
530
659
397
440* 439
379 252
320 213*
174
176 124
8
2018 2019 2020 2021 2022 9M22 9M23 2018 2019 2020 2021 2022 9M22 9M23
Source: Company’s Financial Statement
28
*excludes one off gain on sales of land asset in FY21: Rp93 bn
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Strong Financial Position
Total Assets (Rp bn) Total Equity (Rp bn) Financial Ratios
Current Ratio
1.4 1.3 1.3
1 1
3,369
1,935
2019 2020 2021 2022 9M23
2,683
2,537 Total Liabilities / Equity
1,403 2
1.8
1.3 0.9 0.7
1,082
1,619
1,515
2019 2020 2021 2022 9M23
**
32.2% 34.9%
540 532 28.3%
19.7% 20.0% **
11.5% 1.5% 14.8%
0.5% 8.4%
2019 2020 2021 2022 9M23 2019 2020 2021 2022 9M23 2019 2020 2021* 2022 2023**
ROA ROE
Source: Company’s Financial Statement
29
*excludes one off gain on sales of land asset in FY21: Rp93 bn **last twelve months
Page 30
PT Dharma Polimetal Tbk PT Dharma PT Dharma PT Dharma PT Dharma PT Dharma PT Sankei PT Dharma PT Saikono PT Trimitra Electrindo Poliplast Controlcable Precision Precision Dharma Kyungshin Otoparts Chitrahasta Manufacturing Indonesia Parts Tools Indonesia Indonesia Indonesia PT Dharma Polimetal Tbk Head Office: Jl. Angsana Raya Blok A9 No. 8 Delta Silicon 1 Cikarang 17550 p. (6221) 897 4637 / (6221) 897 4559 f. (6221) 899 01656 www.dharmagroup.co.id
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