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Public Expose Material
2024
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Table of Contents
1 EXECUTIVE SUMMARY
Executive Summary
2 INTRO AND OVERVIEW
About Us, Shareholder Structure, Management, Products
3 KEY INVESTMENT HIGHLIGHT
Internal and External Factors of the Company’s Growth
4 FINANCIAL HIGHLIGHT
Company’s Financial Overview
5 APPENDIX
Balance Sheet, Income Statement
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1 EXECUTIVE SUMMARY
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Executive Summary
About the Company Key Features
P T Multi Spunindo Jaya T bk is a leading nonwovens manufacturer in Indonesia. ✓ Nonwoven identified as a niche matket which
T h e Company conducts its business as a Business to Business (B2B) basis , which used as basic materials of various product
supply raw material to make finished products for their customers. ✓ MSJA has differentiates their sales portfolio
Growing which makes the growth of sales sustain despite
Niche Market of current market implication
• Established: 1997 • Consolidated Production Lines: 13 ✓ MSJA aim to increase their position in
lines healthcare sector that has potential growth
• Location: Sidoarjo, East Java, Indonesia • Operation Hour: Non-stop 24hours around 9.7%
with three shifts ✓ With 26 years experience the Company has
• Consolidated factory Area: 150,000 sqm
• Brand: actively invest in new product lines
Product
• Total Consolidated Installed Capacity: ✓ Starting with one production line (spunbond) in
Innovation
1997, now the Company has 13 lines including
54,250 MT/year spunmelt, meltbown and needlepunch
Application of Nonwovens in Various Industries Product Concentration ✓ Long lasting relationship with customer, proven
the Company has manage good quality of
• Face Mask Strong products and customer engagement
Healthcare • Bouffant Cap Relationship
• Medical Gown with Sales
Customers CAGR 2020 – 2024
• Desiccant Bag
Consumer 40%
• T e a Bag
Goods • Shopping Bag 60% 3.8%
Property • Roofing Underlay
Agriculture • Crop Cover Passed ISO 9001: 2015 – Gold Award Sistem
Oil and Gas • Oil Absorbent Pads and Pillow Industry Quality Management Manajemen Keselamatan
• Headrest Cover Systems by T Ü V & Kesehatan Kerja
Automotive Standard
• Headliners and Molding Industrial Hygiene & Medical Rheinland (SMK3) in 2023
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2 INTRO AND OVERVIEW
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Leading Nonwovens Manufacture in Indonesia
MSJA aims to change lives everywhere through our HEIGEN and TEXSOIL ® nonwoven materials and innovative
technology.
• Number of Employees: 810 people Vison
T o be the people’s daily-life solution corporation
• Consolidated factory Area: 150,000 sqm
• Consolidated Production Lines: Mission
o Spunbond and Spunmelt: 9 lines • T o provide right quality products for a
o Meltblown: 3 lines superb customer experience
o Needlepunch: 1 line • To develop human competencies &
character under solid corporate governance
• Total Consolidated Installed Capacity: • T o build a harmonious community that
54,250 MT/year epitomizes integrity, productivity, creativity
and persistence for a sustainable legacy
UNIQUE VALUE PROPOSITION HOW WE WIN T H E MARKET OUR ACTIONS OUR COMMITMENTS
✓ World-class product for ✓ Focus on developing
✓ Environmental responsibility
✓ Relatively lower production domestic and international environmentally friendly and
focuses on reduce, reuse, and
cost and environmentally market more efficient production
recycle through our recycling
friendly compared to ✓ Has been selected as one of processes
plant
traditional textile the best manufacturing ✓ Aim to expand product
✓ Product quality
✓ Tailored product specification corporations in Indonesia portfolio to healthcare sector
✓ Innovation in raw materials
based on customer request to grab current market
and production technology
potential demand
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Key Milestones
MSJA focus on investing in product and technology innovation to satisfy
customers
Further expansion of PP
spunbond and meltblown
Establishment and lines
initial production of Installation and
Polypropylene (“PP”) Initial production of 3D
initial production Initial production
and Polyester Initial production of Establishment of embossed spunbond Further expansion of PP
of PP meltblown of PP spunmelt
(“PET”) spunbond nonwovens composite products for P T Trias spunbond lines for
(SSMMS) industrial application Spunindo Industri T S I started its industrial application
nonwovens operation
2024
1997 2002 2006 2007 2011 2012 2016 2017 2018 2019 2020 2021 2022
Onwards
Further expansion of our Establishment of Initial production Initial pilot production of Further expansion of New product
Installation of our spunbond line with latest PT S&S Hygiene of chemically ultra-thin absorbent core PP spunmelt line for SAP
second spunbond line bicomponent technology Solution treated spunbond (SAP Sheet) for hygiene (SSMMS) lines for Sheet
for PP, Polyethylene (“PE”) market hygiene and medical
and P E T
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Shareholding
Structure
Harry Hartono Herjanto P T Maju Selaras Jayamerta Lunardi Basuki Sasongko Basuki
Herjanto (MSJAM)
12.10% 6.36% 58.10% 6.36% 6.36%
50.00% 45.00% 99.98% 90.00%
MSP MSJT
P T Trias Spunindo Industri P T S&S Hygiene Solution P T Multi Spunindo Properti P T Maju Selaras Jayantara
(TSI) (S&S)** (MSP)* (MSJAT)*
* Not operating
** Associated entity
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Management
Team
Lunardi Basuki Harry Herjanto Pradhono
President Commissioner Commissioner Independent Commissioner
With over 26 years of experience in With over 26 years of experience in With over 31 years of experience
the nonwoven industry the nonwoven industry as an accountant
Sasongko Basuki Roslin Octavia Basuki Takushi Ishimoto
President Director Director Director
With over 26 years of experience in With over 29 years of professional With over 22 years of experience
the nonwoven industry experience in finance in the nonwoven industry
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Materials and Technologies
Nonwovens are highly versatile fabrics that are manufactured using a combination of techniques from the textile, plastics and paper industries.
Production Lines: non-stop 24 hours with three shifts Our Facilities
● Polypropylene (PP) Spunbond
● Polyester (PET) Spunbond
● Bicomponent (Bico PET/PE Sheath-Core) Spunbond
● Polyethylene (PE) Spunbond
Spunbond
● Biodegradable (PLA) Spunbond
● Chemical Coated Spunbond
● 3D Embossed Spunbond
● Powder Scattered Spunbond
PP Lines for Hygiene Polyester (PET ) SAP Sheet and C-
and Medical Spunbond Lines Folding Line
Meltblown
● Polypropylene (PP) Meltblown
● Polypropylene (PP) Spunmelt SSMMS
Spunmelt
● Industrial Absorbents (Pads, Pillows, Sock, Marine Supporting Machines
Colored and Tailor- Polypropylene (PP)
● Water-based Chemicals
Composite
Boom)
Materials
Meltblown Lines
● Spunbond / Breathable PEF Composites Coating Machine
madeSpunbond Lines
● Ultra-thin Absorbent Core (SAP Sheet) ● Ultrasonic Dimple
Lamination Machine
● Nonwoven Geotextile ● 3D Embossing Machine
Needlepunch
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HEIGEN and TEXSOIL ®
Heigen: our flagship product for diverse industries
Our Brand Application of Nonwovens in Various Industries
TEXSOIL®
Textiles Plastics
Our HEIGEN nonwovens can be tailor-made to have TEXSOIL ® is a product from TSI. It is considered as Nonwovens
unique features such as: one of the Trusted Geosynthetic Products made in
Indonesia. TEXSOIL ® has been recognized with a
• Thin and lightweight, with high strength TKDN Score Certification of 86% by the Indonesian
• Fine filaments and excellent uniformity Ministry of Industry. Paper
• Soft, smooth and breathable
• Durable with effective resistance to heat, UV and Our modern manufacturing facilities are equipped
abrasion with state-of-the-art machinery and up-to-date control • Face Mask
• Wide range of basic weights, special treatments systems. This ensures highly reliable production
and colors Healthcare • Bouffant Cap
operations and consistent products. TEXSOIL ® is
• … and many more used for separation, reinforcement, filtration, • Medical Gown
drainage and protection. • Desiccant Bag
Consumer Goods • Tea Bag
TEXSOIL ® product variants:
• Vertical Garden • Shopping Bag
• Geobags Property • Roofing Underlay
• Paving Underlay
Agriculture • Crop Cover
Oil and Gas • Oil Absorbent Pads and Pillow
• Headrest Cover
Automotive
• Headliners and Molding
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3 KEY INVESTMENT HIGHLIGHTS
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Key Investment Highlights
Potential growing market
Versatile and innovative products
Reliable and innovative supplier for high-profile projects
Global reach with loyal customers and suppliers
Committed to reduce carbon footprint
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Potential Growing Market (1/2)
1 A positive outlook for future growth.
Industry Outlook*) (in USD Bn)
Market Size – World Nonwoven Fabric Market
72.19
53.90 ✓ T h e Nonwovens Market is a dynamic and growing sector that offers a wide range of
products for various industries. T h e market value of nonwovens is projected to increase
from USD 53.90 billion in 2023 to USD 72.19 billion in 2028, with a compound annual
2023 2028 growth rate (CAGR) of 6.02% during the forecast period (2023-2028).
Top contributor of growth are Medical and
Health, Automotive, and Construction
✓ Indonesia has high economic growth in the Southeast Asia region and is estimated to grow
with the highest CAGR rate in the nonwovens industry.
✓ T h e increase in spending of major economies on health facilities is also expected to boost
the healthcare industry's growth further, thereby strengthening the market demand for
nonwoven fabrics during the forecast period.
✓ Between 2017-2022, the CAGR of Retail Sales Tissue and Hygiene Products in Indonesia is
9.7%.
*) Source: Mordor Intelligence -Global Nonwoven Market
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Potential Growing Market (2/2)
1 Exploring the demand potential from diverse sectors as they grow and thrive.
Sector Growth Nonwoven Application Advantages of Nonwoven
• Protection against small particles in
• Surgical: single-use caps, gowns,
Nonwovens products are essential to prevent infections and diseases the air.
face masks, scrub suits shoe
from spreading through their safety features. Th e growth of the • Compliant with European Union
Medical covers, head covers.
healthcare industry will also increase the demand for nonwovens standard EN 13795.
• Lab coats
market. • Breathability, abrasion resistance and
• Procedure packs and heat packs
lint free.
Nonwovens products are vital for the automotive industry as they make
• Interior • Strong and light
cars lighter, safer, more comfortable and attractive. T h e Indonesian
• Headliners, dashboard insulation, • Resistant to abrasion
automotive market is expected to grow at a significant CAGR between
interior, and airbags • Resistant to heat
Automotive 2023 and 2030. A study estimates that one possible scenario in
• Engine • Air filtration
Indonesia is an additional market expansion of US$17 billion, driven
• Wheel housing, hood insulation, • Ready to be sewn, quilted, dyed and
primarily by domestic sales, with limited spillover effects on exports
filtration, and heat shields. laminated
and services.
• PVD, PHD, Geotextile • Superior tear strength
T h e new National Capital City (IKN), the Government’s infrastructure
• House wrap and Roofing • Multidirectional elongation
Construction projects, and the rising demand for housing are driving construction
• Covers for acoustic ceiling, • High UV stability
sector in Indonesia .
• Concrete molding layers. • High durability
Nonwovens products are mostly used for hygiene products as • Diapers • Hydrophilic
nonwovens are hydrophilic and soft. T he CAGR of retail sales of • Adult incontinence • Silky soft
Hygiene diapers, adult incontinence, and sanitary protection in Indonesia • Sanitary protection • Anti-bacterial / anti-virus
between 2017-2022 are 8.9%, 24.0, and 10.3% respectively*. • Under pads
*Source: Euromonitor -Tissue and Hygiene in Indonesia Report
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Versatile and Innovative Products
2 MSJAA have the ability to process various types of polymers, giving the company a unique edge in the nonwoven market.
Tailored Product & Wide Product Application Concentration
Application
T ensile/Puncture Industrial
Silky Soft Resistant 40%
60% Hygiene &
Medical
Water
HYGIENE CONSTRUCTION
Hydrophilic Permeable
Anti-UV Hygiene & Medical Industrial
Anti-
bacterial /
Anti-virus • Baby Diapers • Geotextiles
• Adult Incontinence • Automotive
Flame Retardant
• Sanitary Napkins • Construction
• Medical / Protective • Household
Anti-static Gowns • Packaging
MEDICAL AUTOMOTIVE
• Under pads • Agriculture
Abrasive • Face Masks • Filtration
Resistant
Water/Alcohol
Repellent
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Reliable and Innovative Supplier for High-Profile Projects (1/3)
3 MSJAA next development to meet customer expectations.
SAP (Super Absorbent Polymer) sheet is our ultra-thin, lightweight
composite material with superior liquid absorption capabilities.
Our SAP sheet is designed to replace the traditional absorbent
core of baby diaper, adult incontinence and sanitary napkin
products. This is our vision for the future of the hygiene market.
Change Up to 40% thinner Superior absorption
to SAP
and lighter* capacity per gram
Sheet
Cost savings for Highly
the manufacturer customizable
* Data based on average commercial diapers in the Indonesian market
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Reliable and Innovative Supplier for High-Profile Projects (2/3)
3 MSJAA have a wealth of experience in delivering high-quality products and services to both regional and domestic markets, working with some of the most
prestigious and demanding clients.
Lists of Projects Project Name Year Note Country
Tanjung Pelepas 2009 Seaport Indonesia
Changi Airport Terminal 3 2014 Airport Singapore
Seri Tanjung Pinang (STP) 2016 Seaport Malaysia
Pakuwon Housing Complex 2017 Housing Indonesia
MIA Bulacan, Philippines 2019 Airport Philippines
Freeport Smelter, Gresik 2019 Industrial Estate Indonesia
Gili Mas Seaport, N T B 2019 Seaport Indonesia
Karingga, N T T 2019 Water ponds Indonesia
Makassar New Port Terminal 2 2020 Seaport Indonesia
Ho Chi Minh to Hanoi highway 2021 Highway Vietnam
Vietnam housing complex - riverside city 2021 Housing Vietnam
Vietnam thermal power plant 2021 Power Plant Vietnam
Indramayu Industrial 2021 Industrial Estate Indonesia
Bali 2021 Erotion Barrier Indonesia
Flood Control, Semarang 2021 Flood Control Indonesia
Batuta Chemical Industrial Park 2021 Industrial Estate Indonesia
Kuala Linggi International Port 2022 Seaport Malaysia
Solo - Jogja Toll 2022 Highway Indonesia
Cipali Patimban 2022 Highway Indonesia
PLTU Sumatra 2022 Power Plant Indonesia
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Reliable and Innovative Supplier for High-Profile Projects (3/3)
3 Project photos.
Water Pond Nickel Mining Area
Smelter Factory Port
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Global reach with loyal customers and suppliers
4 MSJAA have established strong and lasting partnerships with major clients and suppliers across 21 countries in key markets.
• MSJA has more than 200 customers worldwide.
• MSJA’s strong presence mainly in Java with contributions of roughly 30% from East Java, 27% from West Java,
18% from Jakarta, and others spread across Indonesia.
• MSJA actively exports to Asia and Australia with around 16% of our exports to Japan, 16% of our exports
to Thailand, 12% of our exports to Australia, and others spread across the world
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Committed to reduce carbon footprint
5 Company’s green initiative to cut down carbon emissions and costs.
T h e Company has been implementing solar panels to reduce CO2 emissions from excessive use of electricity at the factories and will continue to
commit.
Impact on Environment Future Target
Impact on Environment Additional Solar Panel
Powering 408 homes* for a year We aim to install 4.0 MWp or
equivalent to 6,570 MWh by 2025
Driving 8,380,000 kilometers* in
a gasoline powered vehicle
MSJA runs on solar panels capable of producing
1.8 MWp or 2,960 MWh annually, equivalent to
2,100,000 kg* of savings from greenhouse gas
emissions. Burning 1,050,000 kilograms* of Reducing up to 8% of total
coal energy consumption
*Source: US Environmental Protection Agency
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4 FINANCIAL HIGHLIGHTS
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Solid Financial Profile a. Strong and Stable Financial Metrics REVENUE (USD) GROSS PROFIT MARGIN NETT PROFIT MARGIN PROFITABILITY RATIOS SOLVENCY RATIOS CURRENT RATIOS
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www.spunindo.com +62-31-897 1301, 897 5555 (hunting) @MSJA.nonwoven P T . Multi Spunindo Jaya
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5 APPENDIX
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Balance Sheet (1/3)
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Balance Sheet (2/3)
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Balance Sheet (3/3)
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Income Statement (1/2)
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Income Statement (2/2)
Names mentioned 8 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Ministry of Industry.
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