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Pf. Mark Dynamics
Indonesia Tbk
Tanjung Morawa, 24 Marct 2024
No :O13AyIDI-CORSEC/ILI|ZU25
Kepada Yth.
Direktur Penilaian Perusahaan
PT Bursa Efek Indonesia
Gedung Bursa Efek Indonesia, Tower I, LL
Jl. Jend. Sudirman Kav.52 - 53
Jakarta 12190
Up. : Kepala Divisi Penilaian Perusahaan Group I
Hal : Materi Public Expose Tahunan PT Mark Dynamics Indonesia Tbk
Dengan hormat,
Bersama ini kami sampaikan materi Public Expose PT Mark Dynamics Indonesia Tbk
("Perseroan") untuk tahun 2025.
Demikian kami sampaikan. Atas perhatiannya, kami ucapkan terima kasih.
Hormat kami,
PT Mark Indonesia Tbk
PT. INDONE$IA IbK
Ridwan
Presiden Direktur
Office / Factory : JI. Pelita Barat No. 2, Medan Star Industrial Estate, Jl. Raya Medan - Lubuk pakam Km. 19,5
Tanjung Morawa - Deli Serdang North Sumatra 20362,Indonesia
Phone : {62-61)7940715: (62-61)7940487,Fax : (62-61) 7940747
Email Address : mdcps@nusa.net.id
Page 2
PT MARK DYNAMICS
INDONESIA TBK
The Leader of Glove Former
Maker.
Public
Expose
Page 3
Company Overview
Mark Dynamics Indonesia Tbk
Mark Dynamics Indonesia is a leading global
manufacturer of glove former based in North Sumatra,
Indonesia.
Play a crucial role in the production of nitrile & latex
gloves for various purposes including medical and
industrial use.
The company's clientele spans across various countries,
and MARK holds a 40% market share in the global
glove mold manufacturing industry.
Presently, the company has increased its market
capitalization 19 times since IPO. This significant
achievement has positioned MARK as one of the
successful IPO companies in Indonesia and earned it a
place in “Top 200 Under A Billion” by Forbes Asia in
2022.
Page 4
Industry Overview
What is Glove Former?
Others
3% 13%
Packaging
9%
Glove 45% Nitrile /
A single glove Latex
Former former can be used
to produce 10,000 Labor 9%
gloves or 8 months
of expiration.
9%
RECURRING ORDER Chemical 12%
Fuel
Glove Formers contribute 3% of total disposable glove’s COGS
Which will be inefficient for them to have their own manufacturing due to additional fixed cost and high capex.
Page 5
Industry Overview
What is Glove Former?
In 2024, the global demand is expected to offset the 2018-2019:
industry supply due to inventory cuts.
usual industry growth.
Global Glove Supply & Demand 2020-2021:
Trend, by Region, 2018-2024E industry grew rapidly as COVID-19 drove the
600 demand for medical gloves.
492
500 460 2022-2023:
412 399423 373 397376 oversupply due to lower demand as the virus
Billion Pieces
400 360 371
340
280 300 was slowing down & glove players reduced
300 268 their production.
200
2024:
100 Glove Players cut their stocks due to expiration
& start to produce more as the demand recover.
0
2018 2019 2020 2021 2022 2023E 2024E
Increase the demand for glove formers.
Glove Demand Global Production
Source: Malaysian Rubber Glove Manufacturers Association
(MARGMA).
Page 6
Industry Overview
Disposable Glove Market
The top importers are primarily advanced Malaysia has the biggest glove players such as Hartalega,
countries with high glove consumption per Top Glove, Kossan, and Supermax, followed by China &
capita. Thailand.
Top Rubber Glove Importers Top Rubber Glove Exporters
Share, by Region, 2024 Share, by Region, 2024
Others
Others United 19%
32% States Malaysia
37% 40%
Thailand
19%
European
China
Union
22%
31%
Source: OEC World. Source: OEC World.
Page 7
Industry Overview
Disposable Glove Market
Global Disposable Gloves Market mostly still
led by Healthcare industry.
Global Disposable Gloves Market
Share, by End-use, 2024 (%)
$12.7B
Global Market Size,
2024
8.4%
Global Market CAGR,
2024-2030
Source: grandviewresearch.
Page 8
Company Overview
Vision & Mission
Vision Mission
• To be preferred global high technology hand • Strive to deliver premium high-quality products.
former manufacture. • Employ & retain a dynamics talented workforce.
• To create economics value to all stakeholders. • Commit to enhance efficiency aims to minimize
production cost.
• Generate & adopt new product ideas &
innovations.
• Maintain good relationship with customers &
delivery on time.
Page 9
Company Overview
Board of Commissioners
CHIN KIEN PING DOMPAK PASARIBU
President Commissioner Independence Commissioner
• Malaysian Citizen • Indonesian Citizen
• Born in 1974 • Born in 1973
• Appointed as President • Appointed as Independent Commissioner of
Commissioner of MARK since the company since 2017
2017 • Doctorate degree in Accounting in 2018
• Diploma in Animal and Veterinary Master’s of Accounting Science in 2003
Science from National Pingtung from Universitas Sumatera Utara
Polytechnic Institute, Taiwan in • Bachelor’s degree in Economics from the
1995 Faculty of Economics, Universitas
Methodist Indonesia in 1998.
Page 10
Company Overview
Board of Directors
RIDWAN GOH SUTIYOSO BIN RISMAN CAHAYA DEWI SURBAKTI
President Director Director Independent Director
• Indonesian citizen • Indonesian citizen • Indonesian citizen
• Born in 1983 • Born in 1968 • Born in 1980
• Appointed as President • Appointed as a Director of • Appointed as an Independent
Director of MARK since MARK since 2017. Director of MARK since 2018.
2018 • Worked in MARK since 2002 • Completed her undergraduate at
• Graduated from the Mikroskil • General Manager between the University of North Sumatera
Institute with a Bachelor’s in 2002 – 2009, before being Medan with a major in Chemical
Computer Science. appointed as Commissioner Engineering and graduated in
• Joined MARK in 2008 as until 2014. 2004.
Marketing Manager and
promoted to Director from
2017-2018.
Page 11
Company Overview
Board of Directors
RIANA CHOW KUN JIAN
Director Director
• Indonesian citizen • Malaysian citizen
• Born in 1979 • Born in 1995
• Appointed as Director of • Appointed as a Director of
MARK since 20124 MARK since 2024.
• Graduated from the STIE • Graduated from the Tunku Abdul
Harapan Medan with a Rahman University with a
Bachelor’s in Economic. Bachelor’s in Interantional
• Joined MARK in 2011 as Business.
Manager of Finance and • Joined MARK in 2020 as
Accounting and promoted to Executive Manager and become
Director. General Manager Marketing
since 2021.
Page 12
Company Overview
Ownership Structure as December 31,2024
Tecable HK Co. Sutiyoso Bin Cahaya Dewi
Ridwan Public
Ltd. Risman Surbakti
0.02% 19.77%
42.39% 1.49% 0.24%
99% 99%
PT Dyna Capital PT Mark Capital
Indo Indo
20.70% 15.39%
PT Mark Dynamics
Indonesia Tbk.
Page 13
Company Overview
Company Milestone
Increased production Increased Acquired new land covering
PT Mark
capacity to 80,000 production capacity an area of 2,400 m2 for
Dynamics
pieces per month. to 220,000 pieces increased production.
Indonesia Tbk as
established on per month.
April 10th 2002. The Company won ISO Acquired another land
Expanded Plant 1 consisting
9001 : 2000 quality
capacity through the 3 hectare for future
management standard
acquisition of an expansion.
certification.
additional 3,500 m2 plant
new production capacity
Extension of ISO 9001
is 55,000 pieces per
Certification and
month.
increased its quality to ISO
9001 : 2015.
2003 2007 2009 2014
2002 2005 2008 2011 2016
Build new Increased production Increased production
office building capacity to capacity to 300,000
and meeting 110,000 pieces per pieces per month.
The Company operates
room located month.
with a capacity of
50,000 unit per month in Plant 2.
following with the Extension of ISO 9001
construction of Plant 1 Certification and improve
covering an area of its
3,000 m2 . qualifications to ISO 9001
: 2008.
Page 14
Company Overview
Company Milestone
Completed the acquisition of Establishment of a subsidiary
± 9 Hectare of land. on behalf of PT. Megah Raya Fully operated for 3
Sumatra, which processes MARK plants with total
Increased production waste into toilet and gypsum capacity of 2,000,000
capacity to 540,000 pieces products. pieces per month.
per month.
Increased production capacity to Join Kompas 100
The company split its 740,000 pieces per month. Index as company
nominal shares with a ratio 1 deemed to have
: 5 and shares listed at new Acquired PT Berjaya Dynamics good fundamental,
nominal value of Rp 20 per Indonesia & PT Agro Dynamics sizeable market
share Indo. cap,and high
on Feb 11, 2019 liquidity.
2017 2019 2021 2023
2018 2020 2022 2024
Opening of the
Company’s
The Company New Branch on Jl. Increased The Company won ISO
listed its initial Utama production capacity 9001 : 2015
shares on the Desa Dalu Sepuluh A, to 1,550,000 ISO 14001 : 2015
Indonesia Stock Deli Serdang. pieces per month. ISO 45001 : 2018
Exchange on July Environment
12, 2017. Management System
Increased production
capacity to 610,000
pieces per month.
Page 15
Company Overview
Customer’s Appreciation
HARTALEGA APPRECIATION HALYARD’S APPRECIATION
FOR YEARS OF COOPERATIONS FOR YEARS OF COOPERATIONS
Page 16
AWARDS AND RECOGNITIONS
FORBES 2021
FORBES ASIA FORBES INDONESIA
2021 2021
FORBES ASIA TOP 200 UNDER THE BEST 50 PUBLIC LISTED
A BILLION COMPANIES
16
Page 17
Company Overview
Awards & Recognitions
TOP PERFORMING BEST LISTED COMPANIES 2022
CATEGORY OF MARKET CAPITALIZATION 1-5 TRILLION RUPIAH
FROM BERITA SATU
Page 18
AWARDS AND RECOGNITIONS
FORBES 2022
FORBES ASIA FORBES INDONESIA
2022 2022
FORBES ASIA TOP 200 UNDER THE BEST 50 PUBLIC LISTED
A BILLION COMPANIES 18
Page 19
AWARDS AND RECOGNITIONS
INDONESIA STOCK EXCHANGE (IDX)
2019 2020 2021
THE INNOVATION OF RAW MATERIAL COVID-19 RESPONSE INTEGRATED
2022
THE BEST ROOKIE COMPANY CSR AWARD
PROCESSING FOR HANDFORMER PROGRAM APPRECIATION
19
Page 20
AWARDS AND RECOGNITIONS
BISNIS INDONESIA
2019 2021 2023
BEST PERFORMING LISTED COMPANY BEST STOCK IN INDUSTRIAL PRODUCT ELECTRICAL MACHINES AND COMMERCIAL
SERVICES
20
Page 21
AWARDS AND RECOGNITIONS
CEO of Mark Dynamics, Ridwan Goh, has received several prestigious awards :
- Rising Star Award (IDX Channel & Bisnis Indonesia, 2020)
- CEO of The Year (Bisnis Indonesia, 2021)
21
Page 22
Competitive Advantage
Leader of the Industry
MARK as the leader with the market share of … with the top player of glove maker companies
35% compared to other global competitors… as MARK’s biggest revenue contributor.
Glove Former Market Share MARK’s Biggest Client
Share, 2023 (%)
MARK
Other
40%
Competitors
60%
Source: IDNFinance, Company. Source: Company.
Page 23
Company Overview
Disposable Glove Market
MARK’s client portfolio by country is now well diversified compared to previous years, as the contribution
of Malaysia now is under 50% while China contribution has grown.
MARK’s Clients by Country
Share, by Country, 2017-2024
100% 2% 2% 2% 2% 2% 1%
5% 5% 3% 3% 3% 3% 5% 4%
0% 5% 5% 3%
90% 8% 0% 10% 13%
5% 15% 10%
80% 5% 25% 22%
5% 11%
70% 25% 25%
25% 15% 5% 25% 5%
60% 24%
15%
50% 25%
40%
30% 60% 60% 60%
55% 50% 55%
48%
20% 40%
10%
0%
2017 2018 2019 2020 2021 2022 2023 2024
Source: company. Malaysia Thailand Vietnam China Indonesia Other Countries
Page 24
Competitive Advantage
High Efficiency, High Margin
The biggest COGS contribution comes from MARK has cut its raw material’s contribution
raw material (alumina), followed by salaries & to revenue due to economic of scales &
utilities. efficiency.
MARK’s COGS Components MARK’s COGS Trend (% to Revenue)
Share, 2024 (%)
90%
Other
5% 80%
Electric, Water,
and Gas 70%
Expenses 60%
10% 50%
40%
Raw
Material 30% 61%
Salaries 49%
49% 20%
32% 31% 25% 27% 35% 25% 31%
10% 22% 23%
0%
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Spare parts Raw Material Salaries Utilities Others
4%
Source: Company. Source: Company.
Page 25
Company Overview
Operational Performance
2024 sales volume started to recover as company are preparing to build new factory.
Sales Volume
30.0
Normalized after
24 Covid-19 24
25.0
Aggressively adding Near previous
full year level
Million pieces
20.0 capacity to keep up 18.4 18.6
with high demand 16.2
15.0 13.7
9.9
10.0 8.9 8.88
7.2 7.32 7.6
6.4 6.48
5.0
0.0
2018 2019 2020 2021 2022 2023 2024
Sales Volume Capacity
Source: Company.
Page 26
Company Overview
Company’s Facilities
Dalu I & Dalu II Kimstar
Total Capacity: 1,400,000 pcs/month
Total Employee: 2,000+
Page 27
Company Overview
Subsidiary: PT Berjaya Dynamics Indonesia
Established in 2010, more than 12 years market experience in
Sumatra.
Engaged in Sanitary industrial production utilizing waste
material from handformer production.
Deep & detailed understanding of production distribution
across sumatera & Indonesia.
As PT. Megah Raya Sumatera sales support & distribution
line.
PT Berjaya Dynamics Indonesia (BDI) has a subsidiary that is
engaged in distribution of agriculture, namely PT Agro
Dynamics Indo.
Page 28
Company Overview
Subsidiary: PT Agro Dynamics Indo
Established in 2005, more than 15 years market
experience.
Focus on supporting chemical, pesticides
industrial & equipment.
Indonesia is an agricultural country, which is the
primary industry in this country.
Indonesia’s agriculture GDP has been increasing
every year.
Achieving 20% of Indonesia’s market share.
Page 29
Financial Overview
Balance Sheet
Assets Liabilities Equity
1,079 1,005 400 1000 841 837 858
952 955 310 334
1000 800 741
IDR billion
IDR billion
IDR billion
720 300
600 407
200 162
500 111 95 400
100 200
0 0 0
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
Current Assets Non-current Assets Current Liabilities Non-current Liabilities Equity
Improving balance sheet in 2024 due to recovery but total liabilities rose due to dividends payable,.
Net Debt / Equity Interest Coverage ROAE
1.0 68%
230.0 214.7
60%
0.5 0.3 180.0 41%
0.1 40% 31% 34%
0.0 0.0 130.0
0.0 81.7 88.6 19%
80.0 59.6 20%
-0.05 42.4
-0.5 30.0 0%
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
MARK's debt decreased, leading to a jump in interest coverage and a lower current ratio. However, MARK ‘ ROAE increased to 34% due to increasing net profit.
Page 30
FINANCIAL PERFORMANCE (FY2018-24)
1,400 70%
1194 60%
1,200
51%
47% 49%
45% 49% 50%
1,000 43% 42% 910
823 40%
800
IDR bn
31%
33% 30% 28%
25% 25% 30%
24% 607
600 565 559
20%
442
392
400 362 403
325 10%
264 286
237 243
200 145 156 144 156
0%
82 88
IDR bn - 2018 2019 2020 2021 2022 2023 2024
-10%
Sales 325 362 565 1194 823 559 910
Gross Profit 145 156 237 607 403 264 442
NPATMI 82 88 144 392 243 156 286
Gross Margin 45% 43% 42% 51% 49% 47% 49%
Net Margin 25% 24% 25% 33% 30% 28% 31%
33
Page 31
Environment Social Governance
Commitment to Sustainable Environtment
Page 32
Environment Social Governance
ISO Certificate QAI Certification Pte Ltd
ISO 9001:2015 ISO 14001:2015 ISO 45001:2018
Quality Management Environmental Occupational Health & Safety
System Management System Management System
Page 33
Environment Social Governance
MARK’s Water Usage Recycling Cycle
Water from the production
process go into Waste Water
PAC
Treatment (WWT). The
Flocculan
process includes mixing
wastewater with chemicals
Basin Clarifier (PAC and Flocculants). Next,
Reaction Tank the sludge and water are
separated in the Clarifier and
Filter Press. The water that
has gone through the
purification process is then
Filter Press
re-filtrated and through the
Purification Tub UV process, then tested
Production Process
according to the Wastewater
Quality Standard
05/MENLH/2014 before
being reused in the
Purified Water Tank Ultrafilltration & UV production process.
Page 34
Environment Social Governance
Save Energy Product: Thin light weight former
WITH A BETTER HEAT EVERY 1,000 PIECES CAN SAVE $ CAN REDUCE MACHINE
CONDUCTIVITY, THE 0.1 FOR GAS CONSUMPTION MAINTENANCE
ENERGY NEEDED TO
HEAT THE FORMER AND
ENERGY COST CAN BE
REDUCE
Page 35
Environment Social Governance
MARK’s Solar Panels Project
Page 36
Environment Social Governance
Sanitary Ware Factory
MARK’s reuse of waste materials helps the company achieving zero
waste policy as well as creating additional revenue and profit
Hand former’s Waste processing Sanitary ware
Waste handling
waste materials into sanitary ware finished products
Production
capacity:
1000 units/day
Page 37
11th INTERNATIONAL RUBBER GLOVE
CONFERENCE & EXHIBITION 2024
September 3-5, 2024
Kuala Lumpur Convention Centre, Malaysia
Page 38
Corporate Social Responsibility
MARK PROVIDES SACRIFICIAL ANIMAL OF EID ADHA
MARK PROVIDES BASIC NEEDS OF EID AL-FITR TO ONE OF
TO THE RESIDENTS OF DESA DALU ON JUNE 17, 2024
100 FAMILY RESIDENTS OF DESA DALU ON APRIL 5, 2024
MARK PROVIDES SCHOLARSHIP ASSISTANCE FOR
MARK PROVIDES FINANCIAL AID FOR THE RESIDENTS OF DESA DALU
THE EMPLOYEE’S CHILDREN ON JULY 4, 2024
AS A VICTIM OF FLODD DISASTER ON DESEMBER 12, 2024
42
Page 39
THANK YOU.
PT. MARK DYNAMICS INDONESIA TBK SCAN FOR MORE INFO
HEAD OFFICE DAN FACTORY BRANCH OFFICE
JL. UTAMA DUSUN I, DESA DALU SEPULUH - A JL. PELITA BARAT NO. 2, KAWASAN INDUSTRI MEDAN STAR
TANJUNG MORAWA, DELI SERDANG, SUMATERA UTARA, JL. RAYA MEDAN - LUBUK PAKAM KM. 19.5),
INDONESIA – 20362 TANJUNG MORAWA, DELI SERDANG, SUMATERA UTARA,
INDONESIA – 20362
PHONE : (+62-61) 7940715, (+62-61) 7940487, FAX : (+62-61) 7940747
E-MAIL : MDCPS@NUSA.NET.ID
WEBSITE : WWW.MARKDYNAMICSINDO.COM
Names mentioned 23 people and organisations named in the text · linked when the evidence is strong
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Pf. Mark Dynamics Indonesia Tbk
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PT Mark
p.1 ×2
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Indonesia Tbk
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Overview Mark Dynamics Indonesia Tbk
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PT Dyna Capital
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PT. Megah Raya
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PT Berjaya Dynamics
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PT Agro Dynamics
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INDONESIA STOCK EXCHANGE
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PT Berjaya Dynamics Indonesia Established
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PT. Megah Raya Sumatera
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PT Berjaya Dynamics Indonesia
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PT Agro Dynamics Indo.
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PT Agro Dynamics Indo Established
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Environment Social Governance ISO Certificate QAI Certification Pte Ltd
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