Consistently Managing Natural Sustainability, PT Multi Hanna Kreasindo Tbk “MHKI” Officially Listed on the IDX Development Board Ahead of Earth Day
- IDX Building, South Jakarta
A company in the field of managing hazardous and toxic (B3) and non-B3 waste, PT Multi Hanna Kreasindo Tbk (MHKI) today officially carried out its initial share listing on the Development Board of the PT Indonesia Stock Exchange (BEI). The 22nd issuer in 2024 is also a pioneer waste management company listed on the Stock Exchange and the MHKI share listing ceremony also coincides with the momentum leading up to Earth Day commemoration on April 22, 2024.
Shahabuddin, President Director of PT Multi Hanna Kreasindo Tbk explained “MHKI’s role in the national capital market industry through share listing on the IDX is part of the Company’s efforts to provide solutions in preserving the earth. “As a company founded nineteen years ago, MHKI has shown consistency and commitment to finding solutions for several companies in overcoming the problem of production process waste.”
“Today’s listing of MHKI shares on the IDX is an important milestone for us to protect the earth from waste pollution consistently and it is hoped that this decision to go public will be able to encourage the development and growth of the Company’s business in the future.”
During the initial public offering (IPO), the Company released 750 million shares to the public, or the equivalent of 20% of the Company’s issued and fully paid-up capital after the IPO. The public offering price is nominally IDR 160 per share so through this corporate action MHKI can raise funds reaching IDR 120 billion. MHKI management appointed PT NH Korindo Sekuritas Indonesia as the implementing guarantor for the Securities Emission.
“During the public offering period on April 2-4 2024, PT Multi Hanna Kresindo Tbk shares received a positive response from investors, and all the shares offered were well absorbed. “The company is optimistic that MHKI will become one of the shares of choice for investors, especially for shares in the B3 and non-B3 waste management business sector,” explained Shahabuddin – President Director.
During the first nine months of 2023, MHKI posted revenue of IDR 108 billion or grew 13.3% compared to the same period in 2022 of IDR 95.32 billion. Meanwhile, net profit for the period ending 30 September 2023 was recorded at IDR 23.25 billion or 5.56% lower compared to the same period in 2022 of IDR 24.62 billion. Thus, MHKI’s net profit margin (NPM) in Quarter III-2023 is in the high category, namely 21.53%.
With a public offering price of IDR 160 per share and earnings per share (EPS) in the third quarter of 2023 of IDR 7.75 per share, MHKI’s valuation is currently quite cheap. So the share price of IDR 160 is considered reasonable, especially now that the Company also has small debt, with the debt to equity ratio (DER) still low. So far the compounded annual growth rate (CAGR) has also been consistently recorded as growing.
As of September 30, 2023, MHKI’s equity reached IDR 302.46 billion, while total liabilities were recorded at IDR 24.34 billion. So total assets as of September 30 2023 reached IDR 326.8 billion or an increase of 92.02% compared to December 31 2022 which was IDR 170.19 billion. MHKI’s assets are consistently experiencing growth, because at the end of December 2021, it was still recorded at IDR 154.43 billion and at the end of December 2020 it was valued at IDR 132.24 billion.
Shahabuddin, President Director said “All proceeds from the IPO will strengthen the Company’s business performance which will be used for the Company’s capital expenditure (capex) amounting to 97.9%. In detail, 60.32% is to meet capex needs related to plans to build a factory in Lamongan, East Java, while 39.68% is for capex at the MHKI Head Office.
Meanwhile, the remaining 2.1% of the IPO proceeds will be used as MHKI’s working capital, namely in the form of additional supplies of raw materials and operational costs. This requirement is needed by PT Multi Hanna Kreasindo Tbk to support the increase in sales of the Company’s products.
A glance at PT Multi Hanna Kreasindo Tbk :
PT Multi Hanna Kreasindo Tbk, founded in 2004, is a company engaged in industrial waste processing and has obtained official permits from the Ministry of the Environment. Our licensing covers transportation (transporters), collector, processor, and utilization of B3 and non-B3 waste. After obtaining an AMDAL on February 21 2007 and the issuance of a Decree from the Minister of Environment regarding “Environmental Feasibility of Metal Waste Utilization Activities (B3 and Non-B3) and Collection of used Lubricant Oil and Non-B3 Waste”, PT Multi Hanna Kreasindo Tbk developed its business into an industry transporters, collectors, processors and users are recorded in Decree No.S.371/PSLB3/VPLB3/PLB.3/8/2021 of 2021 and the transport recommendations underlie the activities of PT Multi Hanna Kreasindo Tbk.
This activity is in line with the efforts of the Central Government, especially the Ministry of Environment and the Bekasi City Government, in overcoming the negative impacts of waste on the environment caused by Hazardous and Toxic Materials (B3) through the implementation of 3R, namely: Reuse, Recycling, Recovery. PT Multi Hanna Kreasindo Tbk is equipped with industrial waste processing facilities with its own internal Waste Water Treatment Plant (WWTP) to maintain wastewater from the process so that it is always below the environmental quality standard threshold.
The smelting building is equipped with a Dust Collector and Scrubber to maintain air quality, and regular checks are also carried out for noise levels. PT Multi Hanna Kreasindo Tbk is also equipped with Incinerator machine facilities that can be used to process medical & infectious waste originating from hospitals, clinics, and other health service facilities. We have also collaborated in waste management with leading oil and gas companies in Indonesia including PT Pertamina, PT PLN, and the Tanjung Jati Jepara Steam Power Plant. PT Multi Hanna Kreasindo Tbk has a collaborative relationship with a third party (co-processing) which has permission from the Ministry of Environment of the Republic of Indonesia as part of the Total Solution – Zero Pollutant.
For further information, please contact :
Alwi – Corporate Secretary PT Multi Hanna Kreasindo Tbk
Telp : (021) 8250196
Fax : (021) 82601939
Email : corporate.secretary@multihanna.co.id
Website : https://multihanna.co.id
Instagram : @multihannaofficial
Linkedin : PT Multi Hanna Kreasindo Tbk
Facebook : PT Multi Hanna Kreasindo Tbk