13 November 2018

MedanBusiness - Medan. President Director of PT Mahkota Group Tbk (MGRO) Usli Sarsi presented testimonials regarding the company's success story that transformed from a family company to a public company (go public).​

The success story was revealed in front of the participants of the socialization of the Go Public Offering Process held by PT Panin Sekuritas Medan Branch in collaboration with the Office of the Financial Services Authority (OJK) Regional 5 Sumbagut at the OJK Office, Friday (9/11). The socialization was attended by DPD member from North Sumatera, Parlindungan Purba, opened by Head of OJK Regional Office 5 Sumbagut, Lukdir Gultom, followed by entrepreneurs who are members of INTI Association of North Sumatera.
 
The socialization also featured resource persons including Rizky (from OJK) who explained the process of initial public offering of shares and Branch Head of PT Panin Sekuritas Medan Darmin.

Usli Sarsi said, he was very grateful that PT Mahkota Group conducted an initial public offering (IPO) by releasing 20% of its shares on the Indonesia Stock Exchange (IDX) on July 12, 2018.

He said, the possibility of PT Mahkota Group would experience a bad thing, namely the acquisition of its profits would plummet if it did not conduct an IPO.

“The possibility of the company's profit is difficult to increase and even decline, especially associated with the current condition of the development of the palm oil business,” he said.

Answering questions about the company's profit prognosis until the close of 2018, Usli Sarsi said it had the opportunity to penetrate IDR 60 billion. 

 In connection with the encouraging performance made by the company, Usli Sarsi said, his party had designed development (expansion), especially entering the downstream of the palm oil industry to support the government's invitation to produce fuel oil mixed with 20% biodiesel (B20).

Feeling the joyful experience of PT Mahkota Group after reincarnating into a go public, Usli Sarsi invited socialization participants to immediately turn into a public company.

He mentioned, a series of beneficial things obtained if you become a public company, namely sustainability (company sustainability), transparency (openness) in company management, increased company popularity and others.

Citing data from foreign literature he read that family companies are rarely able to exist for several generations. This is because the company is difficult to grow in the third generation and often even goes bankrupt due to conflicts involving fellow family members who own the company.

Answering PT Mabar Feed executives' questions about the difficult things faced by family companies to transform into going public, Usli Sarsi said one of the difficulties was equalizing views.

“To get around this, we invite experts to explain the benefits and advantages of a public company,” suggested Usli Sarsi.

On that occasion, Usli Sarsi revealed, the share price of PT Mahkota Group Tbk, which was listed on the Indonesia Stock Exchange on July 12, 2018, increased sharply from IDR 225 per share during the IPO to IDR 550 per share on November 9, 2018, or an increase of around 144%.

Usli said the significant increase in the company's share price was very encouraging for him as a new entity on the IDX which also benefited investors. (sarsin siregar)

Source : http://www.medanbisnisdaily.com/news/read/2018/11/13/363682/go_public_sangat_menguntungkan_bagi_perusahaan