PT Chemstar Indonesia Tbk (CHEM) said that it will take external threats seriously related to inflation and exchange rate threats. Because, it can also affect the company's business performance. "Inflation must be taken seriously, this is experienced by the entire business world and currently the business world is experiencing difficulties," said CHEM President Director Kwee Sutrimo during a press conference at the Grand Sheraton Jakarta, Friday (8/7/2022). Kwee explained, the company that was founded in 2004 has gone through various financial crises. Thus, his party will anticipate external threats through experience and material contracts that are believed to be able to maintain the company's business continuity.

Kwee continued, in accordance with the financial performance in the prospectus to the Indonesia Stock Exchange (IDX), regarding the company's growth and management's ability to manage, his party is optimistic that it can face future inflation.

Kwee added that inflation will have an impact on the increase in raw materials. However, there is some increase in raw materials that will be charged to the selling price.

To note, CHEM made its debut on the Indonesia Stock Exchange (IDX) today, Friday (8/7/2022). In its initial share trading, CHEM's shares shot up to the highest level of Rp 190 per share, before finally closing up 3.33% to Rp 155 per share.

The Company offered 500 million new shares, which were ordinary shares on behalf of with a nominal value of Rp. 25 per share, or 29.41% of the issued and fully paid capital. During the public offering period, CHEM is set at an IPO price of Rp 150 per share.

The total value of the Public Offering is Rp 75 billion which will be used for the purchase of land and buildings as well as the Company's working capital. Based on a written statement, Friday (8/7/2022), CHEM's IPO received an excess request or oversubscribed up to 46.6X of the pooling portion.

CHEM, which is a textile industry chemical producer, in 2021 was able to make an operating income of Rp 89.62 billion, an increase of 13% when compared to sales in 2020 of Rp 79.33 billion.

With this achievement, the Company also managed to record a net profit in 2021 which rose 192% on an annual basis compared to 2020 which only grew 14%.

CHEM has always been a subscriber to well-known global brand manufacturers such as Adidas, Nike, Uniqlo to Mark and Spencer. CHEM is also a distributor for Global suppliers, leading chemical companies that have existed for more than 150 years in the textile industry such as multinational companies, Tanatex Chemicals Holland and Transfar International China.