JAKARTA, NETRALNEWS.COM - Listed textile manufacturer PT Sejahtera Bintang Abadi Textile Tbk (IDX:SBAT) has officially signed an investment agreement with United States (US) based global alternative investment group LDA Capital. The investment agreement is signed today on March 17, 2021.
As the first textile company in Indonesia to use textile waste as the main raw material for making yarn, SBAT has successfully exported its products to 25 countries around the world. The company was also recently listed on the Indonesian Stock Exchange (IDX) on April 2020.
PT Sejahtera Bintang Abadi Textile Tbk and LDA Capital reached a commitment agreement that is equivalent to IDR125 billion.
This investment is very important for SBAT, especially when they continue to expand their business to reach the European market.
"Since 2019, our main product, thread for gloves, has successfully penetrated the European market. Every year, we get requests from new countries in Europe, such as Russia, Estonia and Bosnia & Herzegovina. Unfortunately, we have to refuse several requests due to limited production capacity," said Jefri Junaedi, President Director of PT Sejahtera Bintang Abadi Textile Tbk on Wednesday (03/17/2021).
LDA Capital has been known to devote their career to international cross-border transactions.
With the experience of more than 200 transactions on the stock markets and the private sector in 42 countries, the aggregate transaction value of LDA Capital surpasses US$10 billion.
Seeing this track record, SBAT believes that this collaboration will bear fruit and become a new breakthrough for the company.
"The collaboration with LDA Capital will be a new breakthrough for PT Sejahtera Bintang Abadi Textile Tbk in order to add more production capacity and increase our market share in developed countries such as Europe," Jefri Junaedi added.