Indonesian Furniture Manufacturer Chitose Internasional Prepares an IPO
Chitose Internasional, an Indonesian furniture manufacturer intends to release 30 percent of its enlarged capital through an initial public offering (IPO) on the Indonesia Stock Exchange in June 2014. Currently, the company is trying to obtain approval from the Financial Services Authority (OJK) in order to conduct the IPO. President Director of Chitose Internasional Dedie Suherlan said that the proceeds will be used for the construction of a new factory, which will produce wood-based furniture products. This factory should become operational in 2015.
Currently, the Bandung-based (West Java) company produces metal-based furniture as well as wood-based furniture for the low and middle segments. However, due to increased purchasing power of the Indonesian people, the company wants to add wood-based furniture that targets the upper category to its production lines.
Director at Chitose Internasional Timotheus J. Paulus said that the company currently controls a 50 percent market share in Indonesia's furniture industry. Particularly chairs are an important product of the company. Roughly 90 percent of the company's furniture is sold domestically, the remainder is exported to 34 countries including Japan, Australia, Germany and South Korea.
In 2013, the company recorded a 15 percent increase in net profit to IDR 271 billion (USD $23.6 million).
Last Update: 29 Mar 2021
IPOs in 2014 up to 12 May
| Company | P: 29 Mar 2021 | P: 28 Mar 2021 | Gain/Loss | P/E ttm | Yield % | Gain/Loss YTD |
| Bank Panin SyariahPNBS | 83 | 82 | 1.22% | N/A | 0.00% | -4.60% |
| Asuransi Mitra Maparya Tbk.ASMI | 925 | 930 | -0.54% | N/A | 0.00% | -6.57% |
| Bank Ina Perdana Tbk.BINA | 1,560 | 1,550 | 0.65% | N/A | 0.00% | 64.21% |
| Capitol Nusantara Indonesia Tbk.CANI | 186 | 186 | 0.00% | N/A | 0.00% | 22.37% |
| Tunas Alfin Tbk.TALF | 310 | 258 | 20.16% | N/A | 0.00% | 13.97% |
| Bali Towerindo Sentra Tbk.BALI | 700 | 690 | 1.45% | N/A | 0.00% | -6.04% |
| Wijaya Karya BetonWTON | 334 | 344 | -2.91% | N/A | 0.00% | -20.85% |
| Graha Layar PrimaBLTZ | 4,600 | 4,650 | -1.08% | N/A | 0.00% | 53.85% |
| Intermedia Capital Tbk.MDIA | 63 | 66 | -4.55% | N/A | 0.00% | 3.28% |
| Eka Sari Lorena TransportLRNA | 180 | 185 | -2.70% | N/A | 0.00% | 1.69% |
| Combined Total | 8,941 | 8,941 | 0.00% | 30.60% |
Green colour indicates upward movement
Red colour indicates downward movement
P = price; E = earnings; D = dividend; Yield = D/P
"N/A" indicates P/E < 0 (negative earnings)
"-" indicates E,D,P or YTD is not available
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