Even though Rupiah is weakening, Mark Dynamics Indonesia remains optimistic in meeting targets

INDUSTRY.co.id - Jakarta - Although the rupiah exchange rate against the US dollar has weakened, PT Mark Dynamics Indonesia remains optimistic that it can meet the performance targets set.

The President Director of PT Mark Dynamics Indonesia, Ridwan said, the company's performance remained on the established growth path, although the rupiah weakened quite sharply in recent months.

"Even though most of the cost components are denominated in US dollars, our sales are mostly for export markets, so we can even get blessings from it," Ridwan said, Thursday (09/06/2018).

He continued, currently, the company has a production cost structure with high import components in the range of 50% of the total cost. For raw materials, the movement of the rupiah exchange rate is relatively well maintained because there is a supply contract for a certain period.

However, with sales and composition of exports of more than 90%, the company will benefit from the difference in exchange rates received.

"The company experienced natural hedging over the difference in exchange rates, and made us able to maintain a low cost structure. For that, we can also ensure that the 2018 target will still be achieved according to plan," he explained.

Mark Dynamics Indonesia, as the main producer of rubber glove molds, has projected revenue for this year to be around Rp310.5 billion and net profit of Rp72 billion.

In the first semester of 2018, the company's revenue reached Rp155.45 billion or 50.1% higher than the planned target. Meanwhile, the profit achievement was around IDR 36.54 billion or 50.1% of the projection.