Press Release – The Signing of Cooperation Agreement between Mustika Ratu (MRAT) and Indofarma (INAF)

Jakarta – PT. Mustika Ratu Tbk (MRAT) cooperates with PT. Indofarma Tbk (INAF) to produce health products with quality natural ingredients, especially during the current COVID-19 pandemic.

This cooperation was conducted by signing a Memorandum of Understanding (MoU) between PT. Mustika Ratu Tbk (MRAT) and PT. Indofarma Tbk (MART) on Tuesday, July 21, 2020, in Jakarta. The signing was carried out by the President Director of PT. Mustika Ratu Tbk (MRAT), Bingar Egidius Situmorang, and President Director of PT. Indofarma Tbk, Arief Pramuhanto, witnessed by Puteri Indonesia 2020, Rr. Ayu Maulida Putri.

PT Mustika Ratu Tbk (MRAT), founded by the grandson of the King of Surakarta Sunanate, Paku Buwono X, DR. BRA Mooryati Soedibyo, is a well-known cosmetic and herbal medicine manufacturer company in Indonesia. The company which wasfirst established from a garage in the house became a publicly listed company (go public) in 1995 by making an initial public offering and listing its shares on the Indonesia Stock Exchange.

With more than 45 years of experience and continuous innovation, Mustika Ratu can compete and continue to fulfill consumers’ demand,both domestic and abroad. This success is certainly supported by Mustika Ratu products that have been proven empirically and also clinically very beneficial for beauty and health. Besides, the Mustika Ratu brand has succeeded in receiving the Top Brand Awards for years and Indonesia Best Brand, which shows a strong potential for Mustika Ratu to reach the domestic and foreign markets.

Meanwhile, PT Indofarma Tbk is known as a company engaged in the field of industry and marketing of pharmaceutical products, extracts & natural medicine, and diagnostic & medical equipment. Indofarma also has herbal production facilities that are large in capacity and modern. With the ability to process natural ingredients on a large scale, Indofarma is ready to work with its partners through a toll in manufacturing.

President Director of PT Mustika Ratu Tbk (MRAT), Bingar Egidius Situmorang, explained,the need for health products still depends on imported products, even though Indonesia has abundant natural resources. Through the cooperation between Mustika Ratu and Indofarma, it is expected to be able to assist the government in the supply of health products made from Indonesian natural ingredients which are very beneficial for the health of the community and contribute to Indonesia. Moreover, with this cooperation, Mustika Ratu can obtain greater and higher quality raw materials. Large production volume, more efficient production costs. Indofarma can also research other herbs for the cosmetic product needs of Mustika Ratu. This will be good cooperation for both parties,” said Bingar.

Furthermore, President Director of PT Indofarma Tbk (INAF), Arief Pramuhanto, added,“Indofarma has fairly complete and high-quality production facilities. Indofarma will later develop herbal products and provide extracts, so that it is expected to be able to complete the Indofarma distribution channel later. Indofarma hopes that this cooperation will continue in the future,” Arief said.

The goals stated of the signing of this Memorandum of Understanding is to explore the plan of cooperation to prepare a business feasibility study in the form of:

  • Cooperation on marketing and distribution of each party’s existing product for the omnichannel.
  • Cooperation in developing a portfolio of Standardized Herbal Medicine and Phytopharmaca products.
  • Cooperation on toll manufacturing, both partial and all packages, ranging from registration, raw materials, production, to packaging.
  • Developing a portfolio of new products and existing products, joint operations, product ownership, rejuvenating designs and products.
  • Indofarma provides extract products for Mustika Ratu as required with guaranteed quality.
Share on linkedin
Share on facebook
Share on twitter
Share on email
Share on print

Subscribe to Our Newsletter