Jakarta – To develop new products and expand marketing areas, PT Mustika Ratu Tbk (MRAT) has established cooperation with SUGI Holdings, a leading company listed on the Japan Stock Exchange with a subsidiary called SUGI Pharmacy.

SUGI Pharmacy is a company engaged in the sale of medicines, health foods, cosmetics, and daily necessities, and has operated more than 1700 stores in Japan.

MRAT, as a publicly listed company on the Indonesia Stock Exchange (IDX), is known as a manufacturer of beauty, herbal, and health products made from natural Indonesian plant ingredients in collaboration with SUGI Holdings, to bring proven Japanese technological innovations and create synergies with local products in Indonesia.

The products produced from this collaboration will obtain halal certification and be marketed globally, especially in countries that have been MRAT’s export destinations.

President Director of PT Mustika Ratu Tbk (MRAT) Bingar Egidius Situmorang said,” According to Statista in 2024 Indonesia’s cosmetics market revenue amounted to US$1.94 billion and is projected to grow annually by 5.35% (CAGR 2024-2028).

Indonesia’s booming cosmetics market is driven by an increasing middle class and demand for halal beauty products. This is an opportunity as well as a challenge for the business world, but we at MRAT are confident that the benefits and naturalness of the raw materials in our products will appeal to consumers both domestically and globally,“ he added.

With a wide network of customers around the world, Mustika Ratu products have been successfully marketed in various parts of the world, including Asia, the Middle East, Africa, Europe, and North America, including Japan.

In addition, MRAT also has a manufacturing plant that is run strictly according to international certification standards and is also halal.

Jodi Andrea Suryokusumo, Finance Director of PT Mustika Ratu Tbk (MRAT) is also optimistic about this cooperation.

“MRAT has long established cooperation with various parties, especially foreign companies that want to collaborate with us. Proven by the distribution of our products that have penetrated up to 43 destination countries. This indicates that the potential and quality of the Indonesian local products that Mustika Ratu produces are recognized by the world,” Jodi said.

Through this collaboration, SUGI Holdings and MRAT are committed to creating a new market in the beauty and healthcare industry with halal products developed using cutting-edge technology from SUGI Holdings that have obtained halal certification.

The two companies also plan to expand sales globally by leveraging the established distribution network.

The collaboration between MRAT and SUGI Holdings is expected to create significant added value, not only in the economic aspect but also in creating positive social values around the world, especially in the Asian region.**