Bandung, March 16, 2023 – PT Hartadinata Abadi Tbk (HRTA), an integrated gold jewelry manufacturer in Indonesia, has entered into an exclusive collaboration to export gold jewelry to India with Kundan Care Product LTD (Kundan). Kundan, established on December 1, 2004, is the largest manufacturer, refinery, and exporter of gold, silver, and energy products in India. Kundan has received certification from the Indian Government as a "Four Star Export House," recognizing its active contribution to India's international trade.

The successful export initiative by the company is a result of full support from Himbara (Association of State-Owned Banks), with PT Bank Negara Indonesia (Persero) Tbk (BBNI) serving as the Mandated Lead Arranger & Bookrunner (MLAB) for a syndicated loan of Rp2.4 trillion granted to HRTA on December 27, 2022. Sandra Sunanto, the CEO of HRTA, explained that the syndicated loan marked a significant milestone in enhancing HRTA's corporate image, as it has now gained trust to be one of the international gold jewelry exporters.

With these strategic achievements, HRTA has strengthened its position as the most integrated gold jewelry and gold bar company, spanning from midstream to downstream industries in Indonesia. "HRTA is ready to partner with the Indonesian Government in advancing the downstream program, particularly in the Indonesian gold industry," emphasized Sandra. Downstream processing is a key factor in generating higher added value for gold products, ultimately contributing positively to Indonesia's foreign exchange reserves. The export of gold jewelry and bars has become Indonesia's leading commodity supporting non-oil and gas exports. Sandra believes that HRTA can actively contribute to the nation and become a source of pride in the Indonesian gold industry.

Sandra is optimistic that the export activities will further boost HRTA's business growth in 2023. HRTA aims to achieve additional sales of 400kg to 500kg of gold per month through the export of 91.6%-pure gold jewelry to Kundan, starting from March 2023. The commercial value of the gold jewelry export transactions is estimated to contribute between USD 25 million and USD 31 million per month to the company's consolidated revenue. As of mid-March 2023, HRTA has recorded gold jewelry export sales of USD 19 million.

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About PT Hartadinata Abadi Tbk (HRTA)
As a trusted gold jewelry manufacturer and provider with over 34 years of experience, HRTA is a major player in the Indonesian gold jewelry industry. HRTA operates an integrated business model, including four manufacturing plants, a precious metal refinery, wholesale and retail sales, as well as an e-commerce platform and the emaskita.id app. This integrated business model ensures a secure market presence. Since its establishment, HRTA has built relationships with over 900 gold shops across Indonesia. 

For more information, visit www.hartadinata.co.id or follow the official Instagram account @hartadinata.abadi.

For further information, please contact: 
Ong Deny 
Corporate Secretary 
PT Hartadinata Abadi Tbk 
Phone: (022) 5402326 / 5403002 Email: [email protected]/[email protected]
www.hartadinataabadi.co.id

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