Multi Makmur (PIPA) Embarks on Business Transformation and Expansion

Strategic Shift to Energy Sector

PT Multi Makmur Lemindo Tbk (PIPA), listed on the Indonesia Stock Exchange, is undergoing a significant business transformation following the entry of PT Morris Capital Indonesia as its new controlling shareholder. The company is transitioning from its current focus on PVC material manufacturing to becoming an investment holding company with a primary concentration in the energy sector.

Key Developments in Business Transformation

1. New Controlling Shareholder: PT Morris Capital Indonesia (MCI) became PIPA's controlling shareholder in October 2025.
2. Mandatory Tender Offer (MTO): MCI is currently processing an MTO, expected to be completed by early 2026.
3. Right Issue Plans: The company is planning to conduct a right issue in Q3 2026 as part of its corporate actions.
4. Business Expansion: PIPA is expanding into the oil and gas (migas) sector as part of its new business strategy.

Management's Perspective

Director Imanuel Kevin Mayola stated that the company is currently in a strategic transition phase. He expressed optimism that the series of corporate actions will become a positive catalyst for enhancing the company's value in the medium to long term.

Implications and Future Outlook

The business transformation and expansion into the energy sector represent a significant shift in PIPA's business model. The planned right issue in Q3 2026 is expected to support the company's growth plans in the oil and gas sector. This development positions PIPA for potential long-term growth in a strategic industry.