PT Asia Sejahtera Mina Tbk, trading as AGAR on the Indonesia Stock Exchange (IDX), reveals its promising ventures in the seaweed industry. AGAR supplies three seaweed varieties—Eucheuma Cottoni, Echeuma Spinosium, and Gracilaria—to both domestic and international markets, predominantly across Asia, Europe, and South America, including within Indonesia. Indra Widyadharma, the CEO, highlights AGAR's partnership with local seaweed farmers in Sulawesi, West Nusa Tenggara, and East Nusa Tenggara to meet the growing demand. The company's warehouses, categorized as B-class, are strategically located in Surabaya, Maros, and Makassar, ensuring efficient distribution. Recognizing Indonesia's position as the world's second-largest seaweed producer after China, AGAR aims for further expansion. Indra elucidates the meticulous process involved, from sourcing seaweed from partner farmers to stringent quality assessments for moisture content and impurities.
Once quality checks are completed, the seaweed is dried until its moisture content reaches 38%, after which it is packaged and exported directly from nearby ports. AGAR exports approximately 22,000 tons of seaweed annually, adhering to high standards certified by the Ministry of Marine Affairs and Fisheries and the Ministry of Trade of the Republic of Indonesia. These certifications include HACCP, Phytosanitary, Processing Feasibility Standards (SKP), and Warehouse Receipt Systems. Established in 2008, PT Asia Sejahtera Mina Tbk made its IPO debut in 2019, listing on the IDX under the AGAR ticker symbol. The IPO comprised 250 million new shares priced at IDR 110 per share, fully subscribed, resulting in fresh funds of IDR 27.5 billion. However, AGAR's current share price stands at IDR 100. IDX has designated AGAR shares with a special notation 'X', signifying equity securities under special monitoring due to their unique nature. AGAR holds the distinction of being the sole seaweed supplier listed on the IDX, solidifying its position in the industry.
Source: https://amp.kontan.co.id/news/asia-sejahtera-mina-agar-ekspor-hingga-22000-ton-rumput-laut-per-tahun
