- Business
- PT Panca Budi Idaman Tbk manufactures and distributes plastic packaging products and resins in Indonesia. The company produces polyethylene and polypropylene bags, high density polyethylene resins, heavy-duty sacks; packaging items including food wrapping papers, cake boxes, plastic ropes, rubber bands, straws, recycled resins, shrink packaging, woven bags, raffia strings, rice papers, food packs, plastic glasses; and operates under brands such as Pluit, Tomat, Bangkuang, Jeruk, Cabe, 222, Wayang, Gapura, Sparta, Liberty, Dayana, and PB. It serves retailers, semi-wholesalers, and wholesalers primarily in the domestic market with exports to the United Kingdom, Germany, the Netherlands, Spain, United Arab Emirates, Nigeria, United States, and Taiwan; maintains 12 factories and six warehouses across Indonesia and Malaysia with total production capacity of 155,000 to 157,000 tons annually; and manages operations through Plastic Packaging, Plastic Resins, and Other segments. Founded in 1979 and headquartered in Tangerang, Banten, Indonesia, PT Panca Budi Idaman Tbk functions as a subsidiary of PT Alphen Internasional Corporindo. Recent developments include completion and operational start of a new factory in Central Java to enhance production capacity and reduce costs via lower regional wages; plans for 2025 to expand distribution reach with new warehouses in eastern Indonesia and outside Java, allocate capital expenditures of Rp 40-60 billion primarily for land and building expansions alongside machine maintenance, elevate product quality through ISO standards and marketing via social media and mass media, and diversify offerings with additional items like food packs and cake boxes; alongside a 1:4 stock split approved in May 2024 and net profit growth of 29.57% to Rp 487.17 billion in 2024 driven by higher domestic sales and lower cost of goods sold.