To Increase Exports, Sido Muncul Opens Offices in the Philippines and Nigeria

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Photo: jateng.tribunnews.com

JAKARTA, presidentpost.com – exported Sido Muncul products of Tolak Angin and Kuku Bima was below 1% in 2016 of the total sales, then increased twice in 2017. For this year, the company targets to increase the exports to 5 percent.

Venancia said the establishment of Sido Muncul marketing office in the Philippines has been approved and is expected to start operating in April 2018.

Meanwhile in Nigeria, the marketing office is still under the registration process. Even so the company is still exporting to the country through its partner importers there.

The marketing office of Sido Muncul in Nigeria will be operated under the company called Muncul Nigeria Limited. The capital needed to establish the company amounted to 10 million Naira or equivalent to Rp370.27 million.

The capital is transformed into 10 million shares valued at 1 Naira per share. The company owns 99% of the shares, while the rest is owned by Maria Reviani. (DTK/TPP)