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Oscar Mitra Sukses Sejahtera (OLIV), Furniture Retail Record Positive Performance

Updated: Sep 29, 2022


Suara.com - PT Oscar Mitra Sukses Sejahtera Tbk officially took the floor on the stock exchange after holding the Company's Annual General Meeting of Shareholders for the 2021 Fiscal Year which took place at the Arjuna Meeting Room, Teraskita Hotel, East Jakarta.


On this occasion, the company held a Public Expose which contained information about the company that explained the history, achievements, performance and strategy of the company that developed and was listed on the Exchange as a Retail Furniture Company with online trading in Indonesia.


Company History and Achievements

Starting from a family furniture retail business that was established in 1984 under the name "New Oscar" located in East Jakarta, it continued to grow in 2000 as a distributor of furniture products with a Showroom of 7600m2. Until 2009 "New Oscar" changed its name to a Limited Liability Company (PT) with the name "PT Oscar Mitra Sukses Sejahtera".


Along with the growing demand and needs as well as the Indonesian market trend for quality and practical furniture as well as economical, in 2015 the Company added a new sub category, namely products made of "plastic" to penetrate and meet these demands and needs.


The development of market patterns that began the development of the market era from the offline market to the online market required the Company to start 2016 by expanding its marketing network by establishing cooperation with various "marketplaces" in Indonesia such as Lazada, Tokopedia, Shopee, Blibli, Bukalapak, JD.ID, Mataharimall and so on.


The company is effectively officially a Public Company from the Financial Services Authority with letter No.S-70/D.04/2022 dated 27 April 2022 to conduct an Initial Public Offering and officially takes the floor on the Indonesia Stock Exchange (IDX) on 17 May 2022 with the code shares “OLIV” and bears the name PT OSCAR MITRA SUKSES SEJAHTERA TBK.


Offer structure of up to 400,000,000 (four hundred million) shares with a value of 21.05% of the total shares after the IPO.

The use of the proceeds obtained from the IPO is used by the Company for working capital of 82.47%; Warehouse Renovation by 4.11%; Addition of Fleet Truck (Own Fleet) by 7.67%; and New Warehouse Lease of 5.75% of the total Net Funds obtained by the Company. Also issued Warrants with a ratio of 1:1 shares.


The company's performance showed an increase and a fundamentally positive trend which was marked by an increase in the company's assets, liabilities and equity which grew steadily in the period of December 31, 2021 and 2020.

This performance is supported by positive performance until the Q2 2022 period, namely as of June 30, 2022, namely after conducting the IPO the company showed a significant and good increase in Assets and Equity.


The company's financial performance also showed a good and stable increase and significantly grew. There was an increase in comprehensive net income of 24% from the period of December 31, 2020 with a total comprehensive net income of Rp 185,103,773.


Meanwhile, for the period of December 31, 2021, it was recorded at Rp. 645,096,186. In Q2 2022, it shows an upward trend which has recorded a profit of Rp 531,100,739 as of June 30, 2022.


The performance of online and offline sales played a major role recorded in Q2 with total sales that have been made resulting in sales of Rp. 25,559,671,159 from January 1, 2022 to June 30, 2022.Suara.com - PT Oscar Mitra Sukses Sejahtera Tbk officially takes the floor on the stock exchange after holding a meeting The Company's Annual General Shareholders for the 2021 Fiscal Year, which took place at the Arjuna Meeting Room, Teraskita Hotel, East Jakarta.


On this occasion, the company held a Public Expose which contained information about the company that explained the history, achievements, performance and strategy of the company that developed and was listed on the Exchange as a Retail Furniture Company with online trading in Indonesia.


Company History and Achievements

Starting from a family furniture retail business that was established in 1984 under the name "New Oscar" located in East Jakarta, it continued to grow in 2000 as a distributor of furniture products with a Showroom of 7600m2. Until 2009 "New Oscar" changed its name to a Limited Liability Company (PT) with the name "PT Oscar Mitra Sukses Sejahtera".


Along with the growing demand and needs as well as the Indonesian market trend for quality and practical furniture as well as economical, in 2015 the Company added a new sub category, namely products made of "plastic" to penetrate and meet these demands and needs.


The development of market patterns that began the development of the market era from the offline market to the online market required the Company to start 2016 by expanding its marketing network by establishing cooperation with various "marketplaces" in Indonesia such as Lazada, Tokopedia, Shopee, Blibli, Bukalapak, JD.ID, Mataharimall and so on.


Official company effectively as a Public Company from the Financial Services Authority with letter No.S-70/D.04/2022 dated 27 April 2022 to conduct an Initial Public Offering and officially take the floor on the Indonesia Stock Exchange (IDX) on May 17, 2022 with the stock code "OLIV" and bears the name PT OSCAR MITRA SUKSES SEJAHTERA TBK.


Offer structure of up to 400,000,000 (four hundred million) shares with a value of 21.05% of the total shares after the IPO.


The use of the proceeds obtained from the IPO is used by the Company for working capital of 82.47%; Warehouse Renovation by 4.11%; Addition of Fleet Truck (Own Fleet) by 7.67%; and New Warehouse Lease of 5.75% of the total Net Funds obtained by the Company. Also issued Warrants with a ratio of 1:1 shares.


The company's performance showed an increase and a fundamentally positive trend which was marked by an increase in the company's Assets, Liabilities and Equity which grew steadily in the period of December 31, 2021 and 2020.

This performance is supported by positive performance until the Q2 2022 period, namely as of June 30, 2022, namely after conducting the IPO the company showed a significant and good increase in the increase in Assets and Equity.


The company's financial performance also showed a good and stable increase and significantly grew. There was an increase in comprehensive net income of 24% from the period of December 31, 2020 with a total comprehensive net income of Rp 185,103,773.


Meanwhile, for the period of December 31, 2021, it was recorded at Rp. 645,096,186. In Q2 2022, it shows an upward trend which has recorded a profit of Rp 531,100,739 as of June 30, 2022.


The performance of online and offline sales played a major role, recorded in Q2 with total sales that have been made resulting in sales of Rp. 25,559,671,159 from January 1, 2022 to June 30, 2022.

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