Mark Dynamics (MARK) Will Boost Production and Expand Export Markets

ISSUER - JAKARTA. The issuer of glove mold manufacturer, PT Mark Dynamics Indonesia Tbk (MARK) still maintains its title as the world's largest glove mold manufacturer.

MARK's CEO, Ridwan Goh, said that MARK's current production capacity has reached 2 million molds per month. Ridwan added, that this year MARK is in the process of increasing production capacity, by increasing the number of employees. 

“MARK has been and is increasing the number of production by gradually increasing the number of employees since the end of 2023 by almost 500 people from the current total of 2,000 employees,” he told Kontan, on Tuesday (30/01).

Even though it will increase production capacity, this year MARK does not prepare a large amount of capital expenditure (capex).  “The company does not budget too much capex, but focuses more on optimizing the utilization rate,” he revealed. 

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MARK will also target the export market again to expand its sales area. In addition to exporting to Malaysia, Thailand, and Vietnam, Ridwan said MARK will penetrate sales to China, India, Sri Lanka, and the United States (US).

MARK is optimistic that this year will record an increase in sales along with the recovery of the global glove industry based on research from associations in Malaysia.

“It is estimated that glove sales have passed their lowest point in 2023 and will gradually increase in the second semester of 2024 by 7% per quarter. This is certainly a breath of fresh air for MARK as the increase in glove production will increase glove mold sales,” Ridwan explained.