Archilles (Multistrada Arah Sarana, Tbk)
A. company profile
PT Multistrada Arah Sarana Tbk (MASA) was established on June 20th, 1988 under the name of PT Oroban Perkasa. It is engaged in manufacturing Passenger Car Radial (PCR) tires and Motor Cycle (MC) tires for export and domestic market. MASA has markets its product with brand name of “Corsa”, “Strada” and “Achilles”.
What happend to MASA.. * Global Crisis not to Affect MASA’s Sales (2009)
In 9M09, MASA successfully raised its sales 19.2% YoY to Rp 1.2 tn. Its car tire production volume increased from 3.24 mn units in 9M08 to 3.51 mn units in 9M09, growing 8.29% YoY. In addition, MASA’s production volume of motorcycle tires boosted from 0.61 mn unit to 1.03 mn units in the same period, reflecting a 67.87%. As comparison, MASA suffered foreign exchange loss of Rp 118.5 bn in 2008, cutting its net profit margin to 0.22% as an effect of global financial crisis. * Continuing Expansion due to High Demand (2009)
MASA continues to increase its car tire production capacity from 12,827 to 15,000 units per day during 2008-2009. In the same period, MASA also extended its motorcycle tire production capacity 205% YoY from 2,394 to 7,300 units per day.

* Superb Performance Amid The Slower Growth of Domestic Tires Industry (2011)
Amid the slower growth of Indonesia tires industry in 2011, MASA booked a significant revenue growth. In 2011, MASA’s revenue grew by 42.6% YoY to Rp 2.9 trillion from Rp 2.0 trillion in previous year.
The sales volume of PCR tires during this period reached 6.6 million tires, while the MC tires sold over 3.1 million units, with the average utilization rate reached 83%.

* Export Sales is Growing amid the Global Crisis (2011)
The global crisis is less affected MASA export sales, as it grew significantly by 46.4% YoY in 2011 and 20.2% YoY in 1Q2012.
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