PT Mustika Pinasthika Mitra Tbk (MPMX, Rp970), owned by Saratoga Capital Group company, through its subsidiary, Mitra Pinasthika Mustika Auto (MPM Auto) will distribute Nissan car.
The plan was based on cooperation between dealer sales and service agreement with PT Nissan Motor Distributor Indonesia (NMDI) on August 23. The agreement will make MPM Auto as one of the official Nissan dealer.
MPM Auto will support Nissan in retail sales and the needs of dealership network to boost their market share in the near future, along with market support for the secondary principal from Japan.
PT Indomobil Sukses Internasional Tbk (IMAS, Rp4.925, BUY, TP RpRp6.000) will also have the advantage, because of the additional independent dealers will help launch Datsun LCGC.
Through IMAS, Nissan only has 90 dealers, under Toyota which has 240 dealers (83 PT Astra International Tbk / ASII dealers and 149 independent dealers), while Daihatsu 200 dealer (96 ASII dealers and 100 independent dealers). IMAS will also earn additional contribution of revenue because it has a 25% NMDI stake as a wholesale seller.
On the other hand, MPMX also being set Rp 150 billion for buyback. Issuer has delivered a notice to the stock exchange and capital market authorities with a maximum purchase price of Rp 1.150.
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