PT Sejahtera Bintang Abadi Textile Tbk (SBAT) signed an investment agreement with a global investment group from the United States, LDA Capital, on March 17.,

LDA is committed to disburse an investment of up to Rp125 billion. Sejahtera Bintang Abadi is the first textile company in Indonesia to use textile waste as the main raw material for making yarn.

The company has exported its products to 25 countries around the world. SBAT shares will initial list on the Indonesian stock exchange in April 2020. Meanwhile, LDA Capital has been known for devoting its careers to international cross-border transactions.

With the experience of more than 200 transactions on the stock market and the private sector in 42 countries, the aggregate transaction value of LDA Capital reaches more than US$10 billion.

Director of Sejahtera Bintang Abadi Textile, Jefri Junaedi said, Sejahtera Bintang Abadi Textile with LDA Capital has reached a commitment agreement equivalent to Rp125 billion. The company very much needs this investment to develop its business and market to Europe.

"Since 2019, our main product, thread for gloves has successfully penetrated the European market. Every year, we get requests from new countries in Europe, such as Russia, Estonia, and Bosnia & Herzegovina, and unfortunately, we have to reject several requests. This is due to the current limited production capacity, "he said in Jakarta, on Wednesday (17/3).

Cooperation with LDA Capital will be a breakthrough for the company in expansion, especially after seeing LDA Capital's track record in investing in the past few years.

"This collaboration with LDA Capital will be a new breakthrough for Sejahtera Bintang Abadi Textile in order to add more production capacity and increase market share to developed countries, such as Europe," said Jefri.