Luxury furniture maker and interior appliances PT Panca Anugrah Wisesa Tbk is looking forward to create a new business in wall paneling in 2022. The company also focuses on expanding its showrooms in Surabaya, Pantai Indah Kapuk (PIK) in North Jakarta and another location which will be decided later.
Panca Anugrah Director Andry Mulyono said: “We have a partnership with a company to create a new wall paneling business line.” He did not elaborate further on the new partner company.
The new business line is focusing on wallpapers for housing and buildings as its main market segment.
Mulyono said the company’s capital expenditure (Capex) for 2022 is between IDR5 billion and IDR8 billion and would be used to expand its showrooms.
“In 2022, we have allocated budget for the opening of showrooms. The budget depends on the size of the showroom area but it will be between IDR5 billion and IDR 8 billion for renovations, interiors, constructions and displays,” Mulyono said on July 1, 2022.
Panca Anugrah targets its revenue to reach IDR115 billion in 2022, an increase from the previous year of 2021 of IDR109 billion.
Surja Rahardja founded the company in 1990, focusing mostly on importing marble and granite to supply projects for both residential and high-rise buildings. The company has a showroom at the Jakarta Design Center in Central Jakarta to showcase its marble and granite collections.
Since 2012, the company’s business line, called the Magran Living, has grown rapidly, offering high-end furniture and appliances for kitchen, bathroom and wardrobe.
