PT Alkindo Naratama Tbk (the Company) was established based on the Deed of Notary Dr. Kikit Wirianti Sugata, S.H., No. 74 dated January 31, 1989. The deed of establishment was ratified by the Minister of Justice of the Republic of Indonesia with Decree No. C2-2222 HT.01.01.Th.1990 dated April 14, 1990 and announced in the State Gazette of the Republic of Indonesia No. 75 dated September 18, 1990, Supplement No. 3449.

The Company’s Articles of Association have been amended several times, the latest based on the deed of notary Nunuy Rahmayati, S.H., substitute for Leolin Jayayanti, S.H., No. 5 dated March 15, 2011 in relation to the increase of authorized, issued, and paid-up capital, and the change of the Company’s status into a public company. The amendment to the Articles of Association was approved by the Minister of Law and Human Rights of the Republic of Indonesia No. AHU-14482.AH.01.02.Year 2011 dated March 22, 2011.

PT Alkindo Naratama Tbk was founded in 1989 by Mr. Lili, Mr. Herwanto, and their business partners. Initially, the Company focused on producing bobbins (papertubes) for winding DTY (Draw Textured Yarn) and POY (Partially Oriented Yarn), used in the textile industry. These products were made from recycled waste paper core board. At that time, Bandung—the Company’s founding location—was the center of the textile industry in Indonesia. As textile technology developed, the demand for papertubes with more diverse specifications increased, including thickness, color, and resistance to rotation speed.

Seeing the opportunity to expand its business, in 2007 the Company broadened its product lines by producing honeycomb, papercore, and edge protector, including product variants combining honeycomb and edge protector. Initially, production was carried out in one factory located in the Cimareme Industrial Area, on 1.96 hectares of land with 1.67 hectares of buildings. However, due to limited land for new product development, in 2010 the Company built its second factory nearby, on 4.31 hectares of land with 1.63 hectares of buildings. This factory was dedicated to producing honeycomb, papercore, edge protector, and their derivative products.

A significant milestone was achieved on July 12, 2011, when the Company officially listed its shares on the Indonesia Stock Exchange (IDX), becoming a public company with part of its shares owned by the public. Since then, Alkindo has continued to expand through strategic acquisitions to strengthen its business:

• 2011 : Acquired 51% shares of PT Swisstex Naratama Indonesia (SNI), a company engaged in textile chemicals marketing.
• 2013 : Acquired 51% shares of PT Alfa Polimer Indonesia, a company engaged in polymer manufacturing and marketing.
• 2019 : Through Limited Public Offering I, the Company acquired 99% shares of PT Eco Paper Indonesia, a company engaged in paper manufacturing and marketing.
• 2021 : Through Limited Public Offering II, the Company increased its shareholding in PT Swisstex Naratama Indonesia and PT Alfa Polimer Indonesia to 99% each.
• 2023 : The Company injected additional capital into PT Eco Paper Indonesia amounting to Rp49.5 billion, bringing the total paid-up capital to Rp245.025 billion.

A significant milestone was achieved on July 12, 2011, when the Company officially listed its shares on the Indonesia Stock Exchange (IDX), becoming a public company with part of its shares owned by the public. Since then, Alkindo has continued to expand through strategic acquisitions to strengthen its business: