MUTU International: Pioneering Environmental Sustainability through IPO Expansion

MUTU International: Pioneering Environmental Sustainability through IPO Expansion

MUTU International (MUTU) or PT Mutuagung Lestari Tbk, an Indonesia-based company established in 1990, has announced its strategic plan to launch an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX). This move comes as part of the company's commitment to seize and expand opportunities within the Testing, Inspection, and Certification (TIC) industry in Indonesia. As the global community places increasing emphasis on environmental sustainability, MUTU aims to play a significant role in promoting responsible practices within the TIC sector.

Environmental sustainability is a critical aspect that demands attention globally and is a key component of the Sustainable Development Goals (SDGs) formulated by the United Nations General Assembly (UNGA) as part of the Post-2015 Development Agenda. One of the factors endangering the environment is greenhouse gas (GHG) emissions, which consist of gases in the atmosphere that trap heat, contributing to the greenhouse effect.

According to data from Our World in Data, global GHG emissions, including carbon dioxide (CO2), methane (CH4), and nitrous oxide (N2O) from all sources, amounted to 54.59 billion tons in 2021. This figure represents an increase of 2 billion tons compared to the emissions recorded in 2020, which stood at 52.59 billion tons.

Various factors contribute to the rise in GHG emissions, such as fossil fuel consumption, deforestation, and livestock farming. The Intergovernmental Panel on Climate Change (IPCC) data reveals that the industrial sector is the largest contributor to global emissions, accounting for 24%, followed by electricity and heat production, agriculture, transportation, buildings, and others. Studies, including one conducted by Vohra et al. in 2021, estimated that air pollution from fossil fuel combustion resulted in approximately 8.7 million global deaths in 2018, surpassing findings from other studies.

To mitigate the increase in GHG emissions, effective measures and collaboration among stakeholders are necessary. Accurate measurement of GHG emissions is essential to implement successful reduction initiatives in line with international agreements and national policies. The development of international standards, such as GHG Emission Verification and Validation, plays a crucial role in achieving accurate measurement.

Recognizing the future commitment of the global industrial community to standardize GHG emissions, MUTU International has decided to proceed with an IPO on the Indonesia Stock Exchange. Through the IPO, the company plans to offer up to 942.85 million shares, equivalent to 30% of its total issued and paid-up capital. The offering price is set within the range of IDR 105 to IDR 110 per share, enabling MUTU to raise an estimated fund between IDR 99 billion to IDR 103.71 billion.

MUTU International Board of Directors, from left: Sumarna, Arifin Lambaga, and Irham Budiman at the 2023 Public Expose ©️Alinea.ID

Arifin Lambaga, the President Director of MUTU International, expressed that this strategic IPO move positions the company to harness significant opportunities within the Indonesian TIC industry. He believes that as the government enforces certification requirements for businesses, the TIC industry will experience accelerated growth.

Arifin Lambaga also emphasized MUTU's strengths in the natural resources and green economy sectors. In the natural resources sector, MUTU contributes by strengthening the values of processing corporations, such as palm oil, timber, and agricultural products, through its testing, inspection, and certification services. Additionally, as a key player in GHG Emission Verification and Validation, MUTU aligns with the global trend towards commitments to reduce greenhouse gas emissions in the future.

Through its IPO, MUTU International aims to continue its dedication to environmental sustainability, contributing to the advancement of responsible practices in the TIC sector and the overall goal of preserving the planet for future generations.


  • “Causes of Climate Change.” European Commission,,greenhouse%20effect%20and%20global%20warming.
  • “Global Greenhouse Gas Emissions Data.” US EPA, 15 Feb. 2023,
  • Roser, Max. “Data Review: How Many People Die From Air Pollution?” Our World in Data, 24 July 2023,
  • Grahanusa Mediatama. “Ini Rencana Mutuagung Lestari (MUTU) Usai Gelar IPO.” PT Kontan Grahanusa Mediatama, 14 July 2023,
  • Bagaskara. “IPO Mutu, Mutuagung Lestari Tangkap Peluang Industri TIC.” Mutu International, 24 July 2023,


Rafa Sukoco

An Indonesian, born into a multiethnic family, with a passion for traveling, culinary experiences, and delving into history and religion. Enjoying life through listening and sharing stories.
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