Key news highlights:

• Mowilex made Deloitte's list of Indonesia's Best Managed Companies for the second year in a row.
• The honour recognizes privately-owned Indonesian companies for their organizational excellence, industry contributions and economic impact.
• Mowilex is an industry leader making significant sustainability, technology and governance investments.

JAKARTA, Indonesia, Aug. 1, 2023 /PRNewswire/ -- Paint manufacturer PT Mowilex Indonesia (Mowilex) won a 2023 Best Managed Companies in Indonesia award from Deloitte, marking its second consecutive year as an honouree. The company, which produces premium paints and coatings, was recognized for industry leadership, management quality and economic success.

"The Mowilex management team balances the complicated and often opposing interests of shareholders, customers and employees, while also implementing environmentally responsible practices. We operate in a very competitive industry which demands that we continuously innovate and strive for efficiency," says Niko Safavi, CEO of PT Mowilex Indonesia. "We don't set out to win awards. Instead, our vision is to be Indonesia's most trusted paint brand. This recognition by Deloitte, an organization with tremendous integrity and credibility, demonstrates that Mowilex is on the right track."

Deloitte Indonesia presented Safavi with Mowilex's award during a July 27 ceremony at the Grand Hyatt Jakarta. Private companies honoured by Deloitte are independently evaluated against a framework applied to 1,300 Best Managed Companies worldwide. Assessments explore strategy, capabilities and innovation, culture and commitment, and governance and financials.

Mowilex distinguishes itself with noteworthy sustainability efforts, including four consecutive carbon neutral certifications, major solar investments, and the recent planting of 50,000 trees that will protect coastline and capture carbon. In early 2023, the company opened a new factory designed to reduce carbon emissions by up to 7%. The green building features innovative technologies and a zero-waste water treatment system that cleans and repurposes all water used in the production process.

Mowilex also stands out for its exceptional organizational approach.

"We're succeeding thanks to our flat management structure, which encourages risk-taking guided by sound analysis; our investments to improve skills and technology; our stance on environmental responsibility; and our pursuit of excellence in governance," says Safavi. "One of the most gratifying aspects of the Best Managed Companies award is that it recognizes management, including the dozens of talented Mowilex managers and team members who support our executives."

Roy Tedja, Best Managed Companies Leader, Deloitte Indonesia said, "We welcome eleven winners to the Indonesia Best Managed Companies awards program this year. They joined the elite global community of Best Managed Companies across 46 countries, and are at the forefront of their industry, contributing to their business community and the Indonesian economy. I'm confident they will continue to strive for greater success in the years to come. My heartfelt congratulations to the 2023 winners."

Best Managed is a flagship program presented by Deloitte Private, a division of Deloitte exclusively focused on serving private clients of all sizes.

Visit Mowilex.com to learn more about the company's products and sustainability programs.

About PT Mowilex Indonesia

PT Mowilex Indonesia (Mowilex), a subsidiary of Asia Coatings Enterprises, Pte. Ltd., is a leading producer of premium paints and coatings. Since launching the first Indonesian-made, water-based paints in 1970, the company has expanded its commitment to environmental ethics, equality, community and innovation. PT Mowilex is Indonesia's only certified carbon neutral manufacturer, producing zero and low VOC paints in modern colours, and the company regularly wins awards for its corporate social responsibility and sustainability efforts. media@mowilex.com 

About Indonesia Best Managed Companies program

Best Managed Companies is a global awards program that recognises organisational excellence, success, and entrepreneurial spirit in privately held companies. This program provides a distinct framework for management teams to challenge themselves and benchmark against some of the best private companies in the world.

In its 30^th year, the Best Managed Companies program has expanded to 46 countries across the Americas, Europe and Asia Pacific, with a global network of over 1,300 outstanding companies, and these companies come together as a community to build alliances and share insights.

For more information on the awards program, visit the Indonesia Best Managed Companies.