- Announcement of cash dividends of Rp135,- per share
- MPMX appointed Kemal Mawira as Director of the Company after being approved by the shareholders at the AGMS 2023
Jakarta, 24 May 2023 – PT Mitra Pinasthika Mustika Tbk (IDX Ticker: MPMX, "The Company"), Indonesia’s leading consumer automotive company, today has conducted the Annual General Meeting of Shareholders (AGMS) for the fiscal year ended December 31, 2022, located at the Company’s office, Lippo Kuningan Building, Jakarta.
The AGMS has resolved various agendas, among others is the acceptance and approval of the Company’s Consolidated Financial Statement for the period which ended on 31 December 2022 and approved the distribution of a Final Cash Dividend to the shareholders of the Company in the amount of Rp135,- (One hundred thirty-five Rupiah) per share from the Company's retained earnings as of 31 December 2022. This amount is equal to 89% of the company’s net profit in 2022 or represents a dividend yield of 11% against the Company’s closing share price on Tuesday, 23rd May 2023.
As of December 31, 2022, MPMX delivered robust financial results, driven by its strong operational excellence and strategic initiatives, hence was able to achieve Rp662 billion of Net Profit, a significant increase of 61% compared to the previous year, contributed by exhibited growth from the distribution, retail, and aftermarket business, transportation, multifinance, and capital gain related to the strategic divestment of 49.9997% of MPMX’s stake in transportation business (MPMRent). And as a result, a healthy balance sheet with a strong cash position of Rp1,99 trillion, allows the Company to reward its shareholders through a consistent dividend distribution.
In the first quarter of 2023, MPMX successfully posted positive growth with total revenue of Rp3.8 trillion, up 34% from the same period in 2022. This encouraging sign shows that MPMX is in a strong position to be able to grow the Company through various channels.
MPMX Group Chief Executive Officer, Suwito Mawarwati said, “This is part of the Company’s strategy to reward its shareholders through the combination of strong business growth and dividend distribution. When we look at our net profit and cash flow at the end of the year, it is always a fine balance to strike between re-investing in the company and rewarding shareholders. We believe both goals are equally important and our top priorities for the years to come. We are optimistic that the positive earnings result of the first quarter of 2023 will carry on through the rest of the year. Besides focusing on optimizing existing businesses, we are continuously searching for merger and acquisition opportunities in the automotive industry. We believe the investments should come with reasonable valuations, sound business propositions, synergies with our existing platform, and light Capex spending going forward. This is in line with our top priorities of re-investing in the company and rewarding shareholders in the future.”
Following the AGMS 2023, MPMX also held an Annual Public Expose at the same venue to deliver a presentation on the Company’s performance, strategy for 2023, and sustainability aspiration.
The session decided on the following two conclusions from the AGMS regarding the reappointment of the Board of Commissioners and the Board of Directors and the appointment of Mr. Kemal Mawira as the Director of the Company, as well as the dividend payout plan, here is the new lineup of Board of Directors and Commissioners of the Company with terms of office starting from the closing of the 2023 AGMS until the closing AGMS for the 2027 financial year to be held in 2028:
President Director: Suwito President Commissioner: Edwin Soeryadjaya
Director: Beatrice Kartika Commissioner: Tossin Himawan
Director: Ivan Commissioner: Danny Walla
Director: Kemal Mawira Independent Commissioner: Istama Tatang Siddharta
Independent Commissioner: Benny Redjo Setyono
MPMX’s dividend payout schedule is as follows:
About PT Mitra Pinasthika Mustika Tbk
||The End of Stocks Trading Period With Dividend Rights (Cum Dividend)
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05 June 2023
07 June 2023
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06 June 2023
08 June 2023
||The cut-off date for the Eligible Shareholders (Recording Date)
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23 June 2023
PT Mitra Pinasthika Mustika Tbk (“MPMX”) is a leading automotive consumer company in Indonesia, established in 1987 by William Soeryadjaya. MPMX is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group. MPMX’s vision is to have a positive impact on life through smart mobility and social integration. By collective power, we aim to deliver the most relevant products and services to the people in our ecosystems through innovation. Our businesses offer a broad spectrum of mobility solutions, from retailing and distributing motorcycles and cars, after-market parts and services, transportation services, and financial services.
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