Harita Nickel Gets Share Buyback Restu Of Up To IDR 1 Trillion

JAKARTA - The Annual General Meeting of Shareholders (AGMS) of PT Trimegah Bangun Persada Tbk (NCKL) or Harita Nickel approved the buyback of shares worth IDR 1 trillion.

The share buyback will be carried out twelve months after obtaining approval from the AGMS, in accordance with the provisions of the Financial Services Authority Regulation (OJK) Number 29 of 2023.

"The company will allocate a maximum of IDR 1 trillion for this share repurchase plan, with an implementation period of twelve months after approval," said Harita President Director Nickel Roy Arman Arfandy quoting Antara.

Roy said that the company sees that currently the company's fundamentals tend to be positive but the share price does not reflect this, so the company will buy back the shares of IDR 1 trillion.

On this occasion, Roy emphasized the company's commitment to sustainability in the future. In terms of standard governance and reporting, he said various standards and certifications had been met and in the process, including the Initiative for Respondible Mining Assurance (IRMA).

IRMA is a comprehensive standard for mineral mining and processing that is responsible and supported by various stakeholders.

"The company has completed the self-assistment process and is in the audit process," said Roy. In addition to the IRMA, he continued, the company has also been registered as an active facility for Respondible Minerals Assurance Process (RMAP) by the Respondible Minerals Initiative (RMI), and is in the process of being audited.

In addition to governance standards and reporting, he said the company is committed to carrying out sustainable integration in terms of ecosystem protection and environmental conservation, as well as various community development and empowerment programs, consisting of including health, education, social and cultural services, as well as the economy.

In the first quarter of 2024, mining production reached 5.88 million wet metric tons (wmt), an increase of 38 percent (yoy) compared to the same period the previous year.

Throughout 2023, the company posted revenues of Rp 23.86 trillion, or an increase of 149.4 percent year on year (yoy) compared to the previous year.

In addition, the company also recorded a profit for the 2023 financial year attributable to owners of the company's parent entity of IDR 5.62 trillion, or an increase of 20.4 percent (yoy) compared to the previous year.