PP Presisi Holds Annual GMS For Fiscal Year 2023, Here Are The Results

Photo: Doc. PP Precision

JAKARTA - PT PP Presisi Tbk (PPRE) has completed its annual obligation as an issuer in the capital market with the implementation of the 2023 Annual General Meeting of Shareholders (GMS) on Wednesday, June 5, 2024 at the Auditorium Wisma Subiyanto Lt. 1 Jl. TB. Simatupang No. 57 Pasar Rebo, Jakarta.

At the Annual GMS for the 2023 Fiscal Year, the Company made several decisions with seven agenda items presented and have received the following approval:

- Mata Acara Ke-1

Approval of the Annual Report and Ratification of the Company's Financial Statements, as well as Approval of the Supervision Report of the Board of Commissioners of the 2023 Fiscal Year as well as Releasing and Release of Full Responsibility (volledig acquisition et de charge) to the Board of Directors for Management of the Company and the Board of Commissioners on the Company's Supervision Decree which has been carried out during the 2023 Fiscal Year;

- Mata Acara Ke-2

Determination of the Company's Net Profit Use for the Fiscal Year ending on December 31, 2023;

- Mata Acara Ke-3

Determination of Remuneration (Gaji/Honorarium, Facilities and Allowances) for the 2024 Fiscal Year, as well as Tantiem/Specific Performance/Incentive Incentives for the 2023 Financial Year, for the Board of Directors and Board of Commissioners of the Company;

- Mata Acara Ke-4

Determination of the Public Accounting Office (KAP) to Audite the Company's Consolidation Financial Report for the 2024 Fiscal Year;

- Mata Acara Ke-5

Approval of Changes in the Company's Basic Budget;

- Mata Acara Ke-6

Accountability Report For The Use Of Public Offer Results Funds Through Sustainable Public Offering;

- 7th Eye Event

Approval of Changes in the Company's Management Structure.

The company obtained a new contract in 2023 of IDR 6.7 trillion. The company's new contract acquisition was dominated by 2 main business lines, namely Mining Services 65 percent and Civil Work: 30 percent, while the remaining 5 percent was obtained from the supporting business line. The company also recorded a positive performance for the 2023 Financial Year with a revenue of IDR 3.4 trillion and a net profit of IDR 173 billion.

"If you look at the realization of the Company's performance and business, it relatively shows that the Company is focused on mining and construction services, it is still on the right track. Although revenue and net profit show that it has not yet reached the target, the Company can reduce the burden by implementing the cost leadership program that is run as well as implementing optimization of tools to maximize production so that gross profit margins increase at 17.45 percent in 2023. The company is also trying to keep EBITDA at a positive figure of IDR 1.0 trillion in the midst of challenges that must be faced," said Arif Iswahyudi, Director of Finance, Manrisk and Legal PT PP Presisi Tbk.

PPRE shareholders in the Annual GMS have also approved the use of the Company's 2023 Financial Year Net Profit of IDR 173 billion, with a net profit attributable to Owners of Main Entities of IDR 80.22 billion which will be used for: a. Mandatory Reserves of IDR 4,010,777,956 or 5 percent of net profit. Profit Balance Detained of IDR 76,204,781,170 or 95 percent of net profit

PPRE shareholders in Mata Agenda Ke-4 agreed to appoint Amir's Public Accountant Office (KAP), Aryanto, Mawar & Partners to conduct an audit of the Company's Consolidation Financial Report for the 2024 financial year.

PPRE President Commissioner, Nur Rochmad added that the implementation of the Annual GMS activities consisting of seven agenda items had gone smoothly. In the 7th agenda, PPRE Shareholders approved a change in the composition of the Company's Management proposed by the Majority Shareholders of PT PP (Persero) Tbk.

"We would like to thank you very much for the services, energy, thoughts given during his tenure as a member of the PPRE Board of Commissioners and Directors which ended with the closing of the 2023 Annual GMS," said President Commissioner/Independent Commissioner, Mr. Nur Rochmad.

With this, the composition of the Company's management changes to:

Board of Commissioners

President Commissioner/Independent Commissioner: Nur RochmadCommissioner: Albert SM SimangunsongCommissioner: Muhaammad Zahid

Directors

President Director: ArzanDirector of Finance & HCM: M. Arif Iswahyudi Director of Business & Operation Management: Rebimun