Sunindo Pratama Reshuffles Board Of Directors, Appoints New Finance Director

Appointment of new directors (Photo: Unsplash)

JAKARTA - The Annual General Meeting of Shareholders of PT Sunindo Pratama Tbk (SUNI) approved to reshuffle the board of directors.

Shareholders officially appointed Freddy Soejandy as Finance Director of PT Sunindo Pratama Tbk. President Director of SUNI, Willy Chandra stated that the addition of the Company's management was a strategic step to strengthen SUNI's performance as a support company for the oil and gas industry in Indonesia.

"The presence of the new board of directors of the Company is expected to provide new nuances and synergies to realize the vision and mission of the Company, so that it will make SUNI more resilient in facing challenges in the future, especially in supporting the government to achieve the oil production target of 1 million barrels per day in 2030," said Willy, Wednesday, June 12.

In full, the composition of the Board of Directors and Board of Commissioners of PT Sunindo Pratama Tbk is as follows:

Board of Commissioners - President Commissioners : Soe To Tie Lin-Independent Commissioner : Harry Wiguna

Director-President Director : Willy Johan Chandra- Director of Operations : Bambang Prihandono- Director of Finance : Freddy Soejandy

After the AGMS event, SUNI held a Public Expose that discussed the Company's performance in the 1Q 2024 period and operational performance until April 2024.

In the first quarter of 2024, the Company managed to record a net profit of IDR 33.4 billion, an increase of 68.6 percent yoy which is in line with operating income of IDR 162.7 billion, an increase of 15.1 percent yoy from the same period in 2023.

The increase in operating income was supported by growth in the sales segment which increased by 15.1 percent yoy in line with the growth in the sales volume of OCTG tubing and casings which grew by 35.6 percent yoy and 117.8 times yoy, respectively.

Finance Director of PT Sunindo Pratama Tbk, Freddy Soejandy said that this year's operational performance was in line with the Company's plans and targets. Until April 2024, SUNI managed to sell 6.3 thousand tons of OCTG accused, or increased significantly by 90.5 percent yoy compared to the same period last year.

The sales volume of OCTG is contributed by OCTG tubing high and low grade, 22.2 percent and 77.8 percent yoy, respectively.

The achievement of OCTG's sales volume is a 31.7 percent target in 2024. The sales volume of OCTG casings also increased by 191.7 times in April 2024 to 2.5 thousand tons and reached the target in 2024 of 28.9 percent.