PT PP Presisi Tbk (PPRE) has held an Annual General Meeting of Shareholders (AGMS) for the 2024 Fiscal Year, which resulted in a number of strategic decisions for the company's sustainability and growth.
The two main decisions taken in the AGMS are the determination of the use of net profit for the 2024 financial year as well as changes in the composition of the board of directors and board of commissioners.
During the meeting, PPRE determined that the 2024 net profit attributable to owners of the parent entity of Rp90.34 billion will be allocated as follows: Rp4.52 billion or approximately 5 percent allocated as mandatory reserves, while the rest, approximately 95 percent or around Rp85.82 billion, is put into retained earnings balance.
The President Director of PPRE, Arzan, said that throughout 2024, the company managed to record a solid performance, by posting revenues of IDR 3.7 trillion and net profit of IDR 194 billion.
The revenue was obtained from a new contract worth IDR 6.8 trillion, most of which came from two main business lines, namely mining services of 70 percent and civil work of 28 percent. Meanwhile, the remaining 2 percent came from other supporting business lines.
"The realization of performance throughout this year shows the success of the PPRE business transformation, especially in the mining service line which is now the main pillar of the company's growth. This achievement not only reflects the toughness of our strategy, but also becomes a solid foundation for sustainable business development going forward," Arzan said in his official statement, Friday, May 23.
In addition to discussing the use of net profit, the AGMS also approved changes to the composition of the board of directors and board of commissioners as part of efforts to strengthen the company's leadership structure.
The latest composition is as follows:
Board of Commissioners:
- President Commissioner/Independent Commissioner: Narwanto- Commissioner: Maulana Malik Ibrahim- Commissioner: Albert SM Simangunsong
Directors:
- President Director: Rizki Dianugrah- Director of Finance & Human Capital Management: M. Arif Iswahyudi - Director of Business & Operations Management: Yovi Hendra
This change in management structure is expected to strengthen leadership and support the company's long-term strategy in maintaining sustainable growth and increasing value for shareholders.
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