JAKARTA - The Annual General Meeting of Shareholders (AGMS) of PT Bank Mayapada Internasional Tbk (MAYA) decided that the company's 2020 financial year profit will be used to strengthen working capital.
In the AGMS held last Wednesday, July 21, it was approved to determine the use of net profit for the 2020 financial year of Rp64.16 billion to strengthen capital.
The profit is used to meet the company's provisions to reserve from net profit every year, until the reserve reaches 20 percent of the total paid-up capital.
"We use it to strengthen the company's capital structure," explained the management of the bank owned by conglomerate Dato Sri Tahir, quoted Thursday, July 22.
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Furthermore, the AGMS approved the report on the realization of the use of funds from the Limited Public Offering XII of Bank Maya in 2019 amounting to Rp997.34 billion, all of which had been realized in the fourth quarter of 2020 and used for business expansion through lending.
Meanwhile, the realization of the use of funds from the XIII limited public offering worth Rp1.99 trillion has also been realized for business expansion through lending and placements with Bank Indonesia in the form of a Depo Facility.
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