Good News From CSAP, This Mitra10 Outlet Owner Wants To Distribute 19.72 Percent Dividend From Rp90 Billion Profit

The Board of Directors and Commissioners of PT Catur Sentosa Adiprana Tbk. (Photo: Doc. Catur Sentosa Adiprana)

JAKARTA - PT Catur Sentosa Adiprana Tbk (CSAP) distribution company for Building Materials, Chemicals and Consumer Goods/FMCG, and owner of a modern retail outlet network of Building Materials & Home Improvement Mitra10 and Home Furnishing Atria, received shareholder approval at the AGMS on 19 August 2021 to distribute dividends.

CSAP Corporate Secretary, Idrus H. Widjajakusuma said the meeting had approved the distribution of dividends of 19.72 percent of the net profit attributable to owners of the parent entity for the 2020 financial year of Rp90.42 billion.

"Cash dividends will be distributed on September 22, 2021 to the company's shareholders whose names are recorded in the Register of Shareholders on August 31, 2021 (recording date)," said Idrus in a written statement, Monday, August 23.

Other detailed procedures will be announced further through information disclosure to the stock exchange authority. In addition to allocating net income for cash dividends, shareholders also approved Rp. 200 million as a mandatory reserve fund to fulfill the provisions of Article 25 of the Company's articles of association and Article 70 of Law No. 40 of 2007 concerning Limited Liability Companies.

The remaining Rp72.39 billion was used to strengthen the company's working capital and was recorded to increase retained earnings.

At the end of 2020, CSA P's consolidated revenue reached IDR 12.7 trillion, growing 4.8 percent compared to the 2019 period. The distribution segment grew positively by 3.8 percent to IDR 8.33 trillion and the modern retail segment grew 7.2 percent to IDR 4.52 trillion.

The company's gross profit also increased from 14.9 percent in the 2019 period to 15.6 percent in the 2020 period or grew 9.4 percent. As soon as significant growth occurred in the company's Net Profit to Rp90 billion in the 2020 period, which previously was only Rp46 billion in the 2019 period or grew by 97 percent.

The meeting also granted full release and settlement (acquit et de charge) to members of the board of directors and members of the board of commissioners of the company for their management and supervisory actions during the 2020 financial year.

In addition to holding the AGMS, CSAP also held an Extraordinary General Meeting of Shareholders (EGMS) with one of the agendas in the form of a change of management.

After being approved by the Meeting, the composition of the CSAP board as of August 19, 2021 is as follows:

Board of Commissioners:

1. Achmad Widjaja, President Commissioner

2. Paramate Nisagornsen, Commissioner

3. Kenneth Ng Shih Yek, Commissioner

4. Seow Han Yong Justin, Commissioner

5. Justinus Aditya Sidharta, Independent Commissioner

6. Heny Ratnasari Dewi, Independent Commissioner

Directors:

1. Budyanto Totong, President Director

2. Antonius Tan, Director

3. Andy Totong, Director

4. Warit Jintanawan, Director