Mahaka Media GMS Results: Introducing New Management Team And Putting Business Transformation Forward

JAKARTA - PT Mahaka Media Tbk (ABBA), one of the media integration companies in Indonesia, held an Annual General Meeting of Shareholders (AGMS) on Monday 27 June, to introduce a new management team that will transform the company's conventional media business into digital technology media. This is done in order to create added value for the company.

Mahaka Media is rebranding to "Mahaka X", which will implement a new strategy focused on digital media and technology through four pillars, namely Content and Publisher, Marketing Services, Creators and Community, and Conversational and Commerce.

Coinciding with the rebranding, the company will focus on two main programs. First, the company will launch new technology initiatives for existing business units, namely strengthening the Republika brand and offering new solutions for the Muslim community by launching the Muslim innovation platform, Inaya.

Second, the company will also contribute to increasing the growth of the economic ecosystem of Indonesian creators. Through a new business unit that aims to empower content creators by helping creators create quality creative content, improving their business infrastructure and opening monetization paths. Thus, companies can provide more complete digital marketing and public relations marketing solutions for partner companies.

Business transformation was also carried out by other companies in the Mahaka Group. Such as the transformation carried out by PT Mahaka Radio Tbk (MARI) from a traditional radio business to a digital audio powerhouse. This will also encourage the value generated from the Group's synergy for Mahaka X to be more optimal.

In addition, Mahaka X strives to continue to create other initiatives with its new shareholders who invest through a rights issue or Pre-emptive Rights (HMETD) in February 2022.

New Management

At the AGM, the company appointed Farash Farich as President Director who has extensive experience in the capital market and finance and Vincentius Dicky Haryanto as Director who previously worked at Google Indonesia as Industry Manager (e-Commerce) & Strategic Partnership Development Manager.

In addition, these companies also appointed Aliya Tjakraamidjaja as Chief Operating Officer. She is Co-Founder/COO at Tinkerlust and Co-Founder/Sales and External Partnership Director at Stellar Women.

Mahaka X appointed members of the board of commissioners consisting of Mahendra Ratherhan Thohir as President Commissioners, Rudi Laksmana and Martin Suharlie as Commissioners, Angkie Yudistia, and Aldo Rambie as Independent Commissioners. The composition of the board of commissioners represents a wider range of stakeholders with representatives from founders, senior management, women, and the technology industry.

With this diverse management team background, they can complement each other and ensure that new business strategies can be implemented and produce optimal value for the company's shareholders.

Farash Farich, President Director of Mahaka X, said technology and digital are two words that will determine the development of the media landscape in the future.

"We believe that media technology business initiatives and strategies can provide superior financial performance for the company and our shareholders. With this new business strategy, we also see a business opportunity to develop the Indonesian creator economy; we believe that the new business unit in Mahaka X can drive the company's growth in the future," Farash said in his statement, quoted on Tuesday, June 28.

Summary of GMS for Fiscal Year December 31, 2021

In Mahaka Media's Annual General Meeting of Shareholders (AGM), the agenda discussed are:

1) Report on the accountability of the Board of Directors for the Company's activities ending in December 2021

2) Approval of the use of the Company's profit (loss)

3) Report on the use of funds resulting from Capital Increase by Granting Pre-emptive Rights (PMHMETD VI)

4) Granting Authority to the Board of Commissioners and Committees Remuneration to determine honorarium

5) Granting power of attorney to the Board of Commissioners to determine and determine the Public Accountant and Public Accountant Firm

6) Changes in the composition of the Board of Directors and Board of Commissioners of the Company.

For information, Mahaka Media recorded revenue in 2021 of IDR 168.7 billion, an increase of 6.4 percent from the company's revenue in 2020 of IDR 158.6 billion.

The largest contribution to consolidated revenue during 2021 was from advertising revenue, which amounted to IDR 95.3 billion or contributed 56.5 percent to total consolidated revenue.

In line with the improvement in the economy and business as it changes from a pandemic to an endemic, the company's business performance is also slowly improving. The Company's Board of Directors continues to develop business innovations that are considered in accordance with the Company's business plan to carry out business transformation that is correlated with the current business situation and future business climate.

The Company took a strategic step in 2021 by forming several Joint Ventures which are believed to have a positive impact on the company, including the establishment of PT Akasia Damcorp Waba and PT Khazanah Alwahda Kreatif.