Mitratel Holds Annual GMS, Ready To Distribute Dividend

Illustration. (Photo: Doc. Mitratel)

JAKARTA - The issuer of the Telkom Group (TLKM) subsidiary, PT Dayamitra Telekomunikasi Tbk (MTEL) plans to hold an Annual General Meeting of Shareholders (AGM) on Friday, April 22. In this meeting there are several agendas that will be discussed, one of which is the distribution of dividends.

Previously, the summons for the meeting had been made through the PT Kustodian Sentral Efek Indonesia (KSEI) website, PT Indonesia Stock Exchange, and the Company's website www.mitratel.co.id on March 31, 2022. As for the shareholders who are entitled to attend and vote in the meeting, their names must be recorded in the Company's Shareholders Register or securities account at KSEI on March 30, 2022 at 16.15 WIB last.

This time's AGMS will be held virtually through the Electronic General Meeting System facility provided by KSEI, related to the COVID-19 prevention and control guidelines. This e-Proxy facility is available for shareholders who are entitled to attend the AGMS from the date of the invitation to the AGMS, which is March 31, 2022 until Thursday, April 21, 2022 at 12.00 WIB.

The following is the agenda for the 2021 AGMS: 1. Approval of the Company's Annual Report for the 2021 Fiscal Year, including the Report on the Supervisory Duties of the Board of Commissioners.2. Ratification of the Company's Financial Statements for the 2021 Financial Year and Release of Responsibilities of Members of the Board of Directors and Board of Commissioners.3. Determination of the Use of the Company's Net Profit for the 2021.4 Financial Year. Determination of Remuneration (salary/honorarium, facilities and allowances) for 2022, as well as Tantiem for the 2021 Financial Year for the Board of Directors and Board of Commissioners of the Company.5. Appointment of a Public Accounting Firm to examine the Company's Financial Statements for the 2022 Fiscal Year including the Internal Control Audit of Financial Reporting.6. Report on the Use of Proceeds from the Company's Initial Public Offering.7. Approval of the Amendment to the Company's Articles of Association.8. Approval of Changes in the Composition of the Company's Board of Directors.9. Approval of Changes in the Composition of the Company's Board of Commissioners.

At the same time, the AGMS will also discuss plans related to the use of the Company's net profit in 2021, one of which is to be distributed as dividends. The Company will seek approval from shareholders for 70 percent of net profit to be distributed as dividends along with the amount and date of payment.

This dividend distribution is in line with the Company's brilliant performance during 2021 by pocketing a net profit of Rp. 1.38 trillion, this number rose 129.4 percent from the same period last year of Rp. 602 billion. The surge in net profit of a subsidiary of PT Telkom Indonesia (Persero) Tbk (TLKM) is in line with its revenue growth.

Throughout 2021, Mitratel's revenue grew 11 percent to IDR 6.87 trillion compared to 2020 which was IDR 6.18 trillion.

For this year, BRI Analyst Danareksa Sekuritas Niko Margonis said, Mitratel promises a better performance in 2022 in line with the large number of tower assets owned by the company.

Until now, Mitratel has more than 28,200 towers with 42,500 tenants spread across various islands in Indonesia, in particular 58 percent or 16,200 towers are outside Java. In accordance with the government's program for the development of telecommunications infrastructure outside Java.

"Coupled with complete fiber optic services, Mitratel's competitiveness is even greater and this will bring several large internet network provider companies such as Indosat, XL and Smartfren to cooperate with Mitratel," said Niko.