The Annual General Meeting of Shareholders

The company held an Annual General Meeting of Shareholders (AGMS) on 21st May 2019 in Panin Bank Plaza’s 3rd floor, Jl. Palmerah Utara no.52, Jakarta. Below are some of the decisions made during the AGM:

• It approved the company’s Annual Report and financial Statements for the fiscal year ending 31st December 2018 and released the members of the company’s Board of Directors from their management responsibilities, as well as released the members of the company’s Board of commissioners from their supervisory responsibilities.
• Agreed to the use of profits for the fiscal year ending 31st December 2018 amounting to Rp3,000,000,000 (three billion Rupiah) for reserve funds with no dividends distribution for the year. The remaining net profit amount after deducting the reserve funds is used for investment purposes and working capital of the company, booked as retained earnings.
• Appointed the members of the Board of Directors and Board of commissioners as of the closing of this AGM for the next term as follows:

Board of Directors

• President Director: Pankaj Oberoi
• Vice President Director: Karel Fitrijanto
• Vice President Director: Thomas Paitimusa
• Vice President Director: Arun Nanwani
• Finance Director: Dinesh Ramu
• Director: Peggy Wystan

Board of Commissioners

• President Commissioner: Ramaswamy Athappan
• Vice President Commissioner: Mu’min Ali Gunawan
• Independent Commissioner: Lukman Abdullah
• Independent Commissioner: Dr. H. Firdaus Djaelani, MA
• Approved the honorarium amount for the Board of commissioners for the fiscal year 2019 of Rp750,000,000, – (Seven Hundred fifty Million Rupiah).
• Provided the power of attorney to the Board of commissioners of the company that carries out the nomination and remuneration functions, to determine the salary and benefits of the members of the company’s Board of Directors.
• Approved to delegate the authority to appoint a public accountant and public accounting firm that will audit the company’s financial Statements for fiscal year 2019 to the Board of commissioners, while considering the Audit committee’s recommendations on the selection.