Investors

Investors Relation

Overview of MPC
Vision

To be a leading investment company that offers high added value to the stakeholders and contributes positively to the public.

Mission

To develop a strategic business portfolio through continuous expansion and investments to create a sustainable growth and gain a maximum corporate value.

Corporate Structure

 

Supporting Institutions & Professionals

Public Accountant Firm

Amir Abadi Jusuf, Aryanto, Mawar & Rekan
RSM Indonesia
Plaza Asia Lt. 10
Jl. Jend. Sudirman Kav 59 Jakarta 12190
T: +62 21 5140 1340
F: +62 21 5140 1350

Notary

Notaris Sriwi Bawana Nawaksari, S.H., M.KN
Ruko L’Agricola Blok B-21
Gading Serpong, Tangerang
Banten 15810
T: +62 21 2943375 / 376
F: +62 21 54202011

Share Administration Bureau

PT Sharestar Indonesia
Sopo Del Office Tower & Lifestyle
Tower B Lantai 18
Jl. Mega Kuningan Barat III, Lot 10. 1-6
Kawasan Mega Kuningan
Jakarta 12920
T: +62 21 50815211
F: +62 21 527 7967

 

People
Organization Structure

Board of Commissioners

Bunjamin J. Mailool

President Commissioner
Bunjamin J. Mailool
President Commissioner

Bunjamin J. Mailool was appointed as the Company’s President Commissioner upon the decision of the 2017 Annual General Meeting of Shareholders. His appointment was formalized in the Annual General Meeting of Shareholders Deed of Resolution No. 73, dated 28 May 2018, drafted before Tangerang-based Notary Sriwi Bawana Nawaksari, S.H., M.Kn.

He began and built his professional career with Citibank NA Jakarta in 1989, and his last post was as Vice President in 1997. In March 1997, he joined the Lippo Group at PT Bukit Sentul Tbk, where he served as CEO until 2001. He commenced his services as President Director for PT Matahari Putra Prima Tbk in 2002 until 2018, and PT Matahari Department Store Tbk since 2009. He served as President Director of the Company from 2014 until 2015, wherein he accepted his appointment as member of the Nomination and Remuneration Committee from 2015 to this day, while concurrently serving as President Commissioner.

He is an Indonesian citizen, aged 59 as of 31 December 2022. He obtained his MBA from Oklahoma State University and BSc from California State University of Fresno, USA.

Alexander S. Rusli

Independent Commissioner
Alexander S. Rusli
Independent Commissioner

Alexander S. Rusli was appointed as the Company’s Independent Commissioner upon the decision of the 2020 Annual General Meeting of Shareholders. His appointment was formalized in the Annual General Meeting of Shareholders Deed of Resolution No. 38, dated 19 July 2021 drafted before Tangerang-based Notary Sriwi Bawana Nawaksari, S.H., M.Kn.

After working as a full-time lecturer in Australia, he returned to Indonesia in 1997 and started his professional career journey in Indonesia at PricewaterhouseCoopers as a Management Consultant focusing on large IT Implementation projects.

As an experienced executive with a strong background in technology, he has held key positions or positions in private companies throughout his career, including CEO at PT Indosat Tbk, Indonesia’s second-largest telecommunications operator, from 2012-2017; Independent Commissioner at PT Sarana Menara Nusantara Tbk (Protelindo), from 2018-2019; Chairman at iFlix Indonesia, from 2018-2020; Commissioner at PT Solusi Sinergi Digital Tbk, since 2019 – Februari 2022; Independent Commissioner at PT Medikaloka Hermina Tbk (Hermina Hospital Group), since 2018-present; Independent Commissioner at PT Unilever Indonesia Tbk, since 2018-present; Independent Commissioner at PT Link Net Tbk, since 2020-present; Independent Commissioner at PT Cisarua Mountain Dairy Tbk, since 2021-present.

He has also held several positions in government, namely as Expert Staff at the Ministry of Communication and Information Technology, from 2001 – 2007; Expert Staff at the Ministry of SOEs, from 2007 to 2009; Expert Staff to the Minister of Finance of the Republic of Indonesia for the National Tax System, from 2019 to the present; and Advisor for Crescent Point for Indonesia, from 2019 to the present. From 2007 to 2009, he held the following posts in several State-Owned Enterprises: Commissioner at PT Krakatau Steel Tbk; President Commissioner at PT Geodipa Energi; and Commissioner at PT Kertas Kraft Aceh.

Additionally, he is also the founder of PT Digi Asia Bios, a consolidated Fintech holding company that offers digital payment, credit, and remittance financial services in Indonesia. He also has a Joint Venture with Tempo Digital Media which focuses on animation for Indonesian IP characters.

He is actively involved in growing and incubating digital businesses by investing in early-stage startups and serving on their boards of directors or as an active advisor. Apart from investing, he advises other firms that are experimenting with innovative business models, such as IRMA, GrosirOne, Surge, Doogether, etc.

He is an Indonesian citizen, 51 years old as of December 31, 2022. He holds several degrees as a Bachelor of Business, Information System in 1992, a Bachelor of Commerce (Hons), Information System in 1993 and a Doctor of Philosophy (Ph.D.), Information Systems in 2000, the three degrees were obtained from the Curtin University of Technology, Perth, Australia.

David Fernando Audy

Independent Commissioner
David Fernando Audy
Independent Commissioner

David Fernando Audy was appointed as the Company’s Independent Commissioner upon the decision of the 2022 Annual General Meeting of Shareholders.

He has experience in various positions such as Operating Partner of East Ventures, a sector-agnostic technology venture capital firm, where he oversaw portfolio companies on operations and value creation initiatives. Previously, he was President Director & CEO of PT Media Nusantara Citra Tbk and Director of PT Global Mediacom Tbk (2016-2020) and has 20 years of operational experience in several companies with various sectors such as technology, investment, media, telecommunications, and consumer. Other positions he has held include CEO of InewsTV, CEO of MNC-JCDecaux, CEO of PT Infokom Elektrindo, CEO of GlobalTV, CEO of WeChat Indonesia, CEO of PT MNC Pictures and Founder of Okezone.com. Since 2021 until now, he has served as Independent Commissioner of PT Matahari Department Store Tbk.

He is an Indonesian citizen, aged 44 years old. He earned his Bachelor of Commerce in Finance & Information Systems in 2001 and Master of Commerce in Professional Accounting in 2002, both at the University of New South Wales, Sydney, Australia.

Jeffrey K. Wonsono

Commissioner
Jeffrey K. Wonsono
Commissioner

Jeffrey K. Wonsono has been appointed as the Company’s Commissioner since 2011. His appointment is stated in the Annual General Meeting of Shareholders Deed of Resolution No. 19, dated 22 February 2011, drafted before Rini Yulianti, S.H., a notary based in East Jakarta. Before serving as Commissioner, he was the Company’s President Director from 1994 until 2011.

His professional career began with several multinational joint-venture banks, notably PT Bank Multicor and PT Bank LTCB Central Asia. He served as Commissioner of PT Matahari Putra Prima Tbk (1997-2013), President Commissioner of PT Multipolar Technology Tbk (2011-2013), and Commissioner for PT Multifiling Mitra Indonesia Tbk (2017-2021). Currently, he serves as Commissioner of PT Multipolar Technology Tbk (since 2013), President Commissioner of PT Visionet Data Internasional (since 2016), and concurrently serves as President Commissioner of PT Pacific Eastern Coconut Utama (since 2019).

He is an Indonesian citizen, aged 62 as of 31 December 2022. He obtained a Master of Business Administration degree in banking from Golden Gate University, USA in 1986. He holds a bachelor’s degree in Marketing from the Center of Business England, which he earned in 1979.

Henry J. Liando

Commissioner
Henry J. Liando
Commissioner

Henry J. Liando has been appointed as the Company’s Commissioner by the decision of the Annual General Meeting of Shareholders for the fiscal year 2017. The appointment was formalized in the Annual General Meeting of Shareholders Deed of Resolution No. 73, dated 28 May 2018, drafted before Tangerang-based Notary Sriwi Bawana Nawaksari, S.H., M.Kn.

Before joining the Company, he worked with various global banks, with his last post as Chief Financial Officer & Treasurer of Global Consumer Group of Citibank N.A. Indonesia. He served as Commissioner of PT Matahari Department Store Tbk (2010-2018), then he served as Director (2018-2019). He has been concurrently serving as Commissioner for PT Matahari Putra Prima Tbk (2018-2020), Independent Director of PT Link Net Tbk (2013-2017), and Director of PT Link Net Tbk (2017-June 2022).

He is an Indonesian citizen, aged 59 as of 31 December 2022. He holds a Master’s degree in Business Administration in Finance from Oregon State University, USA, and an undergraduate degree in Chemical Engineering from Bandung Institute of Technology.

Board of Directors

Adrian Suherman

President Director
Adrian Suherman
President Director

Adrian Suherman was appointed as the Company’s President Director by the decision of the 2019 Annual General Meeting of Shareholders. His appointment was formalized in the Annual General Meeting of Shareholders Deed of Resolution No.68, dated 12 June 2020, drafted before Tangerang-based Notary Sriwi Bawana Nawaksari, S.H. M.Kn.

He started his career in 1995, leading product development, strategy, and operations for global software companies including Oracle and Sun Microsystems in Silicon Valley. After his stint in the USA, he returned to Indonesia as a manager to top-tier management consulting firm A.T. Kearney (2007-2010) and successfully established the startup company Dealkeren (eventually sold to Livingsocial), the fastest growing and most significant e-commerce company in the country (2010-2012). He then rejoined the corporate world through Telkomsel as Vice President (2012-2014) and paved the way for Telkomsel to become a vital player in Indonesian mobile advertising. An entrepreneur by nature, he established another successful startup, aCommerce (2014-2015), before accepting a post as CEO with OVO (PT Visionet Internasional) (2016-2019). He concurrently serves as President Director at PT Matahari Putra Prima Tbk (since 2019), President Commissioner at PT Multipolar Technology Tbk (since 2019), and Commissioner at PT Matahari Department Store Tbk (since 2020).

He is an Indonesian citizen, aged 49 as of 31 December 2022. He earned an MBA in Corporate Strategy and Operations from the European Institute for Business Administration (INSEAD) in 2006. He also holds a Master of Science degree in Electrical Engineering from Stanford University, USA (1997), and a Bachelor of Science degree in Computer Engineering from the University of Arizona, USA (1995).

Agus Arismunandar

Director
Agus Arismunandar
Director

Agus Arismunandar was appointed as the Company’s Director based on the decision of the 2018 Annual General Meeting of Shareholders. His appointment is stated in the Annual General Meeting of Shareholders Deed of Resolution No.136, dated 29 April 2019, drafted before Tangerang-based Notary Sriwi Bawana Nawaksari, S.H., M.Kn.

He began his career with the Lippo Group in 2006 when he joined PT Matahari Department Store Tbk, wherein he was last posted as Head of Marketing & Promotion. In 2013, he joined the Company as Head of Investor Relations, and in 2019 he was appointed as a member of the Board of Directors of the Company. Currently, he also serves as President Commissioner at PT Lenox Pasifik Investama Tbk (since 2020) and Director at PT Star Pacific Tbk (since July 2022).

He is an Indonesian citizen, aged 57 as of 31 December 2022. He earned a Bachelor of Science degree in Electrical Engineering in 1988 from California State University at Long Beach, USA, and a Master of Business Administration degree in Marketing and IT in 1991 from the University of California at Davis, USA.

Fendi Santoso

Director
Fendi Santoso
Director

Fendi Santoso was appointed as the Company’s Director based on the decision of the 2019 Annual General Meeting of Shareholders. His appointment is stated in the Annual General Meeting of Shareholders Deed of Resolution No. 68, dated 12 June 2020, drafted before Tangerang-based Notary Sriwi Bawana Nawaksari, S.H., M.Kn.

He has 20 years of experience in private equity and corporate space. Prior to the Company, he served as CFO at PT Matahari Putra Prima Tbk. He also spent 4 years at The Abraaj Group as Director overseeing investments in Southeast Asia and 5 years at Northstar Group – a leading private equity firm focusing on Southeast Asia countries, where he was involved in several transactions in various sectors, including several financial services and consumer-facing businesses. Prior to this, he held various positions at Jardine Group – including Astra International, Jardine Motors Group, Jardine Matheson, and Federal International Finance. Currently, he also serves as Commissioner at PT Matahari Putra Prima Tbk (since 2020), Director at PT Lenox Pasifik Investama Tbk (since July 2022), and President Commissioner at PT Star Pacific Tbk (since July 2022).

He is an Indonesian citizen, aged 43 as of 31 December 2022.

Jerry Goei

Director
Jerry Goei
Director

Jerry Goei was appointed as the Company’s Director based on the decision of the 2020 Annual General Meeting of Shareholders. His appointment is stated in the Annual General Meeting of Shareholders Deed of Resolution No. 38, dated 19 July 2021, drafted before Tangerang-based Notary Sriwi Bawana Nawaksari, S.H., M.Kn.

Prior to joining the Company as COO in 2020, Jerry Goei served as President Director of Dwi Satrya Utama (DSU) Group since December 2015. Prior to joining DSU Group, he spent four years with Northstar Group, a leading private equity firm in Indonesia until Dec 2015, with the last position as the Managing Director and Head of Operations of Northstar. Before Northstar, he has held several C-level executive positions in several companies, including the Country Director of AkzoNobel Group in Indonesia and at the same time holding the position of President Director and CEO of PT ICI Paints Indonesia (Dulux), which is AkzoNobel largest subsidiary in Indonesia. He spent 12 years in total with ICI/AkzoNobel. He has also worked for Accenture, American Standard, and Sampoerna. Currently he also serves as Commissioner at PT Multi Prima Sejahtera Tbk (since 2020).

He is an Indonesian citizen, aged 53 as of 31 December 2022. He obtained his Bachelor of Science degree in Computer Sciences from the University of Texas at Austin in 1991 and MBA degree from Baylor University in 1992. He also attended executive development programs at IMD (Lausanne – Switzerland) in 2007 and INSEAD (Fontainebleau – France) in 2011.

Management Team

Adrian Suherman

Chief Executive Officer
Adrian Suherman
Chief Executive Officer

He started his career in 1995, leading product development, strategy, and operations for global software companies including Oracle and Sun Microsystems in Silicon Valley. After his stint in the USA, he returned to Indonesia as a manager to top-tier management consulting firm A.T. Kearney (2007-2010) and successfully established the startup company Dealkeren (eventually sold to Livingsocial), the fastest growing and most significant e-commerce company in the country (2010-2012). He then rejoined the corporate world through Telkomsel as Vice President (2012-2014) and paved the way for Telkomsel to become a vital player in Indonesian mobile advertising. An entrepreneur by nature, he established another successful startup, aCommerce (2014-2015), before accepting a post as CEO with OVO (PT Visionet Internasional) (2016-2019). He concurrently serves as President Director at PT Matahari Putra Prima Tbk (since 2019), President Commissioner at PT Multipolar Technology Tbk (since 2019), and Commissioner at PT Matahari Department Store Tbk (since 2020).

He is an Indonesian citizen, aged 49 as of 31 December 2022. He earned an MBA in Corporate Strategy and Operations from the European Institute for Business Administration (INSEAD) in 2006. He also holds a Master of Science degree in Electrical Engineering from Stanford University, USA (1997), and a Bachelor of Science degree in Computer Engineering from the University of Arizona, USA (1995).

Fendi Santoso

Chief Financial Officer
Fendi Santoso
Chief Financial Officer

He has 20 years of experience in private equity and corporate space. Prior to the Company, he served as CFO at PT Matahari Putra Prima Tbk. He also spent 4 years at The Abraaj Group as Director overseeing investments in Southeast Asia and 5 years at Northstar Group – a leading private equity firm focusing on Southeast Asia countries, where he was involved in several transactions in various sectors, including several financial services and consumer-facing businesses. Prior to this, he held various positions at Jardine Group – including Astra International, Jardine Motors Group, Jardine Matheson, and Federal International Finance. Currently, he also serves as Commissioner at PT Matahari Putra Prima Tbk (since 2020), Director at PT Lenox Pasifik Investama Tbk (since July 2022), and President Commissioner at PT Star Pacific Tbk (since July 2022).

He is an Indonesian citizen, aged 43 as of 31 December 2022.

Agus Arismunandar

Chief Business Development & Investor Relations Officer
Agus Arismunandar
Chief Business Development & Investor Relations Officer

He began his career with the Lippo Group in 2006 when he joined PT Matahari Department Store Tbk, wherein he was last posted as Head of Marketing & Promotion. In 2013, he joined the Company as Head of Investor Relations, and in 2019 he was appointed as a member of the Board of Directors of the Company. Currently, he also serves as President Commissioner at PT Lenox Pasifik Investama Tbk (since 2020) and Director at PT Star Pacific Tbk (since July 2022).

He is an Indonesian citizen, aged 57 as of 31 December 2022. He earned a Bachelor of Science degree in Electrical Engineering in 1988 from California State University at Long Beach, USA, and a Master of Business Administration degree in Marketing and IT in 1991 from the University of California at Davis, USA.

Jerry Goei

Chief Operating Officer
Jerry Goei
Chief Operating Officer

Prior to joining the Company as COO in 2020, Jerry Goei served as President Director of Dwi Satrya Utama (DSU) Group since December 2015. Prior to joining DSU Group, he spent four years with Northstar Group, a leading private equity firm in Indonesia until Dec 2015, with the last position as the Managing Director and Head of Operations of Northstar. Before Northstar, he has held several C-level executive positions in several companies, including the Country Director of AkzoNobel Group in Indonesia and at the same time holding the position of President Director and CEO of PT ICI Paints Indonesia (Dulux), which is AkzoNobel largest subsidiary in Indonesia. He spent 12 years in total with ICI/AkzoNobel. He has also worked for Accenture, American Standard, and Sampoerna. Currently he also serves as Commissioner at PT Multi Prima Sejahtera Tbk (since 2020).

He is an Indonesian citizen, aged 53 as of 31 December 2022. He obtained his Bachelor of Science degree in Computer Sciences from the University of Texas at Austin in 1991 and MBA degree from Baylor University in 1992. He also attended executive development programs at IMD (Lausanne – Switzerland) in 2007 and INSEAD (Fontainebleau – France) in 2011.

Dion Leswara

Chief Human Resources Officer
Dion Leswara
Chief Human Resources Officer

Dion Leswara has 25 years of experience and competence in strategic business partnership, organization development and management, remuneration strategy and industrial and labor relations. He started his career in 1996 with Royal Golden Eagle (Raja Garuda Mas Internasional) Group. His career continued at Philip Morris International from October 2002 to September 2015, including 9 years of overseas assignment as Director of Human Resources in various countries in Asia. He then joined Sinarmas Agribusiness and Food as Managing Director of Human Resources until September 2020.

He is an Indonesian citizen, aged 50 years old as of 31 December 2022. He obtained his Bachelor of Science in Business Administration from California State University, Fresno, USA. He also graduated from Human Resources Development Program of Cornell University’s School of Industrial and Labor Relations.

Raditya Pramana

Head of Digital & Partner at Venturra
Raditya Pramana
Head of Digital & Partner at Venturra

Raditya has years of experience in investing and advising technology ventures in Southeast Asia. He is a Partner at Venturra, an early-stage Venture Capital firm that focuses on investing in early-stage high growth startups in Southeast Asia. He started his career as an investment professional at IMJ Investment Partners and was responsible for the Japanese fund’s investment activities in Indonesia.

Raditya was awarded with Forbes Indonesia 30 Under 30 in 2020 and chosen as one of the Young Leaders for Indonesia by McKinsey & Company. Raditya is an Indonesian citizen. He holds an Information Systems Degree from Binus International University.

Audit Committee

David Fernando Audy

Chairman
David Fernando Audy
Chairman

David Fernando Audy was appointed as the Chairman of the Audit Committee on May 31, 2023. He also serves as the Company’s Independent Commissioner upon the decision of the 2022 Annual General Meeting of Shareholders.

He has experience in various positions such as Operating Partner of East Ventures, a sector-agnostic technology venture capital firm, where he oversaw portfolio companies on operations and value creation initiatives. Previously, he was President Director & CEO of PT Media Nusantara Citra Tbk and Director of PT Global Mediacom Tbk (2016-2020) and has 20 years of operational experience in several companies with various sectors such as technology, investment, media, telecommunications, and consumer. Other positions he has held include CEO of InewsTV, CEO of MNC-JCDecaux, CEO of PT Infokom Elektrindo, CEO of GlobalTV, CEO of WeChat Indonesia, CEO of PT MNC Pictures and Founder of Okezone.com. Since 2021 until now, he has served as Independent Commissioner of PT Matahari Department Store Tbk.

He is an Indonesian citizen, aged 44 years old. He earned his Bachelor of Commerce in Finance & Information Systems in 2001 and Master of Commerce in Professional Accounting in 2002, both at the University of New South Wales, Sydney, Australia.

Christine

Independent Member
Christine
Independent Member

She started her career as a Senior Associate Auditor at Public Accountant Ernest & Young-Prasetio, Sarwoko & Sandjaja (November 2002 – August 2004), Senior Manager of Accounting at PT Matahari Putra Prima Tbk (August 2004 – April 2013), Chief Financial Officer at PT Nadya Putra Investama (April 2013 – October 2021).

She is 42 years old, an Indonesian citizen. She holds a Bachelor of Economics degree majoring in Accounting from Tarumanagara University.

Marlin

Independent Member
Marlin
Independent Member

She started her career as Staff of Account Payable, General Ledger, and Payroll of PT Matahari Putra Prima Tbk – Medan Branch from 1993 to 1995, then served as Senior Supervisor at PT Matahari Putra Prima Tbk – Jakarta Head Office from 1996 to 1998. Lastly, she served as Senior Project Specialist and Head of the Budget Department at the Company from 1999 to January 2022.

She is 49 years old, an Indonesian citizen. She obtained her Diploma in Information Management from AMIK Jendral Sudirman Medan in 1994 and a Bachelor of Economics majoring in Accounting from STIE Y.A.I Jakarta in 1995.

Nomination & Remuneration Committee

Alexander S. Rusli

Chairman
Alexander S. Rusli
Chairman

Aside as a Chairman of the Nomination and Remuneration Committee, Alexander S. Rusli concurrently serves as the Company’s Independent Commissioner.

After working as a full-time lecturer in Australia, he returned to Indonesia in 1997 and started his professional career journey in Indonesia at PricewaterhouseCoopers as a Management Consultant focusing on large IT Implementation projects.

As an experienced executive with a strong background in technology, he has held key positions or positions in private companies throughout his career, including CEO at PT Indosat Tbk, Indonesia’s second-largest telecommunications operator, from 2012-2017; Independent Commissioner at PT Sarana Menara Nusantara Tbk (Protelindo), from 2018-2019; Chairman at iFlix Indonesia, from 2018-2020; Commissioner at PT Solusi Sinergi Digital Tbk, since 2019 – Februari 2022; Independent Commissioner at PT Medikaloka Hermina Tbk (Hermina Hospital Group), since 2018-present; Independent Commissioner at PT Unilever Indonesia Tbk, since 2018-present; Independent Commissioner at PT Link Net Tbk, since 2020-present; Independent Commissioner at PT Cisarua Mountain Dairy Tbk, since 2021-present.

He has also held several positions in government, namely as Expert Staff at the Ministry of Communication and Information Technology, from 2001 – 2007; Expert Staff at the Ministry of SOEs, from 2007 to 2009; Expert Staff to the Minister of Finance of the Republic of Indonesia for the National Tax System, from 2019 to the present; and Advisor for Crescent Point for Indonesia, from 2019 to the present. From 2007 to 2009, he held the following posts in several State-Owned Enterprises: Commissioner at PT Krakatau Steel Tbk; President Commissioner at PT Geodipa Energi; and Commissioner at PT Kertas Kraft Aceh.

Additionally, he is also the founder of PT Digi Asia Bios, a consolidated Fintech holding company that offers digital payment, credit, and remittance financial services in Indonesia. He also has a Joint Venture with Tempo Digital Media which focuses on animation for Indonesian IP characters.

He is actively involved in growing and incubating digital businesses by investing in early-stage startups and serving on their boards of directors or as an active advisor. Apart from investing, he advises other firms that are experimenting with innovative business models, such as IRMA, GrosirOne, Surge, Doogether, etc.

He is an Indonesian citizen, 51 years old as of December 31, 2022. He holds several degrees as a Bachelor of Business, Information System in 1992, a Bachelor of Commerce (Hons), Information System in 1993 and a Doctor of Philosophy (Ph.D.), Information Systems in 2000, the three degrees were obtained from the Curtin University of Technology, Perth, Australia.

Bunjamin J. Mailool

Member
Bunjamin J. Mailool
Member

Bunjamin J. Mailool began his membership in the Nomination and Remuneration Committee since 2015. He also serves as the Company’s President Commissioner.

He began and built his professional career with Citibank NA Jakarta in 1989, and his last post was as Vice President in 1997. In March 1997, he joined the Lippo Group at PT Bukit Sentul Tbk, where he served as CEO until 2001. He commenced his services as President Director for PT Matahari Putra Prima Tbk in 2002 until 2018, and PT Matahari Department Store Tbk since 2009. He served as President Director of the Company from 2014 until 2015, wherein he accepted his appointment as member of the Nomination and Remuneration Committee from 2015 to this day, while concurrently serving as President Commissioner.

He is an Indonesian citizen, aged 59 as of 31 December 2022. He obtained his MBA from Oklahoma State University and BSc from California State University of Fresno, USA.

Tati Hartawan

Member
Tati Hartawan
Member

Tati Hartawan started her career at Citibank Indonesia with her last position as Global Consumer Business Human Resources Head, Senior Vice President (1989 – 2013). Then, she served as Human Capital Director at Bank Mega (2013 – 2016). She joined Lippo Group in 2016, currently serving as Chief Human Resources in PT Multipolar Tbk.

She is an Indonesian citizen and aged 56 as of 31 December 2022. She holds a Bachelor of Science Degree in Accounting from San Francisco State University, United States of America (1988).

Bagus Purboyo

Member
Bagus Purboyo
Member

Bagus Purboyo started his career in Human Resources at PT Voksel Electric Tbk (1990-1994). After that, he served as General Manager for Human Resources Department at PT Bukit Sentul Tbk (1994-2004), General Manager of Human Resources Department at PT Matahari Putra Prima Tbk (2004-2013), and member of Nomination and Remuneration Committee of PT Matahari Putra Prima Tbk (2015-2019). Currently, he also holds position as Commissioner of PT Surya Cipta Investama (2014-present).

He is an Indonesian citizen, aged 60 as of 31 December 2022. In 1986, he graduated from the Pembangunan Nasional University, Surabaya with a Bachelor of Science degree in Agronomy. He also attended the Widyawiyata Management Program at IPPM.

Good Corporate Governance
Governance Guidelines

In order to improve the implementation of good corporate governance principles associated with roles and responsibilities of the Company’s Board of Commissioners and Board of Directors, Board of Commissioners and Board of Directors are required to set guidelines that bind each member of Board of Commissioners and Board of Directors. The improvement in good corporate governance’s implementation will bring positive impacts to the Company and increase investors’ confidence to the Company.

Charter of the Board of Commissioners (EN)
Charter of the Board of Commissioners (ID)
Charter of the Board of Directors (EN)
Charter of the Board of Directors (ID)
Audit Committee

Audit Committee is a committee under the Board of Commissioners which was established to assist the Board of Commissioners in fulfilling their supervisory duties in terms of methodology and process of financial reporting, risk management, audit and compliance with prevailing laws and regulations. The Audit Committee will carry out its functions, duties and responsibilities according to OJK Regulation No.55/POJK.04/2015 dated December 29, 2015 concerning Establishment and Guidelines for the Implementation of Audit Committee Duty (POJK 55/2015).

AUDIT COMMITTEE CHARTER
The Audit Committee has a Charter or Guidelines that regulates structure, membership requirements, duties and responsibilities, authorities, meeting implementation, reporting, and the term of office of the Audit Committee. The Audit Committee Charter has been uploaded on the Company’s website and is reviewed periodically to comply with prevailing regulations.

The membership, composition, and independence of the Audit Committee members have complied with OJK regulations, namely POJK 55/2015 and the Audit Committee Charter. The Audit Committee Charter stipulates that the term of office of the Audit Committee is the same as the term of office of the Board of Commissioners. The Board of Commissioners has appointed members of the Audit Committee for the term of office commencing on May 31, 2023 until the closing of the Annual General Meeting of Shareholders for the fiscal year 2025 which will be held in 2026. The composition of the Company’s Audit Committee currently consists of 1 (one) Chairman who is an Independent Commissioner and 2 (two) members who are not members of the Board of Commissioners and are Independent Parties with competence and qualifications in the financial field.

In the Decree of the Board of Commissioners (SK Dekom) No. CSS.059-2023 dated May 31, 2023, the composition of the Company’s Audit Committee is as follows:

  • Chairman: David Fernando Audy
  • Members:
    • Christine
    • Marlin

INDEPENDENCY OF THE AUDIT COMMITTEE
To ensure independence and professionalism in carrying out the duties and responsibilities of the Audit Committee, Independent Commissioner leads the Audit Committee with 2 (two) members from external party of the Company, one of whom is an expert in accounting and finance.

Members of the Audit Committee are not affiliated nor employed by the public accountants, consulting firms, or third parties who provided services to the Company within the last 6 (six) months. Members of the Audit Committee are not people who work or have the authority and responsibility to plan, lead, control or supervise the activities of the Company within the last 6 (six) months, except for Independent Commissioners. The Audit Committee members also do not have any direct or indirect shares ownership in the Company, and not having any family relationships or affiliations with the Board of Commissioners or Board of Directors members, shareholders or controlling parties that may affect their duty performance.

DUTY AND RESPONSIBILITY
As stipulated in the Audit Committee Charter, the Audit Committee has duties and responsibilities to supervise several activities, among others:

  1. Provide oversight including financial, risk management and internal audit activities as well as compliance and legal in the Company.
  2. Provide independent opinion regarding dissenting opinion between management and the Accountants for their services;
  3. Review implementation of audit done by the Internal Auditor and supervise implementation of follow-up actions by the Board of Directors on the internal auditors’ findings;
  4. Examine complaints related to the Company’s accounting and financial reporting processes; and
  5. Review and provide advice to the Board of Commissioners regarding potential conflict of interest within the Company.

AUDIT COMMITTEE MEETING
The Audit Committee is required to arrange a meeting at least 1 (one) time in 3 (three) months. Audit Committee meetings are considered valid and binding if attended by more than ½ (half) of the number of Committee members. Decisions are taken based on deliberation and consensus. The Minutes of Meeting archives and records every discussion and decision, including any dissenting opinion. All of the attending Audit Committee members shall sign the Minutes of Meeting which are further submitted to the Board of Commissioners.

In the fiscal year 2022, the Audit Committee held 4 (four) regular meetings.

2022 DUTY AND RESPONSIBILITY IMPLEMENTATION REPORT

The Audit Committee has carried out duties and responsibilities in 2022, including:

  1. Audited and reviewed the Company’s financial information published to public and/or authorities, including financial statements and other reports related to the Company’s financial information;
  2. Evaluated and reviewed the Company’s activities and compliance with prevailing laws and regulations;
  3. Provided independent opinion for any dissenting opinion between the management and the appointed accountant regarding their services;
  4. Reviewed and provided recommendations regarding appointment of accountant based on independence, scope of work and remuneration;
  5. Evaluated and reviewed Internal Auditor’s reports and oversight implementation of follow-up actions by the Board of Directors on audit findings;
  6. Reviewed implementation of Risk Management activities carried out by the Board of Directors;
  7. Reviewed and provided advice to the Board of Commissioners regarding potential conflicts of interest;
  8. Reviewed complaints related to the Company’s accounting and financial reports; and
  9. Maintained confidentiality of documents, data and other corporate information.

David Fernando Audy

Chairman
David Fernando Audy
Chairman

David Fernando Audy was appointed as the Chairman of the Audit Committee on May 31, 2023. He also serves as the Company’s Independent Commissioner upon the decision of the 2022 Annual General Meeting of Shareholders.

He has experience in various positions such as Operating Partner of East Ventures, a sector-agnostic technology venture capital firm, where he oversaw portfolio companies on operations and value creation initiatives. Previously, he was President Director & CEO of PT Media Nusantara Citra Tbk and Director of PT Global Mediacom Tbk (2016-2020) and has 20 years of operational experience in several companies with various sectors such as technology, investment, media, telecommunications, and consumer. Other positions he has held include CEO of InewsTV, CEO of MNC-JCDecaux, CEO of PT Infokom Elektrindo, CEO of GlobalTV, CEO of WeChat Indonesia, CEO of PT MNC Pictures and Founder of Okezone.com. Since 2021 until now, he has served as Independent Commissioner of PT Matahari Department Store Tbk.

He is an Indonesian citizen, aged 44 years old. He earned his Bachelor of Commerce in Finance & Information Systems in 2001 and Master of Commerce in Professional Accounting in 2002, both at the University of New South Wales, Sydney, Australia.

Christine

Independent Member
Christine
Independent Member

She started her career as a Senior Associate Auditor at Public Accountant Ernest & Young-Prasetio, Sarwoko & Sandjaja (November 2002 – August 2004), Senior Manager of Accounting at PT Matahari Putra Prima Tbk (August 2004 – April 2013), Chief Financial Officer at PT Nadya Putra Investama (April 2013 – October 2021).

She is 42 years old, an Indonesian citizen. She holds a Bachelor of Economics degree majoring in Accounting from Tarumanagara University.

Marlin

Independent Member
Marlin
Independent Member

She started her career as Staff of Account Payable, General Ledger, and Payroll of PT Matahari Putra Prima Tbk – Medan Branch from 1993 to 1995, then served as Senior Supervisor at PT Matahari Putra Prima Tbk – Jakarta Head Office from 1996 to 1998. Lastly, she served as Senior Project Specialist and Head of the Budget Department at the Company from 1999 to January 2022.

She is 49 years old, an Indonesian citizen. She obtained her Diploma in Information Management from AMIK Jendral Sudirman Medan in 1994 and a Bachelor of Economics majoring in Accounting from STIE Y.A.I Jakarta in 1995.

Audit Committee Charter (EN)
Audit Committee Charter (ID)
Nomination & Remuneration Committee

To ensure good corporate governance (GCG) and to increase transparency in the nomination and remuneration process, the Company complies with OJK Regulation No. 34/POJK.04/2014 dated December 8, 2014 regarding the Nomination and Remuneration Committee for Issuers or Public Companies (“POJK 34/2014”). The Board of Commissioners formed the Nomination and Remuneration Committee in accordance with OJK regulations to support the improvement of the Board of Commissioners’ and Board of Directors’ quality, competence, and responsibilities.

NOMINATION AND REMUNERATION COMMITTEE COMPOSITION

The Company’s Nomination and Remuneration Committee is composed of 3 (three) members in accordance with applicable regulations and includes the following provisions:

  1. One chairman of a committee who also serves as an Independent Commissioner;
  2. Other members can be appointed from:
    • Members of the Board of Commissioners;
    • Parties from outside the Company; or
    • A party with a managerial position under the Board of Directors who is responsible for human resources, but who does not constitute a majority of the committee’s members.

The Board of Commissioners determined the appointment of Nomination and Remuneration Committee members with Board of Commissioners Decree No. CSS.059-2023 dated May 31, 2023, with the following composition:

  • Chairman: Alexander S. Rusli
  • Members:
    • Bunjamin J. Mailool
    • Tati Hartawan
    • Bagus Purboyo

NOMINATION AND REMUNERATION COMMITTEE INDEPENDENCY

Each member of the Nomination and Remuneration Committee is obligated to adhere to the Company’s Code of Ethics in performing their duties and responsibilities in good faith, responsible, and prudent manner. Members of the committee also work within the corridors defined by applicable laws and regulations, as well as the highest and most independent standards of integrity.

DUTIES, RESPONSIBILITIES, AND ACTIVITIES OF THE NOMINATION AND REMUNERATION COMMITTEE

In performing its duties and responsibilities, the Nomination and Remuneration Committee followed the procedures of the Company’s Nomination and Remuneration Committee Charter and conducted several activities including:

I. NOMINATION FUNCTION

  1. Advised and provided recommendations to the Board of Commissioners on:
    • composition of the Boards of Commissioners and Board of Directors;
    • policies and criteria on the nomination of members for the Boards of Commissioners and Board of Directors;
    • performance evaluation policies for members of the Boards of Commissioners and Board of Directors;
  2. Assisted the Board of Commissioners in assessing the performance of the respective members of the Boards of Commissioners and Board of Directors based on established evaluation benchmarks;
  3. Proposed recommendation to the Board of Directors regarding development programs for the Board of Commissioners and Board of Directors;
  4. Proposed eligible candidates for the Boards of Commissioners and Board of Directors to be submitted to the GMS.

II. REMUNERATION FUNCTION

  1. Advised and provided recommendations to the Board of Commissioners on:
    • Remuneration structures;
    • Remuneration policies; and
    • Amount of the remuneration.
  2. Assisted the Board of Commissioners in assessing the merits of the remuneration scheme provided to each member of the Boards of Commissioners and Board of Directors.

REMUNERATION POLICY FOR THE BOARD OF COMMISSIONERS AND BOARD OF DIRECTORS MEMBERS

As stipulated in POJK No. 34/2014 that the Nomination and Remuneration Committee advises on salaries and other benefits for the Board of Commissioners and Directors’ members where the remuneration system is defined on the basis of a formula based on performance-oriented, market competitiveness and alignment of the Company’s financial capacity.

The Board of Commissioners submits for approval at the GMS the salaries and other benefits of members of the Company’s Board of Commissioners. The Board of Commissioners determines the amount of salary and other benefits paid to members of the Board of Directors based on authority delegated by the GMS.

POLICY AND IMPLEMENTATION OF THE NOMINATION AND REMUNERATION COMMITTEE MEETINGS’ ATTENDANCE RATE AND FREQUENCY

The Nomination and Remuneration Committee is mandated to hold regular meetings, with at least 1 (one) meeting per 3 (three) months. The meeting is led by the Chairman of the Committee. A Committee’s meeting may take place if attended by:

  • Chairman of the Committee; and
  • The majority of the Committee’s members.

Decisions at the Nomination and Remuneration Committee meetings are based on deliberation and consensus. If there is no consensus, major decisions will be decided upon by a majority of votes. All decisions, including disputes, must be recorded in the Minutes of Meeting and must be signed by each attendee and must be submitted in a written report to the Board of Commissioners.

Alexander S. Rusli

Chairman
Alexander S. Rusli
Chairman

Aside as a Chairman of the Nomination and Remuneration Committee, Alexander S. Rusli concurrently serves as the Company’s Independent Commissioner.

After working as a full-time lecturer in Australia, he returned to Indonesia in 1997 and started his professional career journey in Indonesia at PricewaterhouseCoopers as a Management Consultant focusing on large IT Implementation projects.

As an experienced executive with a strong background in technology, he has held key positions or positions in private companies throughout his career, including CEO at PT Indosat Tbk, Indonesia’s second-largest telecommunications operator, from 2012-2017; Independent Commissioner at PT Sarana Menara Nusantara Tbk (Protelindo), from 2018-2019; Chairman at iFlix Indonesia, from 2018-2020; Commissioner at PT Solusi Sinergi Digital Tbk, since 2019 – Februari 2022; Independent Commissioner at PT Medikaloka Hermina Tbk (Hermina Hospital Group), since 2018-present; Independent Commissioner at PT Unilever Indonesia Tbk, since 2018-present; Independent Commissioner at PT Link Net Tbk, since 2020-present; Independent Commissioner at PT Cisarua Mountain Dairy Tbk, since 2021-present.

He has also held several positions in government, namely as Expert Staff at the Ministry of Communication and Information Technology, from 2001 – 2007; Expert Staff at the Ministry of SOEs, from 2007 to 2009; Expert Staff to the Minister of Finance of the Republic of Indonesia for the National Tax System, from 2019 to the present; and Advisor for Crescent Point for Indonesia, from 2019 to the present. From 2007 to 2009, he held the following posts in several State-Owned Enterprises: Commissioner at PT Krakatau Steel Tbk; President Commissioner at PT Geodipa Energi; and Commissioner at PT Kertas Kraft Aceh.

Additionally, he is also the founder of PT Digi Asia Bios, a consolidated Fintech holding company that offers digital payment, credit, and remittance financial services in Indonesia. He also has a Joint Venture with Tempo Digital Media which focuses on animation for Indonesian IP characters.

He is actively involved in growing and incubating digital businesses by investing in early-stage startups and serving on their boards of directors or as an active advisor. Apart from investing, he advises other firms that are experimenting with innovative business models, such as IRMA, GrosirOne, Surge, Doogether, etc.

He is an Indonesian citizen, 51 years old as of December 31, 2022. He holds several degrees as a Bachelor of Business, Information System in 1992, a Bachelor of Commerce (Hons), Information System in 1993 and a Doctor of Philosophy (Ph.D.), Information Systems in 2000, the three degrees were obtained from the Curtin University of Technology, Perth, Australia.

Bunjamin J. Mailool

Member
Bunjamin J. Mailool
Member

Bunjamin J. Mailool began his membership in the Nomination and Remuneration Committee since 2015. He also serves as the Company’s President Commissioner.

He began and built his professional career with Citibank NA Jakarta in 1989, and his last post was as Vice President in 1997. In March 1997, he joined the Lippo Group at PT Bukit Sentul Tbk, where he served as CEO until 2001. He commenced his services as President Director for PT Matahari Putra Prima Tbk in 2002 until 2018, and PT Matahari Department Store Tbk since 2009. He served as President Director of the Company from 2014 until 2015, wherein he accepted his appointment as member of the Nomination and Remuneration Committee from 2015 to this day, while concurrently serving as President Commissioner.

He is an Indonesian citizen, aged 59 as of 31 December 2022. He obtained his MBA from Oklahoma State University and BSc from California State University of Fresno, USA.

Tati Hartawan

Member
Tati Hartawan
Member

Tati Hartawan started her career at Citibank Indonesia with her last position as Global Consumer Business Human Resources Head, Senior Vice President (1989 – 2013). Then, she served as Human Capital Director at Bank Mega (2013 – 2016). She joined Lippo Group in 2016, currently serving as Chief Human Resources in PT Multipolar Tbk.

She is an Indonesian citizen and aged 56 as of 31 December 2022. She holds a Bachelor of Science Degree in Accounting from San Francisco State University, United States of America (1988).

Bagus Purboyo

Member
Bagus Purboyo
Member

Bagus Purboyo started his career in Human Resources at PT Voksel Electric Tbk (1990-1994). After that, he served as General Manager for Human Resources Department at PT Bukit Sentul Tbk (1994-2004), General Manager of Human Resources Department at PT Matahari Putra Prima Tbk (2004-2013), and member of Nomination and Remuneration Committee of PT Matahari Putra Prima Tbk (2015-2019). Currently, he also holds position as Commissioner of PT Surya Cipta Investama (2014-present).

He is an Indonesian citizen, aged 60 as of 31 December 2022. In 1986, he graduated from the Pembangunan Nasional University, Surabaya with a Bachelor of Science degree in Agronomy. He also attended the Widyawiyata Management Program at IPPM.

Nomination & Remuneration Committee Charter

Corporate Secretary

Corporate Secretary serves as a liaison officer in facilitating effective communication with Shareholders and regulators as well as other stakeholders, including investors. The Corporate Secretary is a Company’s Organ with duty to assist the Board of Commissioners and Board of Directors in ensuring compliance with prevailing laws and regulations as well as Corporate Governance rules and principles.

DUTIES, RESPONSIBILITIES AND ACTIVITIES OF THE CORPORATE SECRETARY IN 2022
As a liaison between the Company and Stakeholders, the Corporate Secretary has a role to build and uphold trust and confidence of Shareholders and stakeholders in the Company. In addition to monitoring and implementing the Company’s strict compliance with the prevailing laws, regulations and standards, in 2022, the Corporate Secretary has performed several duties and responsibilities, as follows:

  1. Follow trends of capital market developments, including capital market regulations and guidelines related to Limited Liability Companies and Article of Association;
  2. Advise the Board of Commissioners and Directors and provide recommendations to ensure compliance with capital market laws and regulations;
  3. Assist the Board of Commissioners and Directors in the Good Corporate Governance implementation, particularly in:
    • Disclosure of public information and its availability on the Company’s website;
    • Submission of reports to the Financial Services Authority (OJK) and the Indonesian Stock Exchange (BEI) as stipulated in the OJK and BEI Regulations;
    • Organization and documentation of the Annual General Meeting of Shareholders (AGMS) for Fiscal Year 2021, which was physically held on May 23, 2022 at Menara Matahari, 20th Floor, Boulevar Palem Raya Lippo Village 1200, Tangerang 15811 and electronically through the Electronic General Meeting System eASY.KSEI application provided by PT Kustodian Sentral Efek Indonesia; and
    • Organization and documentation of the Board of Commissioners and Directors’ meeting and their joint meetings respectively.
  4. Serve as the Company’s primary source of information for shareholders, OJK, and other stakeholders, in particular by:
    • Provide information and explanations for the OJK regulations issued in 2022;
    • Held an Annual Public Expose on May 25, 2022 which was held electronically/via webinar through the Zoom Meeting application;
    • Disclosing all material information that occurred during 2022 to the public; and
    • Manage the administrative registration for shareholders list and special registries in cooperation with the appointed Securities Registrar.

Natalie Lie

Corporate Secretary
Natalie Lie
Corporate Secretary

Based on the Board of Directors’ Decision Letter No. CSS.068-2020 dated 20 July 2020, Natalie Lie served as the Corporate Secretary.

She started her career in Lippo Group in 2009 when she joined the Times Bookstore. In 2011 she joined PT Matahari Putra Prima Tbk’s Corporate Legal & Corporate Services, then since 2013 joined PT Multipolar Tbk’s Corporate Legal & Corporate Services.

She obtained a double degree in Executive Master of Business Administration from University Pelita Harapan and Peking University in 2015 and a Bachelor of Science (Hons) in Business Information System from the University of Derby.

She is an Indonesian citizen, domiciled in Tangerang – Indonesia, 41 years old as of December 31, 2022.

Appointment of Corporate Secretary
Internal Audit

The Internal Audit Unit is a work unit within the Company that performs audits and gives independent, objective, and professional advice.

The establishment of the Internal Audit Unit refers to Bapepam-LK Regulation No. IX.1.7, attachment of the Decree of the Chairman of Bapepam-LK No. Kep-496/BL/2008 dated November 28, 2008, regarding the Establishment and Guidelines for Drafting an Internal Audit Charter (Bapepam-LK Regulation No. IX.1.7). This regulation was later revoked to OJK Regulation No. 56/POJK.04/2015 dated December 29, 2015 (POJK No. 56/2015). The Company’s Internal Audit Unit always complies with POJK No. 56/2015.

Internal Audit Unit’s Charter

The Internal Audit Unit Charter has been approved by the President Director and the Audit Committee Chairman. This charter discloses guidelines, which include:

  • Structure and position;
  • Duties and responsibilities;
  • Authority;
  • Code of Ethics;
  • Membership requirements;
  • Accountability;
  • Independency;
  • Stipulation and renewal of the charter.

Internal Audit Unit’s Structure and Position

Referring to POJK No. 56/2015 and the Company’s Internal Audit Charter, the Internal Audit Unit shall consist of at least 1 (one) Internal Auditor. The size and level of complexity of the Company’s business activities determine the number of internal auditors required. The Head of the Internal Audit Unit, who reports directly to the President Director, may be appointed and dismissed by the President Director with approval from the Board of Commissioners.

The letter of appointment dated January 4, 2022 signed by the President Director and President Commissioner appointed Rudy Sugianto as the Head of Internal Audit Unit.

Internal Audit Organization Structure

Head of Internal Audit Unit: Rudy Sugianto

Internal Audit Unit Member: Amy Benita

Duty and Responsibility

The Internal Audit Unit conducts periodic evaluations of the Company’s risk management system, internal control, and Good Corporate Governance (GCG) processes through various activities and discussions. This assessment attempts to strengthen the company’s values and operational performance.

The Internal Audit Unit’s duties and responsibilities with respect to the Internal Audit Charter and its implementation during the 2022 fiscal year are as follows:

  • Prepare and execute its annual internal audit work plans;
  • Assess and evaluate the internal control and risk management system pursuant to the Company’s policies;
  • Conduct audit and assessment as to efficiency and effectiveness in financial, accounting, operation, human resources, marketing, information technology and other activities;
  • Provide corrective recommendations and objective information on audited activities within all management levels;
  • Prepare reports on the result of the audit and submit them to President Director;
  • Monitor, analyze, and report the implementation of recommended improvements;
  • Work with Audit Committee and other governance functions such as External Audit, Risk Management, Project Management Office and Quality Management;
  • Prepare a program to evaluate the quality of the activities carried out by Internal Audit; and
  • Conduct a special audit, if necessary, as approved by President Director.

Internal Audit Unit’s Code of Ethics

The Internal Audit Unit strictly conforms to the Company’s and Internal Audit Unit’s code of conduct when performing its duties and responsibilities.

The Internal Audit Charter establishes the Internal Audit Unit’s code of ethics, which includes the following:

  1. Integrity
    • Work honestly, diligently, and responsibly;
    • Obey the law and make any disclosure that is required by legal and professional rules;
    • Not involved in any illegal activities, or in any actions humiliating the Internal Audit profession or the Company;
    • Respect and contribute to the ethical objective of the Company.
  2. Objectivity
    • Not participating in any activities or relationships that may disturb, or be deemed to disturb unbiased judgment. This includes activities or relationships which are probably against the organization’s interests. 
    • Not accept anything that could interfere with, or be perceived as interfering with, professionalism in providing assessments
    • Disclose all known material facts;
  3. Confidentiality
    • Exercise appropriate care in the use and keeping of the information obtained during the service.
    • Not use any information for personal gain or in any manner which are against the provisions of laws and regulations or detrimental to the ethical objective of the Company.
  4. Competency
    • Provide services in accordance with the required knowledge, skills, and experience.
    • Perform audit based on The International Standards for the Professional Practice of Internal Auditing.
    • Consistently improve competency and effectiveness as well as the quality of the audit.

Internal Audit Certification

The Company has implemented appropriate accreditation for all members involved in the audit activities for the Company’s activities.

One of the professional certification fulfillment for the audit officers includes the participation of the Head of Internal Audit Unit in Certified Internal Auditor (CIA) training held by the Center for Accounting Development, Faculty of Economics and Business, University of Indonesia (PPA FEB UI).

Internal Audit Duty Implementation Report in 2022

Throughout 2022, the Internal Audit Unit has conducted audits in the Company and each company under the Company’s portfolio with the series of activities as follows:

  • Develop and implement annual internal audit plan;
  • Analyze and evaluate implementation of internal control and risk management systems in accordance with the policies set by the Company;
  • Conduct testing and assessment of efficiency and effectiveness related to finance, accounting, operations, human resources, marketing, information technology and other activities;
  • Provide recommendations for improvement and objective information about the audited activities at all management levels;
  • Prepare and submit audit reports to the President Director and the Board of Commissioners;
  • Monitor, analyze, and report on the implementation of recommended follow-up improvements;
  • Cooperate and communicate directly with the Audit Committee;
  • Develop a program to evaluate quality of ongoing internal audit activities.

Audit Result

The Internal Audit Unit has evaluated effectiveness of the Company’s Internal Control System, Risk Management and Corporate Governance processes implementation as well as assessed the efficiency and effectiveness of all the Company’s activities in finance, accounting, operations, human resources, information technology and other activities. The audit report has been submitted to the President Director and the Audit Committee. The audit report is used as a recommendation and reference in the follow-up implementation.

Rudy Sugianto

Head of Internal Audit Unit
Rudy Sugianto
Head of Internal Audit Unit

Rudy Sugianto began his career at Pricewaterhouse Coopers as Senior Associates-Audit in 2003-2005. Next, he joined PT Axis Telekom Indonesia as Revenue Assurance Manager (2005-2011). His knowledge and experience in finance and audit were sharpened from his involvement in several companies, such as PT Rajawali Corpora as Internal Audit Manager (2011-2013), PT Multipolar Technology Tbk as Head of the Accounting, Tax, Operations Support Division (2013-2018) and most recently as Head of the Accounting and Finance Division (2019 – November 2021). Currently, he is serving as Head of Internal Audit Unit at PT Multipolar Tbk (since January 2022) and Head of Internal Audit Unit at PT Multipolar Technology Tbk (since May 2022).

He is an Indonesian citizen and 42 years old as of December 31, 2022. He earned his Bachelor of Accounting degree from the University of Indonesia in 2002.

Internal Audit Charter
Disclosures of Affiliations

Disclosures of Affiliations Between Members of the Board of Commissioners, Board of Directors and Majority Shareholders and/or Controlling Shareholders

Name Company Majority Shareholders and/or Controlling Shareholders
Board of Commissioners Board of Directors Board of Commissioners Board of Directors
Bunjamin J. Mailool v   v  
Alexander S. Rusli v      
Hadi Cahyadi v      
Jeffrey K. Wonsono v      
Henry J. Liando v      
Adrian Suherman   v    
Agus Arismunandar   v    
Fendi Santoso   v    
Jerry Goei   v    

Articles of Association
2018 Articles of Association (EN)
2018 Articles of Association (ID)
Stock Information
Historical Lookup

Stock Performance

Description 2022 2021 2020
Issued Shares
(thousand shares)
15,682,323 14,639,632 14,639,632
Weighted
Average Number
of Shares
(thousand shares)
15,682,323 14,639,632 14,639,632
Book Value per Share (Rp) 288 309 271


Stock Highlights

Quarterly Stock Price Quarter 1 Quarter 2 Quarter 3 Quarter 4
2022
Highest (Rp)

376

246

183

138

Lowest (Rp)

179

150

128

111

Closing (Rp)

240

156

131

112

Volume (Shares)

14,479,797,200

2,852,545,300

2,241,291,200

4,135,619,700

Market Capitalization (Rp)

3,697,018,327,680

2,446,442,541,972

2,054,384,442,297

1,756,420,286,544

2021
Highest (Rp) 120 810 770 580
Lowest (Rp) 57 103 380 320
Closing (Rp) 105 685 570 370
Volume (Shares) 3,885,360,000 23,442,665,100 11,744,448,400 19,485,480,100
Market Capitalization (Rp) 1,537,161,409,350 10,028,148,241,950 8,344,590,507,900 5,416,664,013,900


History of Shares Registration on the Indonesia Stock Exchange

Corporate
Action
Registration
Date
Total
Additional
Shares (Shares)
Total
Outstanding
Shares After
Transaction
Nominal Value
per share (Rp)
Initial Public Offering 6-Nov-89 3,428,000 3,428,000 1,000
Stock Listing 16-Jul-90 8,000,000 11,428,000 1,000
Bonus Shares (1:2) 9-Nov-92 22,856,000 34,284,000 1,000
Right Issue with
Preemptive Rights I
(1:3 @Rp1,000)
12-Jul-96 102,852,000 137,136,000 1,000
Stock Split 1-Apr-97 137,136,000 274,272,000 500
Right Issue with
Preemptive Rights II
(10:55 @Rp500)
14-Jul-97 1,508,496,000 1,782,768,000 500
Limited Rights Issue 27-Jul-00 89,000,000 1,871,768,000 500
Right Issue with
Preemptive Rights III
(4:5 @Rp125)
24-Jun-05 2,339,710,000
B Class Share
1,871,768,000
A Class Share
A Class
@Rp500
2,339,710,000
B Class Share
B Class
@Rp125
Right Issue with
Preemptive Rights IV
(18:11 @Rp125)
8-Dec-06 2,573,681,000
B Class Share
1,871,768,000
A Class Share
A Class
@Rp500
4,913,391,000
B Class Share
B Class
@Rp125

Reverse Stock (4:1)

12-Apr-10   467,942,000
A Class Share
A Class
@Rp2,000
1,228,347,890
B Class Share
B Class
@Rp500
Right Issue with
Preemptive Rights V
(9:32 @Rp125)
14-Apr-10 6,031,252,940
C Class Share
467,942,000
A Class Share
A Class
@Rp2,000
1,228,347,890
B Class Share
B Class
@Rp500
6,031,252,940
C Class Share
C Class
@Rp100
Warrant Issue 14-Dec-10
until
12-Apr-13
2,337,204,493
C Class Share
467,942,000
A Class Share
A Class
@Rp2,000
1,228,347,890
B Class Share
B Class
@Rp500
8,368,457,433
C Class Share
C Class
@Rp100
Right Issue with
Preemptive Rights VI
(11:5 @Rp110)
12-Jul-18 4,574,885,147
C Class Share
467,942,000
A Class Share
A Class
@Rp2,000
1,228,347,890
B Class Share
B Class
@Rp500
12,943,342,580
C Class Share
C Class
@Rp100
Right Issue with
Preemptive Rights VII
(51:7 @Rp500)
31-Mar-22 1,042,691,517
C Class Share
467,942,000
A Class Share
A Class
@Rp2,000
1,228,347,890
B Class Share
B Class
@Rp500
13,986,034,097
C Class Share
C Class
@Rp100
Shareholder Composition

As of March 31, 2024

The ultimate parent of PT Multipolar Tbk is PT Inti Anugerah Pratama, owned by Riady Family.

Dividend

Dividend Policy

Net Profit After Tax Percentage of Cash Dividend to Net Profit after Tax
Up to Rp100 billion 10-15%
More than Rp100 billion 15-25%

Pursuant to the respective Articles of Association and the laws and regulations in Indonesia, the payment/distribution of dividends is approved by the shareholders through the General Meeting of Shareholders on the Board of Directors’ recommendation. Payment/distribution of dividends take into account the Company and its subsidiaries’ financial position without prejudice to the rights of the Company’s General Meeting of Shareholders.

History of Dividend Payouts

Date Issued Period
(Fiscal Year)
AGMS Date

Dividend (Rp)

Number of Shares

Dividend Amount Paid (Rp)
2020 19 Jul 21 14,639,632,470
2021 23 May 22 15,682,323,987
2022 8 May 23 15,682,323,987

Financial Highlights
Financial Information
Financial Highlights

In million Rupiah, unless otherwise stated

Description

2022

2021

2020

2019

2018

Consolidated Statements of Financial Position

Total Assets

12,843,887

14,760,983

15,682,406

15,283,901

17,548,120

Total Liabilities

8,357,202

10,232,542

11,719,043

9,665,922

10,934,580

Total Equity

4,486,685

4,528,441

3,963,363

5,617,979

6,613,540

Consolidated Statements of Profit or Loss and Other Comprehensive Income

Net Sales

10,859,410 10,310,153 10,277,387 12,322,341 14,982,244

Gross Profit

1,914,628 1,854,336 2,027,436 2,437,177 2,810,248

Profit (loss) for the year

(60,666) 25,990 (989,536) (1,041,543) (1,620,165)

Profit (loss) for the year attributable to :

         
  •  Owners of the Parent

151,227 201,258 (793,095) (866,094) (1,221,769)
  • Non-Controlling Interest

(211,893) (175,268) (196,441) (175,449) (398,396)

Comprehensive Income (Loss) for the year

(344,366) (149,059) (981,578) (1,010,307) (1,504,573)

Total Comprehensive Income (Loss) Attributable to :

         
  • Owners of the Parent

(138,510)

11,536

(832,440)

(855,705)

(1,142,555)

  • Non-Controlling Interest

(205,856)

(160,595)

(149,138)

 (154,602)

(362,018)

The number of weighted average issued and fully paid shares (thousand shares)

15,682,323

14,639,632

14,639,632

14,639,632

12,352,190

Basic Earnings (Losses) per Share (in full Rupiah)

10

14

(54)

(59)

(99)

Financial Ratio

Description

2022

2021

2020

2019

2018

Return on Assets (%) -0.5% 0.2% -6.3% -6.8% -9.4%
Return on Equity (%) -1.4% 0.6% -25.0% -18.5% -25.9%
Net Profit Margin (%) -0.6% 0.3% -9.6% -8.5% -10.8%
Current Ratio (x) 1.0 1.1 0.8 1.0 1.2
Liabilities on Equity Ratio (x) 1.9 2.3 3.0 1.7 1.7
Liabilities on Assets Ratio (x) 0.7 0.7 0.7 0.6 0.6

Investor Materials
Presentation
2023
MPC Update FY23
2022
MPC Update FY22
2021
MPC Update FY21
2020
MPC Update FY20
2019
MPC Update FY19
2018
MPC Update FY18
Prospectus
Abridged Prospectus PUT VII MLPL

Abridged Prospectus PUT VII MLPL

Abridged Prospectus PUT VI MLPL (Additional Information)

Abridged Prospectus PUT VI MLPL

General Meeting of Shareholders
Filter by Year
All
All
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2024
Notification to the Shareholders (AGMS)
Download

2023
Notification to the Shareholders (AGMS)
Download
AGMS Invitation
Download
Power of Attorney
Download
Agenda & Rules of AGMS
Download
CV of BOC Candidate
Download
Notification of AGMS Results
Download

2022
Notification to the Shareholders (AGMS)
Download
AGMS Invitation
Download
Agenda & Rules of AGMS
Download
Explanation on the Agenda of AGMS
Download
Power of Attorney
Download
Notification of AGMS Results
Download

2021
Notification to the Shareholders (EGMS)
Download
EGMS Invitation
Download
Power of Attorney
Download
Rules of GMS
Download
Notification of EGMS Results
Download
Notification to the Shareholders (AGMS)
Download
Notice of Postponed AGMS
Download
Notification to the Shareholders (GMS)
Download
GMS Invitation
Download
Agenda of GMS
Download
Power of Attorney
Download
CV of BOC Candidate
Download
CV of BOD Candidate
Download
Revision of GMS Invitation
Download
Rules of GMS
Download
Notification of AGMS Results
Download
Notification of EGMS Results
Download

2020
Notification to the Shareholders (AGMS)
Download
AGMS Invitation
Download
Agenda & Rules of AGMS
Download
Power of Attorney
Download
Explanation on the Agenda of AGMS
Download
CV of BOD Candidate
Download
Notification of AGMS Results
Download

2019
Notification to the Shareholders (AGMS)
Download
AGMS Invitation
Download
Explanation on the Agenda of AGMS
Download
CV of the BOD Candidates
Download
Notification of AGMS Results
Download

2018
Notification to the Shareholders (AGMS)
Download
Invitation Annual General Meeting of Shareholders
Download
Explanation on the Agenda of the AGMS
Download
Revision on Invitation of AGMS
Download
CV of the BOC Candidates
Download
CV of the BOD Candidates
Download
Notification of AGMS Results
Download
Invitation Extraordinary General Meeting of Shareholders III
Download
Notification of EGMS III Results
Download

2017
Invitation Extraordinary General Meeting of Shareholders II
Download
Notification of EGMS II Results
Download
Notification to the Shareholders (EGMS)
Download
Invitation Extraordinary General Meeting of Shareholders
Download
Explanation on the Agenda of the EGMS
Download
Notification of EGMS Results
Download
Notification to the Shareholders (AGMS)
Download
Invitation Annual General Meeting of Shareholders
Download
Explanation on the Agenda of the AGMS
Download
Notification of AGMS Results
Download

2016
Notification to the Shareholders
Download
Invitation Annual General Meeting of Shareholders
Download
Explanation on the Agenda of the AGMS
Download
Notification of AGMS Results
Download

2015
Notification to the Shareholders
Download
Invitation Annual General Meeting of Shareholders
Download
Notification of Annual General Meeting Results
Download
Candidate Director of The Company
Download

Policy
Corporate Policy for Social Responsibilities

Throughout the course of running its business, the Company constantly pays attention to social and environmental impacts as a form of the commitment to show meaningful growth that affects and benefits all parties.

The Company regularly organizes a number of activities related to work safety, health, education, environment and economic development as part of its Corporate Social Responsibility (CSR). In implementing CSR activities, the Company collaborates with its subsidiaries and various nonprofit organizations.

Responsibility For The Environment

The Company strives to reduce its operations’ impact on the environment and maintain environmental sustainability. Together with its business units, the Company adopts various initiatives aimed to minimizing environmental impact, including efforts to save energy and resources. All Company employees always practice and apply an energy-saving culture by switching off all electronic equipment including lights and computers upon leaving the room after working hours. Employees also conserve the forest resources by lessening paper usage.

Responsibility For Employees

In consideration of the importance of Employment and Occupational Health and Safety aspects, the Company and its subsidiaries maintain a positive work environment through standardized health and safety management policies implemented according to its respective nature of business and existing regulations. The Company annually partners with Siloam Hospital in Lippo Karawaci for complimentary vaccines and blood checks benefitting employees.

Every quarter, the Company organizes employee gatherings which serve as a forum for employees to exchange information, interact and familiarize with each other as well as foster a sense of solidarity. The annual Ramadan thanksgiving and Christmas events, which are held together with all employees and subsidiaries, also enhance mutual relationships and uphold respect for employee diversity.

The Company offers employees the opportunity to participate in a series of trainings, which are prepared both internally and externally. Local and foreign professional work instructors and trainers conduct these workshops, seminars and trainings.

Responsibility For Consumers

As part of its commitment and responsibility to consumers, the Company, through its subsidiaries, provides the highest quality service standards and continuously improves on these services. Since customer complaints are handled according to corresponding policies and mechanisms of the Company and its subsidiaries, these are handled properly and systematically through constant innovation and improvement of procedures and mechanisms. Moreover, the Company also implements policies that maintain the excellent quality of products and services in order to increase customer value.

Responsibility For Society

The Company realizes that business sustainability goes hand-in-hand with its involvement and contribution to the surrounding community. Therefore, the Company and its subsidiaries contribute to the improvement of society’s health and well-being through several programs that involve and empower the community, especially within the business’ immediate surroundings. The Company always encourages employees to voluntarily take an active role in participating or initiating activities related to health, education and society.