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 58 as of 31 December 2021. 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 to 2017; Independent Commissioner at PT Sarana Menara Nusantara Tbk (Protelindo), from 2018 to 2019; Independent Commissioner at PT Medikaloka Hermina Tbk (Hermina Hospital Group), from 2018 to the present; Independent Commissioner at PT Unilever Indonesia Tbk, since 2018 to the present; Commissioner at PT Solusi Sinergi Digital Tbk, since 2019 to the present; Chairman at iFlix Indonesia, from 2018 to May 2020; Independent Commissioner at PT Link Net Tbk, since 2020 to the 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, 50 years old as of December 31, 2021. 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.

Dr. Hadi Cahyadi, S.E., MBA, MCL

Independent Commissioner
Dr. Hadi Cahyadi, S.E., MBA, MCL
Independent Commissioner

Dr. Hadi Cahyadi, S.E., MBA, MCL was appointed as the Company’s Independent Commissioner upon the decision of the 2017 Annual General Meeting of Shareholders. His appointment as stated in the Deed of Statement of the Decision of the Annual General Meeting of Shareholders No. 73 dated 28 May 2018, was drafted before Tangerang-based Notary Sriwi Bawana Nawaksari, S.H., M.Kn.

He is the founder and Managing Partner of Helios Capital, the most active and reputable boutique firm in the country that focuses on M&A Advisory, Capital Raising, and Debt Restructuring. His extensive experience includes handling various corporate actions involving the acquisition and divestment of company plantations, consumer products, F&B, commodities, property, tourism, and infrastructure. He has extensive professional experience in international public accounting firms, as both auditor and financial consultant for Arthur Andersen Jakarta, KPMG Jakarta and Melbourne, Ernst & Young Jakarta, Deloitte Jakarta, and PB Taxand Jakarta. He also underwent valuable training in Corporate Recovery while with KPMG Melbourne. Concurrently, he served as Independent Commissioner and Audit Committee Chairman in several companies, namely PT Lippo Cikarang Tbk and PT Sekar Bumi Tbk. At the same time, he is President Commissioner (Independent) and Audit Committee Chairman of PT Indonesian Paradise Property Tbk.

He is an Indonesian citizen, aged 55 as of 31 December 2021, he holds a Doctorate degree in Research Management from Pelita Harapan University, Master’s degree in Business Administration (MBA) from the University of Houston – Clear Lake, USA, and a Master’s degree in Corporate Law (MCL) from Royal Melbourne Institute of Technology (RMIT), Australia. He obtained his undergraduate degree in Accounting from Tarumanagara University, Indonesia.

Jeffrey Koes Wonsono

Commissioner
Jeffrey Koes 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 2010.

His professional career began with several multinational joint-venture banks, notably PT Bank Multicor and PT Bank LTCB Central Asia, before joining the Lippo Group in 1992. 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) and concurrently serves as President Commissioner of PT Pacific Eastern Coconut Utama (since 2019). 

He is an Indonesian citizen, aged 61 as of 31 December 2021. 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 (from 2018 to June 2020), Independent Director of PT Link Net Tbk (2013-2017), and Director of PT Link Net Tbk (since 2017 to the present).

He is an Indonesian citizen, aged 58 as of 31 December 2021. 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 48 as of 31 December 2021. 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).

Rudy Ramawy

Vice President Director
Rudy Ramawy
Vice President Director

Rudy Ramawy was appointed as the Company’s Vice President Director by the decision of the 2019 Annual General Meeting of Shareholders. His term 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 has over 20 years of experience with leading companies in various industries such as Procter & Gamble (1994), Sony Music (1997-1999, 2002-2005), Warner (1999-2002), RCTI/MNC Group (2008-2011). Most notably, he was the Country Director of Google Indonesia from 2012 to 2015, where he paved the path to establishing a strong presence that ensured the company’s rapid growth in the country. He led Google’s operations, as well as the launching of YouTube Indonesia and Google Maps Street View. He concurrently is the Founder and Managing Partner of Venturra Capital, a company he established in 2015 that invests in early/growth stage technology across the region. Other ongoing positions include Commissioner in Ruangguru (since 2015), Sociolla (since 2015), and OVO (since 2016). On top of his daily ventures, he plays an active role as a volunteer and mentor in community development. He was also a Commissioner at PT Matahari Department Store Tbk  (2018-2020). Currently, he is also a Commissioner at PT Matahari Putra Prima Tbk (since 2018).

He is an Indonesian citizen, aged 50 as of 31 December 2021. He holds a Chemical Engineering degree from the University of California at Berkeley, USA.

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, and concurrently holds several positions in the Company’s business units.

He is an Indonesian citizen, aged 56 as of 31 December 2021. 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 19 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 in 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.

He is an Indonesian citizen, aged 42 as of 31 December 2021.

Jerry Goei

Director
Jerry Goei
Director

Jerry (Yerry) 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.

He is an Indonesian citizen, aged 52 as of 31 December 2021. 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 48 as of 31 December 2021. 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).

Rudy Ramawy

Deputy Chief Executive Officer
Rudy Ramawy
Deputy Chief Executive Officer

He has over 20 years of experience with leading companies in various industries such as Procter & Gamble (1994), Sony Music (1997-1999, 2002-2005), Warner (1999-2002), RCTI/MNC Group (2008-2011). Most notably, he was the Country Director of Google Indonesia from 2012 to 2015, where he paved the path to establishing a strong presence that ensured the company’s rapid growth in the country. He led Google’s operations, as well as the launching of YouTube Indonesia and Google Maps Street View. He concurrently is the Founder and Managing Partner of Venturra Capital, a company he established in 2015 that invests in early/growth stage technology across the region. Other ongoing positions include Commissioner in Ruangguru (since 2015), Sociolla (since 2015), and OVO (since 2016). On top of his daily ventures, he plays an active role as a volunteer and mentor in community development. He was also a Commissioner at PT Matahari Department Store Tbk  (2018-2020). Currently, he is also a Commissioner at PT Matahari Putra Prima Tbk (since 2018).

He is an Indonesian citizen, aged 50 as of 31 December 2021. He holds a Chemical Engineering degree from the University of California at Berkeley, USA.

Fendi Santoso

Chief Financial Officer
Fendi Santoso
Chief Financial Officer

He has 19 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 in 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.

He is an Indonesian citizen, aged 42 as of 31 December 2021.

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, and concurrently holds several positions in the Company’s business units.

He is an Indonesian citizen, aged 56 as of 31 December 2021. 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.

He is an Indonesian citizen, aged 52 as of 31 December 2021. 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.

Lina Latif

Chief Legal Officer & Corporate Services
Lina Latif
Chief Legal Officer & Corporate Services

Lina Latif started her career in Public Accounting Firm Prasetio, Utomo Co. with the last position as Senior Auditor (1979 – 1984), then joined Lippo Group in 1985. Her final positions were Director at PT Matahari Putra Prima Tbk (2001-2018) and the Company’s Director (2013-2018).

She is an Indonesian citizen and as of 31 December 2021 is 65 years old. She earned a bachelor’s degree in Economics from Trisakti University in 1980 and a Master of Law degree from the Faculty of Law, Gadjah Mada University Yogyakarta in 2014.

Tati Hartawan

Chief Human Resources Officer
Tati Hartawan
Chief Human Resources Officer

Tati Hartawan started her career at Citibank Indonesia with the last position as Global Consumer Business Human Resources Head, Senior Vice President (1989 – 2013). Appointed as Human Capital Director in Bank Mega (2013 – 2016), before joining Lippo Group of Companies as Senior HR Executive (2016 – present).

She is an Indonesian citizen and as of 31 December 2021, she is 55 years old. She holds a Bachelor of Science Degree in Accounting from San Francisco State University, United States of America (1988).

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

Dr. Hadi Cahyadi, S.E., MBA, MCL

Chairman
Dr. Hadi Cahyadi, S.E., MBA, MCL
Chairman

The Audit Committee Chairman Hadi Cahyadi also acts as the Company’s Independent Commissioner.

Dr. Hadi Cahyadi, S.E., MBA, MCL is the founder and Managing Partner of Helios Capital, the most active and reputable boutique firm in the country that focuses on M&A Advisory, Capital Raising, and Debt Restructuring. His extensive experience includes handling various corporate actions involving the acquisition and divestment of company plantations, consumer products, F&B, commodities, property, tourism, and infrastructure. He has extensive professional experience in international public accounting firms, as both auditor and financial consultant for Arthur Andersen Jakarta, KPMG Jakarta and Melbourne, Ernst & Young Jakarta, Deloitte Jakarta, and PB Taxand Jakarta. He also underwent valuable training in Corporate Recovery while with KPMG Melbourne. Concurrently, he served as Independent Commissioner and Audit Committee Chairman in several companies, namely PT Lippo Cikarang Tbk and PT Sekar Bumi Tbk. At the same time, he is President Commissioner (Independent) and Audit Committee Chairman of PT Indonesian Paradise Property Tbk.

He is an Indonesian citizen, aged 55 as of 31 December 2021, he holds a Doctorate degree in Research Management from Pelita Harapan University, Indonesia, Master’s degree in Business Administration (MBA) from the University of Houston – Clear Lake, USA, and a Master’s degree in Corporate Law (MCL) from Royal Melbourne Institute of Technology (RMIT), Australia. He obtained his undergraduate degree in Accounting from Tarumanagara University, Indonesia.

Dennis Valencia

Member
Dennis Valencia
Member

Dennis Valencia has over 36 years of professional experience in several managerial capacities. His career began as a Marketing Research Supervisor with Soriamont Shipping (1984-1986), followed by several years and positions in the property industry with Marina Properties Corp. (1988-1990) and Ayala Land Inc (1990-1994). He joined Lippo Karawaci Tbk in 1994 in Business Development and later joined Asia Kapitalindo Securities (1997-2000) as a Senior Research Manager. After a brief role as an entrepreneur (2000-2005), then he joined Agung Podomoro Group as Business Development General Manager (2005-2007) and rejoined PT Lippo Karawaci Tbk as Corporate Finance Senior Consultant (2007-present).

He is a Philippine citizen, aged 59 as of 31 December 2021. He has a Master’s Degree in Business Management from the Asian Institute of Management and a Bachelor’s Degree in Business Economics from the University of Philippines.

Liu Raymond

Member
Liu Raymond
Member

Liu Raymond served as President of Universitas Pelita Harapan (UPH) for four years (2014-2016). He is currently the Commissioner of Agro Investama Group (Palm Plantation). His extensive knowledge of the pulp industry rests on over 20 years of experience with Sinarmas and International Paper where he focused on corporate management and headed international mergers & acquisition projects, research, and development in pulp making, pulp purchasing, corporate logistics, and pulp sales. His additional four years of research experience on pulp making came from the International Paper Corporate Research Center in New York, and further three years in pulp mill management as Chief Executive of over 9 pulp mills across the USA, Canada, and France.

He is an Indonesian citizen, aged 62 as of 31 December 2021. He holds a Bachelor’s Degree in Chemical Engineering from the National Taiwan University (1982), a Master’s Degree in Chemical Engineering from West Virginia Institute of Technology, USA (1987), and Ph.D. in Chemical Engineering from North Carolina State University, Raleigh, USA (1992).

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 to 2017; Independent Commissioner at PT Sarana Menara Nusantara Tbk (Protelindo), from 2018 to 2019; Independent Commissioner at PT Medikaloka Hermina Tbk (Hermina Hospital Group), from 2018 to the present; Independent Commissioner at PT Unilever Indonesia Tbk, since 2018 to the present; Commissioner at PT Solusi Sinergi Digital Tbk, since 2019 to the present; Chairman at iFlix Indonesia, from 2018 to May 2020; Independent Commissioner at PT Link Net Tbk, since 2020 to the 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, 50 years old as of December 31, 2021. 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 58 as of 31 December 2021. 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 the last position as Global Consumer Business Human Resources Head, Senior Vice President (1989 – 2013). Then, she served as Human Capital Director in Bank Mega (2013 – 2016), before joining Lippo Group of Companies as Senior HR Executive (2016-present).

She is an Indonesian citizen and aged 55 as of 31 December 2021. 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 at the Human Resources Department of PT Voksel Electric Tbk (1990-1994). Afterward, he was General Manager for the Human Resources Department at PT Bukit Sentul Tbk (1994-2004), and held the same position at PT Matahari Putra Prima Tbk (2004-2013). He currently serves as Commissioner at PT Surya Cipta Investama (2014 – present) and is a member of the Nomination and Remuneration Committee at PT Matahari Putra Prima Tbk (2015-present).

He is an Indonesian citizen, aged 59 as of 31 December 2021. 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
Charter of the Board of Directors
Audit Committee

To assist its supervisory duties and functions, the Board of Commissioners is authorized to establish an Audit Committee as mandated in OJK Regulation No.55/POJK.04/2015 dated December 29, 2015, regarding the Establishment and Guidelines for the Work Implementation of the Audit Committee (POJK 55/2015), and IDX Regulations. No. I-A, attachment of IDX Board of Directors Decree No. Kep-00001/BEI/01-2014 concerning Listing of Shares and Equity Securities Other than Shares Issued by the Listed Company. IDX Regulation No. The I-A has been revoked and declared invalid since 27 December 2018, then replaced by IDX Regulation No. I-A Attachment to Decree of the Board of Directors of the Indonesia Stock Exchange No. Kep-00183/BEI/12-2018 dated 27 December 2018 (IDX Regulation No. I-A 2018). The Audit Committee is responsible for establishing an appropriate internal control system, improving the quality of transparency and financial reports, as well as assessing the scope, accuracy, independence, and objectivity of external audits.

AUDIT COMMITTEE CHARTER
The Company’s Audit Committee Charter is available on the Company’s official website.

AUDIT COMMITTEE COMPOSITION
According to the POJK 55/2015 and Audit Committee Charter, the Board of Commissioners has the right to appoint members of the Audit Committee. The Audit Committee shall consist of 3 (three) members, one from the Company’s Independent Commissioner, and other members from the Company’s external parties. The Audit Committee is led by an Independent Commissioner as the Chairman.

According to the Board of Commissioners’ Decree (SK Dekom) No. CSS.061-2020 dated July 1, 2020, the Company’s Audit Committee is composed of the following members:

  • Chairman: Dr. Hadi Cahyadi, S.E., MBA, MCL
  • Members: Dennis Valencia, Liu Raymond

The SK Dekom also limits the Audit Committee Members’ term of office to 1 (one) period starting from the date of appointment of the members of the Audit Committee until the closing of the AGMS for the fiscal year 2022 which will be held in 2023.

INDEPENDENCY OF THE AUDIT COMMITTEE
To ensure independency and professionalism in fulfilling Audit Committee duties and responsibilities, an Independent Commissioner chairs the Audit Committee, which has 2 (two) additional members from outside the Company, where one of the members must be a professional in the field of accounting and finance.

Members of the Audit Committee do not have any affiliation nor are employed by any public accounting, consulting firm, or third party that provided services to the Company in the past 6 (six) months. Members did not possess any authority and responsibility to plan, lead, control or supervise Company activities within the past 6 (six) months, except for the Independent Commissioner.

Members should also not have any shares directly or indirectly in the Company, and do not have any family relations nor affiliation with the Board of Commissioners, Board of Directors, shareholders or controlling parties that may affect performance of their duties.

DUTIES, RESPONSIBILITIES, AND ACTIVITIES OF AUDIT COMMITTEE IN 2021
During the fiscal year 2021, the Audit Committee organized the following activities in the performance of their duties and responsibilities and according to the POJK 55/2015, the IDX Regulation No. I-A 2018 and the Audit Committee Charter outlined by the Board of Commissioners:

  1. Audit the Company’s financial statements to be disclosed to the public and/or authorities, including financial statements, projections, and other reports relating to the Company’s financial information;
  2. Evaluate the Company’s level of compliance with laws and regulations pertaining to its business activities;
  3. Provide independent opinion in the event of a dispute between management and the Accountant regarding services rendered;
  4. Provide recommendations to the Board of Directors on the appointment of the accountant, based on his/her independence, work scope, and remuneration;
  5. Review the implementation of audit by internal auditors and supervise subsequent response by the Board of Directors toward the findings of the internal auditor;
  6. Supervise the implementation of risk management activities carried out by the Board of Directors;
  7. Review complaints relating to the Company’s accounting and financial reporting processes;
  8. Assess and advise the Board of Commissioners on potential conflicts of interest of the Company; and
  9. Safeguard the confidentiality of the Company’s documents, data and information.

POLICY AND IMPLEMENTATION OF AUDIT COMMITTEE MEETING’S ATTENDANCE RATE AND FREQUENCY
The Audit Committee is required to hold at least 1 (one) meeting every quarter (3 months). Each meeting becomes valid and binding if more than half of the total Committee members are present or legally represented. Resolutions pass through deliberations and consensus. The Minutes of the Meeting documents and records every discussion and decision, including possible disputes that may occur. All Audit Committee members in attendance must sign the Minutes of Meeting which is then submitted to the Board of Commissioners.

During the fiscal year 2021, the Audit Committee held a total of 4 (four) regular meetings.

Dr. Hadi Cahyadi, S.E., MBA, MCL

Chairman
Dr. Hadi Cahyadi, S.E., MBA, MCL
Chairman

The Audit Committee Chairman Hadi Cahyadi also acts as the Company’s Independent Commissioner.

Dr. Hadi Cahyadi, S.E., MBA, MCL is the founder and Managing Partner of Helios Capital, the most active and reputable boutique firm in the country that focuses on M&A Advisory, Capital Raising, and Debt Restructuring. His extensive experience includes handling various corporate actions involving the acquisition and divestment of company plantations, consumer products, F&B, commodities, property, tourism, and infrastructure. He has extensive professional experience in international public accounting firms, as both auditor and financial consultant for Arthur Andersen Jakarta, KPMG Jakarta and Melbourne, Ernst & Young Jakarta, Deloitte Jakarta, and PB Taxand Jakarta. He also underwent valuable training in Corporate Recovery while with KPMG Melbourne. Concurrently, he served as Independent Commissioner and Audit Committee Chairman in several companies, namely PT Lippo Cikarang Tbk and PT Sekar Bumi Tbk. At the same time, he is President Commissioner (Independent) and Audit Committee Chairman of PT Indonesian Paradise Property Tbk.

He is an Indonesian citizen, aged 55 as of 31 December 2021, he holds a Doctorate degree in Research Management from Pelita Harapan University, Indonesia, Master’s degree in Business Administration (MBA) from the University of Houston – Clear Lake, USA, and a Master’s degree in Corporate Law (MCL) from Royal Melbourne Institute of Technology (RMIT), Australia. He obtained his undergraduate degree in Accounting from Tarumanagara University, Indonesia.

Dennis Valencia

Member
Dennis Valencia
Member

Dennis Valencia has over 36 years of professional experience in several managerial capacities. His career began as a Marketing Research Supervisor with Soriamont Shipping (1984-1986), followed by several years and positions in the property industry with Marina Properties Corp. (1988-1990) and Ayala Land Inc (1990-1994). He joined Lippo Karawaci Tbk in 1994 in Business Development and later joined Asia Kapitalindo Securities (1997-2000) as a Senior Research Manager. After a brief role as an entrepreneur (2000-2005), then he joined Agung Podomoro Group as Business Development General Manager (2005-2007) and rejoined PT Lippo Karawaci Tbk as Corporate Finance Senior Consultant (2007-present).

He is a Philippine citizen, aged 59 as of 31 December 2021. He has a Master’s Degree in Business Management from the Asian Institute of Management and a Bachelor’s Degree in Business Economics from the University of Philippines.

Liu Raymond

Member
Liu Raymond
Member

Liu Raymond served as President of Universitas Pelita Harapan (UPH) for four years (2014-2016). He is currently the Commissioner of Agro Investama Group (Palm Plantation). His extensive knowledge of the pulp industry rests on over 20 years of experience with Sinarmas and International Paper where he focused on corporate management and headed international mergers & acquisition projects, research, and development in pulp making, pulp purchasing, corporate logistics, and pulp sales. His additional four years of research experience on pulp making came from the International Paper Corporate Research Center in New York, and further three years in pulp mill management as Chief Executive of over 9 pulp mills across the USA, Canada, and France.

He is an Indonesian citizen, aged 62 as of 31 December 2021. He holds a Bachelor’s Degree in Chemical Engineering from the National Taiwan University (1982), a Master’s Degree in Chemical Engineering from West Virginia Institute of Technology, USA (1987), and Ph.D. in Chemical Engineering from North Carolina State University, Raleigh, USA (1992).

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 in 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 appoints and dismisses members of the Committee on Nomination and Remuneration. According to the Board of Commissioners’ Decree No.CSS.065-2022 dated June 21, 2022, the following members comprise the Company’s Nomination and Remuneration Committee, effective from the date of appointment to the conclusion of the AGMS for the 2022 fiscal year:

  • 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 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;
    • b. Remuneration policies; and
    • c. Amount of the remuneration.
  2. Assisted the Board of Commissioners in assessing 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 advise 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’ members.

Decisions of the Nomination and Remuneration Committee meetings are made based upon 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 attendees 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 to 2017; Independent Commissioner at PT Sarana Menara Nusantara Tbk (Protelindo), from 2018 to 2019; Independent Commissioner at PT Medikaloka Hermina Tbk (Hermina Hospital Group), from 2018 to the present; Independent Commissioner at PT Unilever Indonesia Tbk, since 2018 to the present; Commissioner at PT Solusi Sinergi Digital Tbk, since 2019 to the present; Chairman at iFlix Indonesia, from 2018 to May 2020; Independent Commissioner at PT Link Net Tbk, since 2020 to the 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, 50 years old as of December 31, 2021. 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 58 as of 31 December 2021. 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 the last position as Global Consumer Business Human Resources Head, Senior Vice President (1989 – 2013). Then, she served as Human Capital Director in Bank Mega (2013 – 2016), before joining Lippo Group of Companies as Senior HR Executive (2016-present).

She is an Indonesian citizen and aged 55 as of 31 December 2021. 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 at the Human Resources Department of PT Voksel Electric Tbk (1990-1994). Afterward, he was General Manager for the Human Resources Department at PT Bukit Sentul Tbk (1994-2004), and held the same position at PT Matahari Putra Prima Tbk (2004-2013). He currently serves as Commissioner at PT Surya Cipta Investama (2014 – present) and is a member of the Nomination and Remuneration Committee at PT Matahari Putra Prima Tbk (2015-present).

He is an Indonesian citizen, aged 59 as of 31 December 2021. 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

The Company is required to practice good corporate governance in order to ensure the its business sustainability and to earn the confidence of shareholders and other stakeholders.

The Board of Directors chooses a Corporate Secretary to support its duties and responsibilities and to ensure smooth communication between the Company and its stakeholders. As a result, the Corporate Secretary’s position is becoming increasingly important in ensuring that the Company complies with applicable laws and regulations and improves corporate governance implementation.

DUTIES, RESPONSIBILITIES AND ACTIVITIES OF THE CORPORATE SECRETARY IN 2021
As liaison between the Company and Stakeholders, the Corporate Secretary has roles to build and uphold the trust and confidence of Shareholders and stakeholders in the Company. Moreover, to monitor and implement the Company’s strict compliance to applicable laws, regulations and standards, in 2021 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 2020 and the Extraordinary General Meeting of Shareholders (EGMS) which was held on 19 July 2021 and the EGMS which was held on 24 November 2021 physically 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 of 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 2021;
    • Hold an Annual Public Expose on July 19, 2021 physically 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;
    • Hold an Incidental Public Expose on May 25, 2021 with Live Video Conference via Zoom App;
    • Disclose all material information that occurred during 2021 to the general public; and
    • Manage the administrative registrations for shareholder list and special registries in cooperation with appointed Share Administration Bureau.

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, aged 40 years as of December 31, 2021.

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 consistently adheres with the applicable regulations, specifically POJK No. 56/2015 and IDX Board of Directors Decree No. Kep-00001/ BEI/01-2014 dated January 30, 2014, regarding the Listing of Shares and Equity Securities Other than Shares Issued by Listed Companies (IDX Regulation No. I-A). IDX Regulation No. I-A was subsequently revoked and declared invalid on December 27, 2018, and replaced by IDX Regulation No. I-A Attachment to Decision of the Board of Directors of the Indonesia Stock Exchange No. Kep-00183/BEI/12-2018 dated 27 December 2018 (IDX Regulation No. I-A of 2018).

Internal Audit Unit’s Charter

The Internal Audit Unit Charter is available on the Company’s website. The President Director and Chairman of the Audit Committee have approved its Internal Audit Unit Charter. This charter comprises the following guidelines:

  1. Vision and mission;
  2. Structure and position;
  3. Duties and responsibilities;
  4. Authority;
  5. Code of Ethics;
  6. Membership requirements;
  7. Accountability; and
  8. Independence

Internal Audit Unit’s Structure and Position

According to OJK Regulation No. 56/2015 and the Company’s Internal Audit Charter, the Internal Audit Unit shall have a minimum of 1 (one) Internal Auditor. The number of internal auditors required is determined by the size and complexity of the Company’s business activities.  The Head of the Internal Audit Unit, who reports directly to the President Director, may be appointed and dismissed by the President Director with the approval of the Board of Commissioners.

The Company’s letter of appointment, dated 4 January 2022, and signed by the President Director and President Commissioner, provides for the appointment of 1 (one) internal auditor, namely Rudy Sugianto.

Internal Audit Unit’s Duties, Responsibilities, and Activities in 2021

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 in respect to the Internal Audit Charter and its implementation during the 2021 fiscal year are as follows:

  • Formulate and implement annual internal audit plan;
  • Analyze and evaluate the implementation of internal control and risk management systems in accordance with the Company’s policy;
  • Test and assess efficiency and effectiveness with regards to finance, accounting, operations, human resources, marketing, information technology, and other functions;
  • Recommend improvements and provide objective information on audited activities within all management levels;
  • Prepare and submit audit reports to the President Director and Board of Commissioners;
  • Monitor, analyze, and report the implementation of recommended improvements;
  • Collaborate and communicate directly with the Audit Committee;
  • Develop a program to evaluate the quality of ongoing internal audit activities; and
  • Conduct special audits as required.

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; and
    • Obey prevailing laws, and never engage in any illegal activity.
  2. Objectivity
    • Disclose all known material facts; and
    • Practice professionalism in executing tasks and responsibilities.
  3. Confidentiality
    • Exercise prudence and austerity in managing information obtained during the course of their duties.
  4. Competence
    • Compliance with International Standards for the Professional Practice of Internal Auditing in conducting audits; and
    • Continuously improve capacity, effectiveness, and quality of audit.

Professional Certification

The Company requires proper accreditation for all members engaged in auditing the Company’s activities. 

Rudy Sugianto

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

Rudy Sugianto began his career in Pricewaterhouse Coopers as Senior Associates-Audit (2003-2005). He then joined PT Axis Telekom Indonesia as Revenue Assurance Manager (2005-2011). His involvement with several companies such as PT Rajawali Corpora as Internal Audit Manager (2011-2013), PT Multipolar Technology Tbk as Accounting, Tax, Operation Support Division Head (2013-2018) and Accounting and Finance Division Head (2019 – November 2021) enhanced his extensive knowledge and experience in finance and audit. He was appointed as Head of Internal Audit Unit of PT Multipolar Tbk on 4 January 2022.

He is an Indonesian citizen, aged 41 years old as of 31 December 2021. He obtained his bachelor’s degree in Accounting from Universitas 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    
Rudy Ramawy   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 2021 2020 2019
Issued Shares
(thousand shares)
14,639,632 14,639,632 14,639,632
Weighted
Average Number
of Shares
(thousand shares)
14,639,632 14,639,632 12,352,190
Book Value per Share (Rp) 309 271 384


Stock Highlights

Quarterly Stock Price Quarter 1 Quarter 2 Quarter 3 Quarter 4
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
2020
Highest (Rp) 88 81 58 78
Lowest (Rp) 50 50 50 50
Closing (Rp) 50 53 50 71
Volume (Shares) 343,252,300 418,668,600 276,769,600 636,836,100
Market Capitalization (Rp) 731,981,623,500 775,900,520,910 731,981,623,500 1,039,413,905,370


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)
28-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 June 30, 2022

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 Outstanding Shares Dividend Amount Paid (Rp)
2019 12 Jun 20 14,639,632,470
2020 19 Jul 21 14,639,632,470
2021 23 May 22 15,554,751,787

Financial Highlights
Financial Information
Financial Highlights

In million Rupiah, unless otherwise stated

Description

2021

2020

2019

2018

2017

Consolidated Statements of Financial Position

Total Assets

14,760,983

15,682,406

15,283,901

17,548,120

20,023,895

Total Liabilities

10,232,542

11,719,043

9,665,922

10,934,580

12,488,005

Total Equity

4,528,441

3,963,363

5,617,979

6,613,540

7,535,890

Consolidated Statements of Profit or Loss and Other Comprehensive Income

Net Sales

10,310,153 10,277,387 12,322,341 14,982,244 17,077,396

Gross Profit

1,854,336 2,027,436 2,437,177 2,810,248 2,208,784

Profit (loss) for the year

25,990 (989,536) (1,041,543) (1,620,165) (1,823,532)

Profit (loss) for the year Attributable to :

         
  •  Owners of the Parent

201,258 (793,095) (866,094) (1,221,769) (1,246,872)
  • Non-Controlling Interest

(175,268) (196,441) (175,449) (398,396) (576,660)

Comprehensive Income (loss) for the year

(149,059) (981,578) (1,010,307) (1,504,573) (1,810,373)

Total Comprehensive Income (loss) Attributable to :

         
  • Owners of the Parent

11,536

(832,440)

(855,705)

(1,142,555)

(1,224,856)

  • Non-Controlling Interest

(160,595)

(149,138)

 (154,602)

(362,018)

(585,517)

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

14,639,632

14,639,632

14,639,632

12,352,190

10,064,747

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

14

(54)

(59)

(99)

(124)

Financial Ratio

Description

2021

2020

2019

2018

2017

Return on Assets (%) 0.2% -6.3% -6.8% -9.4% -9.1%
Return on Equity (%) 0.6% -25.0% -18.5% -25.9% -24.2%
Net Profit Margin (%) 0.3% -9.6% -8.5% -10.8% -10.7%
Current Ratio (x) 1.1 0.8 1.0 1.2 1.2
Liabilities on Equity Ratio (x) 2.3 3.0 1.7 1.7 1.7
Liabilities on Assets Ratio (x) 0.7 0.7 0.6 0.6 0.6

Investor Materials
Presentation
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
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2022
Notification to the Shareholders (AGMS)
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AGMS Invitation
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Agenda & Rules of AGMS
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Explanation on the Agenda of AGMS
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Power of Attorney
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Notification of AGMS Results
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2021
Notification to the Shareholders (EGMS)
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EGMS Invitation
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Power of Attorney
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Rules of GMS
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Notification of EGMS Results
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Notification to the Shareholders (AGMS)
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Notice of Postponed AGMS
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Notification to the Shareholders (GMS)
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GMS Invitation
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Agenda of GMS
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Power of Attorney
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CV of BOC Candidate
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CV of BOD Candidate
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Revision of GMS Invitation
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Rules of GMS
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Notification of AGMS Results
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Notification of EGMS Results
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2020
Notification to the Shareholders (AGMS)
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AGMS Invitation
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Agenda & Rules of AGMS
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Power of Attorney
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Explanation on the Agenda of AGMS
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CV of BOD Candidate
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Notification of AGMS Results
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2019
Notification to the Shareholders (AGMS)
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AGMS Invitation
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Explanation on the Agenda of AGMS
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CV of the BOD Candidates
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Notification of AGMS Results
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2018
Notification to the Shareholders (AGMS)
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Invitation Annual General Meeting of Shareholders
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Explanation on the Agenda of the AGMS
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Revision on Invitation of AGMS
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CV of the BOC Candidates
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CV of the BOD Candidates
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Notification of AGMS Results
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Invitation Extraordinary General Meeting of Shareholders III
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Notification of EGMS III Results
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2017
Invitation Extraordinary General Meeting of Shareholders II
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Notification of EGMS II Results
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Notification to the Shareholders (EGMS)
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Invitation Extraordinary General Meeting of Shareholders
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Explanation on the Agenda of the EGMS
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Notification of EGMS Results
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Notification to the Shareholders (AGMS)
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Invitation Annual General Meeting of Shareholders
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Explanation on the Agenda of the AGMS
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Notification of AGMS Results
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2016
Notification to the Shareholders
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Invitation Annual General Meeting of Shareholders
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Explanation on the Agenda of the AGMS
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Notification of AGMS Results
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2015
Notification to the Shareholders
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Invitation Annual General Meeting of Shareholders
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Notification of Annual General Meeting Results
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Candidate Director of The Company
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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.