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MPC Reports IDR 201 Billion Net Profit in 2021 Driven by Strong Operations and Post-pandemic Recovery
01 April 2022



1 April 2022


  • 2021 result marks MPC’s return to profitability after IDR 793 billion loss in 2020
  • Tech and digital businesses as significant profit contributors
  • Retail sector rebounds to profitability after pandemic-hit performance last year
  • Accelerating evolution into digital banking
  • Capital raise proceeding as planned, target to complete in April 2022

Jakarta, 1 April 2022. MPC (PT Multipolar Tbk,Company”, stock code MLPL) today submitted its full-year 2021 financial results, reporting IDR 10.3 trillion in revenues and IDR 201 billion in net profits. This marks MPC’s return to profitability after an IDR 793 billion loss in 2020, when its retail businesses faced nationwide temporary store closures and operational restrictions in support of the government’s measures against the Covid-19 pandemic.

MPC’s technology and digital businesses, among others Multipolar Technology (“MLPT”, stock code MLPT) with its IT systems integration and managed services businesses and Venturra with its regional multisectoral investments in early-stage ventures, contribute significantly to the profit. MLPT reports almost IDR 3 trillion in revenues, an 11.6% increase from 2020, and IDR 259 billion in net profits, a 50.2% jump from its 2020 net profits. MLPT and its subsidiaries, with a nationwide footprint of customer touch points, continues to expand its businesses into cloud computing, big data, artificial intelligence and other tech-based services.

MPC’s retail businesses also start showing a turnaround, led by Matahari Department Store (“MDS”, stock code LPPF) that reports IDR 10.3 trillion in gross sales, a significant 19.6% growth from 2020 and IDR 913 billion in net profits, a dramatic rebound from IDR 873 billion net loss in 2020. MDS also reports zero loan balance at the end of 2021, from IDR 1 trillion outstanding loan balance as at the end of 2020. Matahari Putra Prima (“MPPA”, stock code MPPA) successfully completed its rights issue in December 2021 and raised IDR 720 billion¾substantially strengthening its balance sheet and providing ample capital for its growth plan. MPPA as well as MDS are continuing to expand their omnichannel retail operations through their own digital platforms and participation in hundreds of virtual stores at marketplaces such as GoMart, Tokopedia, Grabmart, Shopee, Blibli, and others.

In the fintech front, Bank Nobu (“Nobu”, stock code NOBU) is accelerating its evolution into digital banking, having successfully launched NobuNEO app in 2021 and continuing to add features and augment its banking capabilities to enable full digital solutions to its customers.

MPC’s capital raise is proceeding as planned, with target to complete in April 2022. Proceeds from the capital raise will be used to fund the Company’s growth strategy through investments and acquisitions, and to strengthen its balance sheet.

Adrian Suherman, CEO and President Director of MPC says: “MPC, with its competent management teams, solid support from its shareholders, strong relationships with its business partners, and a wealth of experience in the Indonesian market, is uniquely positioned to capture the next phase of Indonesia’s economic growth. We are encouraged by our 2021 results and are determined to continue executing our strategies and increasing our shareholders’ value.”


MPC is Lippo’s publicly-listed investment company with an NAV of over $2 billion, including investments in a diversified portfolio of mature, cash-generative, market-leading businesses, as well as early- and late-stage technology companies in Southeast Asia. Since 2015, MPC has invested in more than 40 high-growth and industry-leading companies. MPC’s portfolio also includes a number of IDX-listed entities, including PT Matahari Putra Prima Tbk (“MPPA”; stock code MPPA), the operator of “Hypermart”, one of Indonesia’s leading supermarket chains, PT Matahari Department Store Tbk (“MDS”; stock code LPPF), which has the largest department store network in Indonesia, PT Multipolar Technology Tbk (“MLPT”; stock code MLPT), PT First Media Tbk (“FM”; stock code KBLV), and PT Bank National Nobu Tbk (“NOBU”; stock code NOBU).


Agus Arismunandar

Chief of Business Development & Investor Relations – MPC