Today, PT Megapolitan Developments Tbk held its Annual General Meeting of Shareholders (AGM) 2024 to report on the company's performance and challenges faced throughout the 2023 fiscal year.

PT Megapolitan Developments Tbk has conducted its Annual General Meeting of Shareholders (AGM) 2024 to report on the company's performance throughout the 2023 fiscal year. Despite the political uncertainty surrounding the Indonesian general election in 2023, the company managed to increase its net sales by 0.75% to Rp154.59 billion and recorded an EBITDA profit of Rp16.4 billion.

For the year 2024, PT Megapolitan Developments Tbk plans to enhance liquidity through asset sales and collaboration with external parties for new project developments, particularly the Dahlia residential and commercial project in Sentul, Bogor, as well as the sale of residential units in Cinere Parkview.

During today's AGM, in accordance with the quorum requirements, all proposed agenda items were approved, including the approval of the 2023 Financial Statements, the appointment of Public Accountants or delegation of authority to the Board of Commissioners to appoint Public Accountants to audit the Company's financial statements for the 2024 fiscal year, as well as changes and/or reaffirmation of the Board of Commissioners and Directors of the Company.

In the AGM held on May 30, 2024, the Company also announced the composition of the Board of Commissioners and Directors as follows:

Board of Commissioners:

Ms. Barbara Angela Barak Rimba - President Commissioner

Ms. Jennifer Barak Rimba - Commissioner

Mr. Drs. Anton Bachrul Alam SH - Independent Commissioner

Ms. Hongisisilia SE - Independent Commissioner

Directors:

Mr. Ronald Trisna Wihardja - President Director

Ms. Lora Melani Lowas Barak Rimba - Director

Mr. Radian Wena Wahyudi - Director

Ms. Ouw Desiyanti - Director

With the established management structure, PT Megapolitan Developments Tbk hopes to achieve growth and meet the set targets. These steps are expected to lead the company towards the desired success.

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