Praise and gratitude we offer to the presence of The God Almighty for the abundance of His grace and gifts, so as to the Company can go through 2024 well and record various positive achievements, despite encountering with various challenges and dynamics in the construction industry.
On this good occasion, I represent the Board of Directors in submitting the Annual Report as a form of accountability and the Company’s commitment to the principle of openness of information to shareholders, regulators, and all stakeholders. All information presented in this report, especially that relating to the Company’s operational and financial performance, has been prepared transparently, accurately, and refers to prevailing regulatory provisions.
The Importance of Infrastructure Development in Construction Sector Expansion
Infrastructure is the foundation for Indonesia to be able to compete with other countries, while also being able to provide a multiplier effect to drive Indonesia’s economic growth, including by creating jobs and new economic growth points. The success of infrastructure development is largely determined by the supply of construction material and equipment resources. Therefore, the management of the supply chain governance of construction materials and equipment must be carried out properly, to ensure their availability in terms of both quantity and quality.
Increasing national infrastructure development activities can provide high leverage for the growth of the construction industry. This is reflected in the extraordinary increase in the performance of the construction sector and becoming one of the largest industries with the fastest growth in Southeast Asia. One of the main drivers of the growth of the construction sector in Indonesia is the significant investment from the Government in infrastructure projects. The Government’s endeavor to improve national connectivity and drive economic growth through infrastructure development are important factors in the expansion of the construction sector.
Another driving factor that has a major impact on the construction sector is rapid urbanization and population growth in Indonesia is also a major contributor to the construction industry. With more and more people moving to cities, the demand for residential and commercial buildings and urban infrastructure has also increased rapidly.
According to the Central Statistics Agency (BPS), the Indonesian economy in 2024 recorded a cumulative growth of 5.03% (year on year/yoy). This growth remains being overshadowed by uncertainty and various global challenges that remain loom, such as geoeconomic fragmentation, geopolitical tensions, to Global economic projections in 2024 and 2025 as of December 2024 showed relatively stable growth. The Organisation for Economic Co-operation and Development (OECD) projects global GDP growth of 3.2% in 2024 and 3.1% in 2025.
The construction sector plays a significant role in supporting the Government’s undertakings to expand infrastructure throughout Indonesia. In addition, the Indonesian construction industry is one of the largest and fastest growing in Southeast Asia.
Stable Growth Owing to the Applicable Policies
Throughout 2024, the Indonesian economy showed strong and stable performance. Solid economic performance is marked by Gross Domestic Product (GDP) growth of 5.1%, slightly increasing compared to the previous year which reached 5.0%. Economic and political stability, supported by effective fiscal and monetary policies, has succeeded in increasing investor confidence and encouraging investment realization in various sectors.
However, the world economy remains being overshadowed by uncertainty caused by various factors such as extreme weather, disinformation and misinformation generated by artificial intelligence, social risks and polarization, cost of living risks and rampant cyber attacks. However, the Indonesian economy in 2024 was able to grow solidly by 5.03% (yoy) with controlled inflation in the target range of 2.5% with a tolerance range of ±1%, namely 1.57% in 2024.
The main sector driving Indonesia’s economic growth is the increase in the Manufacturing Industry by 4.5% while also being the largest contributor to GDP growth. The growth of the processing industry was supported by an increase in manufacturing production and exports of processed products, Wholesale and Retail Trade which recorded a growth of 4.8%. This sector benefited from increasing domestic consumption and people’s purchasing power.
Another sector that drove Indonesia’s economic growth was Information and Communication with the highest growth reaching 9.3%. This sector continues to grow along with digitalization and increasingly widespread internet penetration. The household expenditure and consumption sector also experienced growth of 4.9%. Investment or Gross Fixed Capital Formation (PMTB) also showed an increase of 4.6%, reflecting investor confidence in Indonesia’s economic prospects.
The inflation rate throughout 2024 was recorded at 1.57% yoy and this figure is the lowest in Indonesian history. The inflation was maintained within the target range of 2.5% ± 1% set by the government and Bank Indonesia. This inflation stability indicates the Government’s ability to maintain price stability and people’s purchasing power. The implementation of targeted fiscal policies, such as optimizing state revenues and spending efficiency as well as synergy between fiscal and monetary policies has succeeded in maintaining macroeconomic stability and encouraging inclusive growth.
Stronger Growth in the Construction Industry in 2024
The construction sector plays a vital role in infrastructure development in Indonesia. The contribution of the construction sector will have a significant impact on Indonesia’s economic growth through Gross Domestic Product (GDP). The construction sector is one of the fourth largest contributors in the last three years of the 2022-2024 period. The growth of the construction sector in 2024 reached 7.02% yoy of GDP achievement. This growth is higher than in 2023 which reached 4.91% yoy with a contribution of 10.09% to GDP. The growth of the construction sector occurs along with the many infrastructure projects carried out by the government and the private sector.
Despite having bright prospects, the construction services industry in Indonesia remain to face several challenges including the availability of raw materials, skilled labor and regulatory changes are some of the issues that need to be addressed to ensure the smooth running of construction projects. To encounter these challenges, the construction industry must be agile in responding to various challenges quickly and effectively. The construction industry shall also be able to adapt to adjust strategies according to changing conditions in order to remain being competitive amidst increasingly fierce competition.
Corporate Strategy and Policy for 2024
The Company has prepared a short-term and long-term sustainability strategy into the Company’s Work Plan and Budget (RKAP) which is in conformity with the Long-Term Plan (RJP). The RKAP and RJP contain strategies and targets that the Company wants to achieve in the following financial year.
As stated in the RKAP, the Company’s policies and strategies are focused on four main aspects as follows:
The rapid development of technology, accompanied by a number of challenges in the current construction industry, encourages the Company to continue to focus on developing modular construction as one of its leading products. The offsite method in modular construction has proven to be an effective strategy in reducing costs, accelerating work time, and significantly reducing energy consumption. Furthermore, this method also contributes to reducing greenhouse gas emissions and supporting climate change mitigation undertakings. Modular construction offers the additional advantage of ease of relocation and reuse, making it a more environmentally friendly solution. Since its implementation in 2018, modular construction has had a significant impact on the Company’s performance, supporting its commitment to ESG (Environmental, Social, and Governance) principles, and in conformity with the Company’s initiative to achieve Net Zero Emissions (NZE) in the future. With a focus on sustainability, modular construction is expected to continue to provide a positive contribution to the Company’s growth in 2024 and beyond.
The Role of the Board of Directors in Strategy Formulation
In 2024, the Company goes into its 16th year. In line with the new vision, “To become a trusted partner in creating an innovative and sustainable construction ecosystem”, the Company affirms its commitment to realizing a healthy, growing and sustainable Company. Entering a more established growth phase, the Company has formulated a series of strategic initiatives to drive comprehensive business and operational transformation.
The Board of Directors, as the Company’s organ that has the authority and full responsibility for managing the company, has a central role in strategy formulation. All actions and decisions of the Board of Directors are continually directed towards the best interests of the Company. In carrying out its duties, the Board of Directors prepares short, medium and long-term strategies which are outlined in the Company’s Work Plan and Budget (RKAP) as an annual elaboration of the Company’s Long-Term Plan (RJP).
The strategy is next being implemented through work programs implemented by related units within the organization. The Board of Directors also stipulates the budget details for each work program, which are equipped with financial projections for both the Company and its subsidiaries.
As a form of supervision and control, the Board of Directors periodically evaluates the implementation of the strategies that have been implemented. This evaluation includes performance achievement, implementation of strategic initiatives, and monitoring of risk profiles. Based on the results of the evaluation, the Board of Directors makes adjustments, improvements, and refinements to strategies to ensure the relevance and effectiveness of the policies implemented.
In addition, the Board of Directors also routinely conducts in-depth studies and observations of various challenges and problems encountered by the Company. Resolution steps are implemented sustainably to ensure the achievement of company goals and consistent performance improvement.
Achievement and Realization of 2024 Targets
The transformation carried out by the Company in 2024 has succeeded in bringing positive growth to the Company’s performance. As part of the business journey, the transformation includes, among others, changes in vision and mission, which become a new foundation in achieving the Company’s long-term strategic goals.
In 2024, the Company succeeded in achieving most of the targets that have been set, such as achieving Total Revenue exceeding the target set at Rp5.10 trillion or 114.83% of the target of Rp4.44 trillion, Total Assets of Rp5.73 trillion or 100.82% of the target of Rp5.68 trillion, and Gross Profit of Rp307.50 billion or 121.13% of the target of Rp253.87 billion. In the meantime, there are several targets that have unachieved, including New Contracts of Rp2.72 trillion or 53.54% of the target of Rp5.07 trillion, and Net Profit of Rp67.96 billion or 76.25% of the target of Rp89.13 billion, although it grew 46.14% compared to the realization of net profit in 2023 of Rp46.50 billion.
However, several targets that unachieved are influenced by numerous factors, especially external factors including the dynamics of the construction industry and macroeconomic pressures that have an impact on decreasing demand and limited new projects, thus affecting the achievement of several of the Company’s performance indicators.
In response to these challenges, the Company has taken various strategic steps, including increasing operational efficiency, strengthening relationships with key clients, implementing innovation and technology, expanding market penetration through superior products, and optimizing other business strategies. These undertakings are part of the Company’s commitment to maintaining competitiveness and ensuring sustainable growth.
The Company’s positive performance achievement in 2024 is also aligned with the attainment of the Customer Satisfaction Index (CSI) of 93.39%. Analysis of the CSI score indicates that the level of customer satisfaction has increased, reflecting the Company’s success in meeting customer expectations and needs, as well as creating a positive experience in every service provided amidst the challenges encountered by the industry.
Challenges Encountered and Steps to Resolve Them
The condition of the national construction sector throughout 2024 faces a number of reasonably complex challenges, both from external and internal factors. One of the main challenges is the weakening of the rupiah exchange rate against the United States (US) dollar, which is influenced by global and domestic dynamics. Domestically, the financial market is showing a wait and see attitude towards the direction of Bank Indonesia’s (BI) interest rate policy. Meanwhile, from the external side, uncertainty over the Fed’s interest rate policy, slowing economic growth in China, and higher-than-expected export-import and deflation data have also put additional pressure on the exchange rate and investment climate.
The weakening of rupiah exchange rate has a direct impact on operational costs, especially due to the increase in the price of imported raw materials such as iron, steel, cement, and heavy equipment used in construction projects. This causes pressure on production costs which can ultimately affect profit margins and the smooth implementation of projects.
On the other hand, challenges also arise from complex and dynamic regulatory aspects, including compliance with the provisions of the Construction Services Law and Government Regulation No. 14 of 2021. Compliance with this regulation requires a comprehensive understanding so as to the operational activities continue to run effectively and in accordance with prevailing laws and regulations. Furthermore, the availability of skilled and certified professional workers remains a challenge in maintaining the quality and timeliness of project implementation.
Other factors such as inflation, material price fluctuations, and global economic uncertainty also increase the risk to the sustainability of ongoing and future projects.
In response to these challenges, the Company has formulated and implemented a number of strategic steps, including:
These steps are taken as a form of the Company’s commitment to maintaining competitiveness, business resilience, and sustainable growth amidst the dynamics of the ever-evolving business environment. With an adaptive and measurable strategy, the Company is optimistic to be able to continue maintaining healthy and sustainable performance in the future.
Improving the Quality of Implementation of Corporate Governance
The implementation of good corporate governance (GCG) are carried out consistently to be able to contribute improving the Company’s performance. The Company’s undertakings to continually improve the quality of the implementation of GCG principles are carried out continuously by periodically reviewing the Company’s internal policies to ensure their compliance with prevailing laws and regulations. The Company ensures that the implementation of all current internal policies has met the principles of GCG, namely Transparency, Accountability, Responsibility, Independence and Fairness at all levels or levels of the organization.
The implementation of GCG practices at all levels of the Company aims to encourage professional, efficient and effective management of the Company. In addition, the implementation of GCG is also able to empower work functions optimally and increase the independence of the Company’s Organs. In accordance with the Articles of Association, the Company has main organs, namely the General Meeting of Shareholders (GMS) as the highest decision-making forum for shareholders; the Board of Commissioners which plays a role in supervising and monitoring the Company; and the Board of Directors who are responsible to running and managing the Company.
Through the GMS, shareholders can play an active role in determining the direction and policies of the company. In 2024, the Company held 1 (one) Annual General Meeting of Shareholders (AGMS) on May 20, 2024 and 1 (one) Extraordinary General Meeting of Shareholders (EGMS) on February 29, 2024. The Company continuously fulfills the principle of fairness to shareholders in terms of their rights and authorities in implementing the Company’s GMS.
In addition to the GMS, another organ that greatly influences the implementation of GCG is the function of the Board of Commissioners. The Company has 4 (four) members of the Board of Commissioners who are able to provide advice and direction according to the expertise and experience of each member. The direction and advice provided are very relevant to the Company’s condition hence it brings the Company’s performance to be more positive in 2024 amidst the challenges of the construction industry and economy.
For the meantime, the vision and mission are strategic components for the company that are believed to be able to make the company see future potential and tend to encourage short-term thinking and long-term target determination. The Company’s undertakings to strengthen corporate governance are changes to the Company’s Vision-Mission which were ratified in the Board of Directors Meeting Number: MJ.01.00/A.DIR.00003.WEGE/2024 dated December 24, 2024. This change was later approved by the Board of Commissioners in the Board of Commissioners Meeting involving the Board of Directors (Rakomdir) Number SE.01.03/A.KOM.00001/2025 dated December 30, 2024.
Through the vision of becoming a “Trusted Partner in Creating an Innovative and Sustainable Construction Ecosystem”, the Company hopes to have a positive impact on the sustainability of the Company’s business. To realize the vision, the Company has stipulated several steps outlined in the mission, namely strengthening trust and transparency, prioritizing solutions for customers, integrating technology for innovation, creating a collaborative ecosystem with strategic partners, and being oriented towards sustainability as the core of the operational process. The changes in vision and mission are considered by management as a form of organizational adjustment to changes, including competition, regulation, consumer behavior, technology, economy, and the organizational life cycle.
In order to strengthen GCG through the Integrated Governance Committee (IGC), the Board of Directors has an important role as a company manager who is responsible for ensuring the implementation of good governance, including in preparing and establishing risk management policies and policies related to integrated governance, and ensuring that these policies are implemented consistently. The Board of Directors through the Internal Control System (SPI) also monitors and evaluates the implementation of integrated governance in the company, including assessing the adequacy of internal control, risk management and compliance functions. Then, the Board of Directors follows up on the findings and recommendations of the IGC committee, while ensuring that the findings are handled appropriately and effectively. Periodically, the Board of Directors provides reports to the Board of Commissioners regarding the implementation of integrated governance in the Company.
In relation to the role of management and administration of the Company carried out by the Board of Directors, the Board of Directors carries out all actions related to the interests of the company and in accordance with the intent and purpose of the company, and represents the Company both inside and outside the court regarding all matters and events related to restrictions as stipulated in laws and regulations, Articles of Association and/or GMS Decisions. In 2024, The Company has 5 (five) members of the Board of Directors with different duties and responsibilities as stated in the Board Manual.
In accordance with the prevailing regulations and the Board Manual, the Board of Directors is required to hold a Board of Directors Meeting at least once a month, and in that meeting the Board of Directors may invite the Board of Commissioners. Throughout 2024, the Board of Directors has held 7 (seven) Board of Directors Meetings, while Joint Meetings with the Board of Commissioners were held 11 (eleven) times.
The Company constantly delivers information transparently, accurately, and on time to the shareholders and all stakeholders. This commitment is realized through openness and equality of information in various reports and information from the Company published through the Company’s official website, the Indonesia Stock Exchange, and communication facilities to the mass media.
The Company also shows a high commitment to the Government’s undertakings to eradicate corruption and fraud in Indonesia. In 2024, the Company made a policy to implement the ISO 37001:2016 Anti-Bribery Management System (SMAP) as part of the Company’s steps to prevent fraud and as part of the Company’s endeavor to strengthen GCG practices. The Company also continues to strengthen the management of the Whistleblowing System (WBS), which is an integral part of the implementation of SMAP.
The Company realizes that the effectiveness of WBS practices is not easy to implement because it requires understanding and awareness from each organ of the Company. For this reason, the Company has made provisions regarding the implementation of WBS and is stated in the Employee Code of Conduct. In WBS reporting, the reporter’s identity will be kept confidential and will receive legal protection. This is carried out to hence the reporter is assured to report incidents of fraud or indications of fraud or other violations found.
Every report of alleged violations of the implementation of the Employee Code of Conduct is followed up by the Corporate Governance Compliance Team by coordinating and collaborating with the relevant Company organs to ensure objective resolution and in accordance with the principles of good corporate governance. Throughout 2024, there were no reports of alleged violations of the Employee Code of Conduct received, there hence was no investigation process or sanctions imposed during the reporting period.
The Company’s commitment to continue to strive to improve the implementation of GCG is carried out through periodic value tests (assessments) based on established standards. The Company has set sustainability performance criteria in Key Performance Indicators (KPI) as a benchmark for the Board of Directors’ performance.
In connection with the revocation of SK-16/S.MBU/2012 concerning the assessment and evaluation indicators for the implementation of GCG, in order to improve the implementation of GCG in the corporate environment, the Company refers to the ASEAN Corporate Governance Scorecard (ACGS). The ACGS assessment instrument was developed based on internationally standardized corporate governance principles, especially the corporate governance principles issued by the OECD and the International Corporate Governance Network (ICGN). Based on the assessment conducted by independent assessors, in 2018 the Company obtained a score of 90.49 with a Very Good or Level 4 predicate, indicating that the Company’s GCG practices have fully adopted international standards.
In addition, the Company also refers to the General Guidelines for Indonesian Corporate Governance (PUGKI) issued by the National Committee for Governance Policy (KNKG) as part of undertakings to strengthen governance. The results of the assessment of the level of compliance with the implementation of GCG principles serve as a reference for the Company in conducting evaluations and continuous improvements to the implementation of GCG practices in the future.
Main Criteria for the Board of Directors’ Performance Assessment
The determination of the Board of Directors’ Key Performance Indicators (KPI) is carried out by considering strategic aspects that are aligned with corporate goals and priorities. The assessment focuses on the achievement of the Company’s overall performance targets, the effectiveness of business strategy implementation, and the Board of Directors’ contribution in creating added value and maintaining sustainable business growth.
In 2024, the achievement of the Corporate KPI which is the reference in assessing the Board of Directors’ performance reached a score of 99.60. This record was obtained based on the strategic criteria that have been set, including aspects of Economic and Social Value for Indonesia, Business Model Innovation, Technology Leadership, Investment Increase, and Talent Development.
The measurement and determination of these KPIs reflect the level of success of the Board of Directors in directing and managing the Company as a whole in accordance with the short-term and long-term strategies that have been set at the beginning of the year. In addition to corporate KPI-based measurements, assessments are also carried out individually for each member of the Board of Directors, by considering criteria such as the level of attendance at Board of Directors’ Meetings and Coordination Meetings with the Board of Commissioners, active participation in discussions and decision-making, compliance with company regulations and policies, and commitment to collective decisions that have been agreed upon.
The results of the Board of Directors’ performance evaluation, both collectively and individually, become the basis for consideration by Shareholders in making decisions regarding the reappointment or dismissal of members of the Board of Directors in the upcoming period.
Performance Assessment of the Committees Under the Board of Directors
The Company does not have a committee under the Board of Directors until the period ended on December 31, 2024. However, the existence of Supporting Organs under the Board of Directors has been able to carry out its duties and responsibilities well in assisting the Board of Directors in performing the Company’s management functions. During 2024, the Supporting Organs under the Board of Directors have completed their duties well and implemented the principles of good corporate governance in each of their functions.
A Holistic Approach to Achieve Long-Term Sustainability
The Company is aware that the company’s business and operational activities have a significant impact on the sustainability of the earth and living creatures. Therefore, in running its business, the Company is committed to implementing sustainable financial principles and creating sustainable economic growth by aligning the interests of Environmental, Social, and Governance (ESG). The Company believes that by aligning these three aspects, a solid foundation will be created to realize a sustainable business with optimal performance achievement.
Throughout 2024, the Company has aligned most of its business and operational activities with a focus on ESG aspects, which are explained as follows:
Environmental Aspect:
As an undertaking to reduce environmental impact, the Company is transitioning the use of operational vehicles for management and employees, switching from fossil fuel vehicles to electric vehicles (EV). To support the achievement of the Net Zero Emissions target by 2060, the Company is also focusing on improving the capabilities of modular construction technology that can reduce emissions and waste from project work. The use of quality and environmentally friendly raw materials and auxiliary materials is also a priority, in addition to various other programs that support sustainability.
Social Aspect:
The Company understands that Human Capital (HC) play an important role in the sustainability of the company’s business. The potential of HC can be utilized to achieve success, both individually and in achieving organizational goals. In 2024, one of the Company’s main focuses is the implementation of diversity in the company environment. We continue to encourage the involvement of women in various leadership positions, including on the Board of Commissioners. Commitment to gender equality and expansion of diversity initiatives across all business lines aims to create an inclusive, innovative, and highly competitive work environment. This is reflected in the number of female employees by 12% of total employees in 2024.
In order to fulfill its responsibility to the community, the Company regularly organizes activities aimed at the community through its Corporate Social Responsibility (CSR) program. The Company’s active role in CSR activities has been integrated with ISO 26000 and the Sustainable Development Goals (SDGs) through four pillars, namely: Green WEGE, Healthy WEGE, Smart WEGE, and Caring WEGE. Throughout 2024, the Company has carried out a series of CSR activities from these various pillars.
Governance Aspect:
In order to strengthen the principles of good corporate governance, the Company implements the principles set out in the ASEAN Corporate Governance Scorecard (ACGS) and is guided by the ISO 37001 Anti-Bribery Management System (SMAP) standard. This aims to prevent, detect, and handle bribery in the company environment comprehensively, including in business activities.
Regarding the risk management that related to climate change, the Company has developed a strategy to handle two types of risks: physical risks, namely losses caused by the physical impacts of climate change, and transition risks, namely risks related to the transition to a low-carbon economy, such as regulatory uncertainty, pressure from investors, changes in consumer preferences, and the development of new technologies.
In order to realize sustainability consistently, the Company has established a series of strategic policies that regulate in detail the management, monitoring and evaluation of various aspects, ranging from strategy, marketing to financial targets that must be achieved.
The Board of Directors is optimistic that with synergy and a holistic approach carried out in all lines, the Company will be able to capture opportunities and realize a sustainable business.
In 2025, the policy direction of the new Government led by the elected President and Vice President, Prabowo Subianto and Gibran Rakabuming Raka, will no longer focus on massive infrastructure development as in the previous period, but will instead focus more on programs that support improving the quality of human capital, food security, and industrial downstreaming. This change in focus is a challenge for the construction sector, which has been the backbone of national infrastructure development. However, the Company believes that opportunities remain open, especially in continued strategic projects such as the development of the Indonesian Capital City (IKN), social facilities, education and health infrastructure, as well as industrial and residential areas that support the downstreaming and food independence agenda.
Therefore, in facing the changing dynamics of the construction market, the Company will prioritize a project diversification strategy, strengthening operational efficiency, and increasing construction technology capabilities, especially in the efficient, adaptive, and sustainable modular segment. The Company will also strengthen its investment portfolio through strategic collaboration with BUMN and private partners, including responding to opportunities from the private sector which are expected to grow along with improving purchasing power and domestic economic activity.
Amid global uncertainty, volatility in raw material costs, and liquidity challenges, the Company will maintain prudence in cash flow management, strengthen project risk management, and prioritize governance and sustainability as the main foundation. The Board of Directors is optimistic that with a strong business foundation and an adaptive strategic approach, the Company will be able to maintain healthy and sustainable performance throughout 2025.
In 2024, the composition of the Company’s Board of Directors has changed according to the decision of the Annual General Meeting of Shareholders (GMS), comprising:
The complete composition of the Company’s Board of Directors consists of 1 (one) President Director and 4 (four) Directors, as follows:
Table of Composition and Basis for the Appointment of Board of Directors
Name | Position | Terms of Office | Length of Service | Basis of Appointment |
---|---|---|---|---|
Hadian Pramudita | President Director | April 19, 2022 - GMS 2027 | Period-1 | Decision of the Annual General Meeting of Shareholders (AGMS) dated April 19, 2022 and confirmed in Deed Number 5 dated April 19, 2022. |
Tomo Dwi Hasputro | Director of QHSE (Quality, Health, Safety, Environment) and Marketing | May 20, 2024 – AGMS 2029 | Period-1 | Decision of the Annual General Meeting of Shareholders (AGMS) dated May 20, 2024 and confirmed in Deed Number 8 dated May 20, 2024. |
Bagus Tri Setyana | Director of Operations I | July 28, 2020 - GMS 2025 | Period-1 | Decision of the Extraordinary General Meeting of Shareholders (EGMS) dated July 28, 2020 and confirmed in Deed Number 51 dated July 28, 2020. |
Dwi Purnomo | Director of Operations II | May 10, 2023 - GMS 2028 | Period-1 | Decision of the Annual General Meeting of Shareholders (AGMS) dated May 10, 2023 and confirmed in Deed Number 2 dated May 10, 2023. |
Hartanto Karti Raharjo | Director of Finance, Human Capital and Risk Management | May 20, 2024 - AGMS 2029 | Period-1 | Decision of the Annual General Meeting of Shareholders (AGMS) dated May 20, 2024 and confirmed in Deed Number 8 dated May 20, 2024. |
On behalf of the Company, we would like to express our appreciation and gratitude to Mr. Syailendra Ogan and Akhmadi Tricahyono, for their contributions during their tenure as members of the Company’s Board of Directors.
On behalf of the Board of Directors, we would like to express our highest gratitude and appreciation for the trust, commitment, and support from all stakeholders hence the Company is able to make a positive contribution to the achievement of the Company’s performance in 2024.
To the shareholders, the Board of Directors would like to express thanks for the trust in us to carry out the management functions that have been given. We would also like to express to the entire Board of Commissioners, we would like to show gratitude for the supervision, advice and direction given, so as to the management of the Company can be carried out properly and produce positive performance amidst the current challenges of the construction industry.
Finally, the Board of Directors would like to express our highest appreciation to all employees for their dedication and the best contribution that has been given to the Company. The Company will continue to uphold its commitment to produce the best performance in the future, especially to shareholders and all stakeholders.
On Behalf of the Board of Directors,
Hadian Pramudita
President Director