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MPMX Presents Achievement Highlights of 2017 with Long-Term Planning


JAKARTA, 8 November 2017 – As PT Mitra Pinasthika Mustika, Tbk (IDX Ticker: MPMX, “Company”), Indonesia’s smart mobility company entering the final quarter of 2017, Group CEO MPMX Rudy Halim reflected on the Company’s third quarter’s earnings results, on which MPMX posted consolidated net profit after tax and minority interest (NPATMI) of Rp 363 billion in the first 9 months of 2017, approximately 25% increase from the same period last year, saying “the buoyant result was a result of our continuous efforts during the past 18 months in repositioning our businesses towards future growth. By gaining stronger balance sheet and better operations margin, we can look ahead to expand our existing asset base and reinvest into developing new business models that could create sustainable superior profits for the Company”.
 
One of the highlights during the third quarter was the Company’s signing of Dual Tranche Club Deal Facility of USD 150 Million and Rp 1,25 Trillion with 8 international and local banks. The agreement was part of MPMX’s strategic long-term planning to optimize its capital structure which results in various benefits to the Company, including lowering cost of funds which in turn results in savings of approximately Rp 80 billion annually for the next five years, exceeding the one-time cost of redemption of the bonds. Furthermore, the dual tranche also help the Company mitigate the uncertainty of the future US-dollar interest rate movement against the Company’s Rupiah-denominated revenue streams.  Lastly, this new facility gives more flexibility for the Company to pursue future business growth through mergers and acquisitions.
 
“As the US-dollar interest rate environment remains volatile, it is crucial that we make proactive planning to explore and secure various funding structures and sources in the most efficient way when we plan our growth. This is one of the key fundamentals which we seek to improve in order to enable us to go full throttle next year ”, Rudy said.
Another key step that the Company took this year, was the payout of interim cash dividend during its Extraordinary General Meeting of Shareholders (EGMS) held in October, which sets a new record for the MPMX’s dividend history and reflects the confidence that the Company will continue to generate positive and growing cash flows moving forward. “We will reinvest for growth in the next few years but at the same time we are confident and committed to continue with a stable dividend policy”, Rudy added.
 
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About PT Mitra Pinasthika Mustika Tbk
 
MPM is a leading Indonesian company with a vision to positively impact lives through smart mobility and social integration. By collective power, we aim to deliver the most relevant products and services to the people in our ecosystems through innovation. Our businesses offer a broad spectrum of mobility solutions, from retailing and distributing motorcycles and cars, after-market parts and services, transportation and logistic services, and financial services. MPM is Indonesia’s mobility ecosystem and we will continue to create smarter mobility solutions to help Indonesia integrate better than ever before.
 
For further information, please visit www.mpmgroup.co.id or contact:
 
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