MPMX Delivered Positive News of Dividend Distribution at the Annual General Meeting of Shareholders (AGMS)

JAKARTA, 27 May 2019 – PT Mitra Pinasthika Mustika Tbk (IDX Ticker: MPMX, "The Company"), Indonesia’s leading consumer automotive company, announced positive news on the Annual General Meeting of Shareholders (AGMS) held at the Company's office building, Kuningan, Jakarta.
In the Second Agenda, namely the Determination of the Use of the Company's Net Profit for 2018 (Profit Attributable to Owners of the Company) of IDR 3.7 trillion, the AGMS decides the use of the Company's net profit for 2018 financial year, as follows: MPMX delivered strong result of Net Profit 3.7 trillion in 2018, mainly supported by the strategic divestment of the lubricant business (PT Federal Karyatama). Since the Company received the divestment proceeds in June 2018, it has managed to fully prepay the Dual Tranche Loan amounting to USD 150 million and IDR 1.25 trillion. As a result, the balance sheet has been deleveraged allowing the Company to return significant values to its shareholders.
MPMX Group Chief Executive Officer, Suwito Mawarwati said, “This is part of the Company’s strategy to reward its shareholders through the combination of strong business growth and dividend distribution. When we look at our net profit and cash flow at the end of the year, it is always a fine balance to strike between re-investing in the company and rewarding shareholder.  We believe both goals are equally important, and they are our top priorities for the years to come.”
In the first quarter of 2019, MPMX successfully posted positive growth from all business segments with total revenue of Rp3.9 trillion, up 8.9% from the same period of 2018. This is an encouraging sign of strong growth of our existing businesses.
Suwito also added that there is still strong potential to unlock further growth of the existing businesses, such as MPMRent, MPMInsurance, and MPMFinance. “In terms of our strategic initiatives going forward, we are optimistic that the positive earnings result of first quarter 2019 will carry on through the rest of the year. Besides focusing on optimizing existing businesses, we are continuously searching for merger and acquisition opportunities in the Automotive industry. We believe the investments should come with reasonable valuations, sound business propositions, synergies with our existing platform, and light Capex spending going forward. Lastly, our strong balance sheet, post dividend distribution, will put us in a flexible position when it comes to liquidity and leverage. This is in line with our top priorities of re-investing in the company and rewarding shareholders in the future,” said Suwito at MPM’s Public Expose held after the AGMS in Jakarta, Monday (27/5).
MPMX’s dividend payout schedule is as follows:
No Description Date
1 The End of Stocks Trading Period With Dividend Rights (Cum Dividend)
  • Regular and Negotiation Markets
  • Cash Market
12 June 2019
14 June 2019
2 The Beginning of Stocks Trading Period Without Dividend Rights (Ex Dividend)
  • Regular and Negotiation Markets
  • Cash Market
13 June 2019
17 June 2019
3 Cut-off date for the Eligible Shareholders (Recording Date) 14 June 2019
4 Payment Date 28 June 2019
About PT Mitra Pinasthika Mustika Tbk
PT Mitra Pinasthika Mustika Tbk (“MPMX”) is a leading automotive consumer company in Indonesia, established in 1987 by William Soeryadjaya. MPMX is publicly listed on the Indonesian Stock Exchange and is majority owned by Saratoga Group. 
MPMX’s vision is to have a positive impact on life 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 services, and financial services.
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