On this day, Wednesday, 27th April of 2011, PT Astra Otoparts Tbk (the “Astra Otoparts” or the “Company”) convene the Anual General Meeting of Shareholders (the “Meeting” or the “AGMS”). The following are the resolutions/determinations that have been decided on such AGMS :
Approval of Annual Report and Ratification of the Company Financial Report for Fiscal Year 2010
1. To approve the Annual Report including ratification of Board of
Commissioners Supervisory Report and ratification of Consolidation
Financial Report for fiscal year 2010, and
2. To fully discharge on responsibilities (acquit et decharge) to all members of
the Board of Directors and the Board of Commissioners.
Allocation of the Use of the Company Profit
To approve the use of the Company net profit for fiscal year that ended on December 31, 2010 in ammount of IDR 18.104.22.1688.275,- (one trillion and one hundred and fourty one billion one hundred and seventy nine million three hundred and ninety eight thousand and two hundred and seventy five Indonesian Rupiah) for the followings:
1. Allocated as cash dividend in amount of IDR 456.525.109.760,- (four
hundred and fifty six billion five hundred and twenty five million one
hundred nine thousand and seven hundred and sixty Indonesian Rupiah) or
around 40% from net profit of fiscal year 2010 or about IDR 592,- per
share, where :
Counted as interim dividend in amount of IDR 121.842.850.240,- (one
hundred and twenty one billion eight hudred and forty two million eight
hudred and fifty thousand two hundred forty Indonesian Rupiah) or
around IDR. 158,- per share that allocated on November 4, 2010.
The remainder in amount of IDR 334.682.259.520,- (three hundred and
thirty four billion six hundred and eighty two two hundred and fifty nine
thousand and five hundred twenty Indonesian Rupiah) or around IDR
434,- per share that will be distributed on June 10, 2011, to the all
Company shareholders which names recorded in the Company
Shareholders List (Recording Date) on May 26, 2011 at 16.00
Indonesia Western Time.
To authorized the Board of Directors for conducting allocation of cash
dividend and for conducting all necessaries action.
2. Determining Reserved Fund for IDR 7.5 Billion.
3. The remainder recorded as Company Retained Earnings to be utilized for
working capital and investment.
a. Appointment of the members of the Board of Directors and The Board of
Commissioners of the Company.
Approved the appointment of the members of the Board of Directors and the Board of Commissioners of the Company, with the composition as follows:
President Director : Siswanto Prawiroatmodjo
Director : Gustav Afdhol Husein
Director : Djangkep Budhi Santoso
Director : Darmawan Widjaja
Director : Dandy Soelip
Director : Robby Sani
Director : Niniek Dhamayanti Supojo
Director : Aurelius Kartika Hadi Tan
President Commissioner : Johnny Darmawan Danusasmita
Vice President Commissioner : Widya Wiryawan
Commissioner : Sudirman Maman Rusdi
Commissioner : Simon Collier Dixon
Commissioner : Chiew Sin Cheok
Commissioner : Leonard Lembong
Independent Commissioner : Eduardus Paulus Supit
Independent Commissioner : Bambang Trisulo
Independent Commissioner : Muhamad Chatib Basri
Independent Commissioner : Patrick Morris Alexander
b. Determination of salary and/or benefit of the members of the Board of
Director and Honorarium of the members of the Board of Commissioners
of the Company
1. To grant power and authorization to the Board of Commissioners of the
Company to determine and establish the salary and/or benefit for the Board
of Directors of the Company, and
2. To establish the honorarium of the members of the Board of
Commissioners in maximum ammount of IDR 2.390.000.000,- (two billion
and three hundred and ninety million Indonesian Rupiah) per year before
deduction for income tax that apply from May 2011 until the closing of the
General Meeting of Shareholders in 2012, and grant authorization to the
President Commissioner for determining the allocation.
Determination of Public Accountant for Conducting Audit of the Company Annual Report for Fiscal Year 2011 and Determination of Honararium of Such Public Accountant
Granting Authorization to the Board of Directors, with the Board of Commisioners approval, to appoint public accountant office which affiliated with one of the fourth major international public accountant office, and listed at BAPEPAM and LK for conducting audit of the Company Annual Report for fiscal year 2011, and granting authorization to the Board of Directors to establish the amount of honorarium and others terms connected with such public accountant office appointment.
Approval of Splitting the Nominal Values of Shares (Stock Split) and amendment of the Article 4 of the Company Article of Association related to the splitting the Nominal Value of Shares
1. (i) To approve the splliting of nominal value of shares (stock split) in the
commencement is IDR. 500,- (five hundred Indonesian Rupiah) per
share, to IDR 100,- (hundred Indonesian Rupiah) per share or with
ratio 1 share splitted to 5 shares.
Accordingly with the existence of this splitting :
- Number of the Company shares increase from 2 billion to 10 billion of
- Number of Company shares that allocated and placed increased from
771,157,280 to 3,855,786,400 shares.
(ii) Granting authorization to the Company Board of Directors to establish
and announce the schedule and technique of implementation of Splitting
the Nominal Values of Shares (stock split) while of the provisions of
legislation in force.
2. To approve the amendment of the Article 4 especially paragraph 1 and 2 of
the Article of Association concerning the number of shares and nominal of
shares of the Company.
Consolidated Financial Performance of PT Astra Otoparts Tbk During 2010
The Net Revenue of Astra Otoparts rose by 18.8% from Rp 5.27 trillion in 2009 to Rp 6.26 trillion in 2010. The increase was due to, primarily, the rise of domestic automotive production which led to boost automotive parts sales to the Original Equipment for Manufacturers (OEM). The Company also recorded a sales increase in Replacement Market (REM), as well as Exports Market.
The Company recorded a Gross Profit of Rp 1.15 trillion, or a 21.5 % increase compared to Rp 948.6 billion recorded last year. This increase was due to the Company’s ability to boost its Net Revenue, followed by a series of the efficiency programs to minimize the Cost of Revenue.
The total Operating Expenses rose by 9.6 % to Rp 579.5 billion in 2010, compared to Rp 528.6 billion in previous year. The increase of the expenses was due to the rise in Sales Expenses by 21.1% and General & Administrative Expenses by 3.8%, which related to increase of Net Revenue.
The efficiency measures lowered the percentage of Operating Expenses in Net Revenue from 10.0% in the previous year to 9.03% in 2010. This affected to increasing of Operating Income by 36.5% from Rp 420.0 billion to Rp 573.1 billion.
The Company recorded a significant increase of 49.3 % in the Equity in Net Income of Associates and Jointly Controlled Entities from from Rp 509.8 billion in the previous year to Rp 761.2 billion in 2010. The income among others mostly originated from affiliated companies that produce shock absorber, clutch disc/clutch cover, door frame, door lock, brake system (disc and drum), rear axle, propeller shaft, automotive & motorcycle battery, air conditioner, compressor, spark plug, radiator, alternator, stick coil, gasket, and engine valve.
The Company recorded 48.5% increase in Net Income from Rp 768.3 billion in last year to Rp 1,14 trillion in 2010. This increase partly due to its success to boost Net Revenue and minimizing both the Cost of Revenue and Operating Expenses, and also a rise in Equity in Net Income of Associates and Jointly Controlled Entities.
Jakarta, April 27, 2011
Jl.Pegangsaan Dua Km 2,2 Kelapa Gading, Jakarta Utara
Telp : 62 21 460 3550 (Hunting)
Fax : 62 21 460 3549
Website : www.component.astra.co.id
Email : email@example.com