Astra Otoparts
English | Indonesian
 
   
 
Home » News » Press Release
 
 
Corporate News
Press Release
 
Result of AGMoS 2017 of PT Astra Otoparts Tbk

13-Apr-2017

On Wednesday, April 12th, 2016, PT Astra Otoparts Tbk (“Astra Otoparts” or “Company”) has held Annual General Meeting of Shareholders (“Meeting” or “AGMoS”). The followings are the resolutions:

First Agenda
Approval of Annual Report, including ratification of Supervisory Report of the Board of Commisioners and Consolidated Financial Statements of the Company for financial year of 2016

1.    Approve and accept the Annual Report of 2016, including ratification of Supervisory Report of the Board of Commissioners and Consolidated Financial Statements of the Company for financial year of 2016, which has been audited by Tanudiredja, Wibisana, Rintis & Rekan, as set forth in the report Number A170220059/DC2/JMD/2017 dated February 20th, 2017 with reasonable opinion in all material respect; and

2.    Granted acquittal and full release from responsibilities (acquit et de charge) of their management and supervisory actions during fiscal year of 2016, as far as those actions are reflected in the Annual Report and Consolidated Financial Report of the Company, year of 2016.

Second Agenda
Determination on appropriation of the Company’s net profit for the fiscal year of 2016
    
Approve the appropriation of the Company’s net profit for the fiscal year ended on 31st December, 2016 in the amount of Rp 418,202,695,512.- for the following matters:

1.    a. Distributed as cash dividend in the amount of Rp 168,690,655,000.- or circa 40% of net profit in fiscal year of 2016 or in the amount of Rp 35.- per share with the details as follows:

•    In the amount of Rp 43,377,597,000.- or in amount of Rp 9.- per share was distributed on October 17th 2015 as interim dividend.
•    The remaining, amounted to Rp 125,313,058,00.- or in the amount of Rp 26.- per share will be distributed on 12th May, 2017 to the shareholders of the Company whose names recorded in the Shareholders Register (Recording Date) on May26th, 2017 at 16.00 Western Indonesia time,

b. To confer authority to the Board of Directors of the Company to execute the distribution of aforementioned cash dividends and to carry out any necessary actions in accordance to the tax provisions, the provisions of Indonesia Stock Exchange and other applicable capital market regulations.

2. Stipulate special Reserves pursuant to Article 70 LLC Law (UUPT) in the amount of Rp 3,894,600,000.-

3. The remaining will be recorded as the Retained Earnings of the Company to finance working capital and investment.

Third Agenda

a. Changes in Composition of Board of Directors and Board of Commisioners of the Company

(1) To approve the appointment of the member of the Board of Directors and the Board of Commissioners, for the term of office from the closing of this Annual General Meeting of Shareholder of the Company in the year 2017 until the closing of the Annual General Meeting of Shareholders of the Company in ther year 2019 with the following composition:

President Director            : Hamdhani Dzulkarnaen Salim
Independent Director            : Djangkep Budhi Santoso
Director                : Hugeng Gozali
Director                : Aurelius Kartika Hadi Tan
Director                : Lay Agus
Director                : Kusharijono
Director                : Yusak Kristian Solaeman
Director                : Agus Baskoro

President Commissioner        : Djony Bunarto Tjondro
Vice President Commissioner        : Johannes Loman
Independent Commissioner        : Agus Tjahajana Wirakusumah
Independent Commissioner        : Bambang Trisulo
Independent Commissioner        : Angky Utarya Tisnadisastra
Commissioner                : Sudirman Maman Rusdi
Commissioner                : Gunawan Geniusahardja
Commissioner                : Chiew Sin Cheok

(2) Authorize the Board of Directors with the right of substitution, to declare the meeting resolution regarding to alteration of Board of Directors in a separate deed before Notary and to ask for notification to the Minister of Justice and Minister of Human Rights of Republic of Indonesia in regard with the alteration of Company's Board of Directors, also to perform all acts, necessary and required by the legislation.

b. Determination of salaries and/or allowances of Board of Directors and honorarium of board of commissioners of the Company

1.    To confer power and authority to Board of Commissioners of the Company to determine and decide the salary and/or remuneration for the members of Board of Directors of the Company in regard with advises from company’s Remuneration and Nomination Committee; and,

2.    Determine the honorarium for members of the Board of Commissioner of the Company with maximum total amount of Rp 2,874,248,000.- per year before income tax paid as much as thirteen times which will be effective after AGMS 2017 until end of AGMS 2018, and to confer authority to the President Commissioner to determine such honorarium distribution for the members of the Board of Commissioners of the Company in regard with advises from company’s Remuneration and Nomination Committee.

Fourth Agenda
Appointment of public accountant firm to audit consolidated Financial statements of the Company for financial year of 2017 and determination of its honorarium.

Confer authority to Board of Commissioners for:

1.    To appoint public accountant firm which is affiliated with one of the big four international public accountant firm and registered in financial services authority (OJK) to audit financial report of the Company for financial year of 2017; and

2.    To confer authority to Board of Directors of the Company to determine honorarium and other requirements related to the public accountant firm appointment.

Consolidated Financial Performance of PT Astra Otoparts Tbk Year 2016

In 2016, PT Astra Otoparts Tbk recorded Net Revenue of Rp 12.8 trillion, increased 9.2% compared to Net Revenue in 2015 which was amounted to Rp 11.7 trillion. This increase was in line with an increase in net revenue of 7.6% and 11.2% in manufacturing and trading business, respectively. Export market, which is part of the trading business, also grew by 5.4% in 2016.

The increase of net revenue in manufacturing business was supported by the higher demand in four wheelers market and the successful launch of new models, despite lower demand of two wheelers market. Meanwhile, the increase in replacement market (REM) sales was supported by the growth of national distribution network through additional one new sales office and two main dealers in 2016. Furthermore, the Company also enjoyed better contribution from “Shop&Drive” which gain better recognition in the market.

Gross Profit in 2016 was Rp 1.9 trillion or increased by 7.1% compared to Rp 1.7 trillion in 2015. Such increase was due to management’s efforts and strategies to improve the effectiveness and efficiency in production/operation process following the increasing net revenue, both in manufacturing and trading business.

Operating Expenses in 2016 increased to Rp 1.4 trillion or 3.7% compared to 2015 (Rp 1.3 trillion). Within it, selling expense was increased by 4.1% to Rp 665.8 billion, from Rp 639.7 billion in 2015, mainly due to increasing employee expense in accordance with minimum wage stipulated by government, increasing rent expense especially from retail stores, and increasing in delivery cost in line with higher sales volume. This increased was offset with the cost efficiency in advertising and promotion expenses. General and administrative expense was also increased  by 3.5% to Rp 739.7 billion, from Rp 714.9 billion in 2015. Such increase was mainly due to increasing employee cost in administration function while offset with cost efficiency programs in all operational units within the Company.

Share of result from associates and joint ventures contributed Rp 229.8 billion to the Company in 2016, or significantly increased by 629.5% from Rp 31.5 billion in 2015. This significant increase was a result of the demand growth in automotive industry especially from four wheelers, a more stable Rupiah against USD & JPY, and favorable commodity prices during 2016.

Due to the various conditions mentioned above, the Company’s net income in 2016 was increased by Rp 99.6 billion or by 31.3% to Rp 418.2 billion, compared to prior year (Rp 318.6 billion).
     
     
 
   
Copyright © 2017 PT Astra Otoparts Tbk. All Rights Reserved. Powered by Menaravisi