PT Petrindo Jaya Kreasi Tbk (CUAN) Will Not Distribute Dividends for Financial Year 2023

AEINews – At the Annual General Meeting of Shareholders (AGMS) of PT Petrindo Jaya Kreasi Tbk (CUAN) which was held on Wednesday, June 5, it was decided that the company would not distribute dividends for the 2023 financial year. The management of the company owned by Prajogo Pangestu announced that the AGMS had approved the Company's Financial Report and Annual Report for the 2023 financial year, as well as ratified the Consolidated Balance Sheet and Profit and Loss Calculation for the year ending 31 December 2023.

Net profit for the 2023 financial year attributable to the owners of the parent entity, amounting to IDR 238.3 billion, will be recorded as retained earnings to support the company's operational activities. The GMS also gives authority to the Board of Commissioners to determine the honorarium and other appointment requirements for the selected Public Accounting Firm, as well as appoint a replacement Accountant if necessary.

In addition, the AGMS approved the Realization Report on the Use of Proceeds from the Public Offering of 1.69 billion shares with a total value of IDR 371.8 billion. The use of these funds is explained as follows:
IDR 7.9 billion was allocated for public offering costs.
IDR 218.5 billion was paid as capital to the subsidiary, PT Tamtama Perkasa.
IDR 27.1 billion was used for capital expenditure for the construction of the Intermediate Stockpile (ISP) and supporting infrastructure.

The remaining unused funds from the public offering amounting to IDR 118.3 billion were placed in a checking account at Bank Mandiri. The company will report the actual use of these funds to the OJK in accordance with applicable regulations.