Mitrabara AGMS Adi Perdana Approves Dividend Distribution Of IDR 46.64 Billion

JAKARTA - PT Mitrabara Adipandana Tbk (MBAP) at the Annual General Meeting of Shareholders (AGMS) approved the distribution of dividends worth IDR 46.64 billion for the 2024 financial year.

President Director of MBAP Khoirudin said that the achievements in 2024 were driven by the growth of new business pillars run by subsidiaries.

"We recorded positive progress from the company's sustainability strategy, along with our efforts to develop a diversified and sustainable subsidiary," said Khoirudin quoting Antara.

In the midst of dynamic operating conditions, the company recorded a consolidated net profit in 2024 of 19.14 million US dollars, supported by net income which reached 217.91 million US dollars.

Khoirudin explained that the company's new energy renewable business pillar (EBT), namely biomass energy, which is currently still under construction at the wood pellet factory in Malinau, is still on schedule, to complete its construction by the end of 2025.

Meanwhile, for Solar Energy Solar Solar Radiance, the company is recorded to have an installed capacity of 12.8 mega watt peak (MWp) in 2024.

"The construction of a wood pellet factory facility by a subsidiary, namely PT Malinau Hijau Lestari (MHL) in Malinau Regency, North Kalimantan is designed with a production capacity of 150,000 tons per year to meet the needs of the main raw material for biomass energy production", said Khoirudin.

Through its subsidiary, he continued, the company expands business activities outside the coal mining sector, which includes new business fields in the fields of EBT, Agro Industry, mining infrastructure and services.

Throughout 2024, the procurement of solar panels carried out by subsidiaries has succeeded in attracting new commercial and industrial customers. In less than two years, the total value of installed installations reached 12.8 MWp.

Then, the acultural business sector celebrates the first phase of shrimp harvest in 2024, through the operation of 20 vannamei shrimp ponds in Bima Regency, West Nusa Tenggara, with a total production target of 168 tons/year.

"The construction of 100 pond ponds is going according to plan and will operate in full by 2025, with a production target of 1,800 tons per year," said Khoirudin.

Meanwhile, for infrastructure business activities and mining services, the subsidiary of PT Mitra Muda Makmur (MMM) reported the realization of mining services reaching 4.3 million BCM by the end of 2024, as well as securing mining services contracts worth 53.55 million US dollars until 2027.

Throughout 2024, the company's coal mining business pillar posted sales of 2.27 million tons, or an increase of 7 percent year on year (yoy) compared to the previous year.

"Reclamation work is going according to plan, which includes revegation activities in all mining areas, supported by efforts to convert former mining land into Integrated Farming," said Khoirudin.

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