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Covid-19 Pandemic, PPRO Remains Committed to Unit Handover

JAKARTA, 9 June 2021 – One of the property developers in Indonesia, PT PP Properti Tbk. (stock code: PPRO) has held the 2020 Annual General Meeting of Shareholders (“AGMS”) on Wednesday (9/6) at Plaza PP, Wisma Subiyanto – Jakarta. Shareholders have given their approval to all reports and plans of the Company as stated in the AGMS agenda.
The implementation of the AGMS was carried out with the covid-19 prevention protocol which refers to Governor Regulation No. 33 of 2020 concerning the Implementation of Large-Scale Social Restrictions in Handling Corona Virus Disease 2019 (Covid-19) in the Province of the Special Capital Region of Jakarta, article 10 paragraph 2, POJK No. 15/POJK.04/2020 concerning the Plan and Organizing of the General Meeting of Shareholders of a Public Company.

PPRO reports its financial performance for the financial year 2020 where the position of total assets is Rp. 18.58 trillion, revenue is Rp. 2.07 trillion with a net profit of Rp. 106 billion. PPRO’s shareholders have also approved the use of net profit distributable to owners of the company is Rp 89 billion to be set entirely as the Company’s reserve fund.

Deni Budiman, Director of Finance of the Company said “In 2021 PPRO will continue the process of handing over units that have been completed and marketed in previous years, several locations that will continue to be handed over include, Grand Sungkono Lagoon and Grand Dharmahusada Lagoon – Surabaya, Grand Kamala Lagoon – Bekasi, Begawan Apartment – Malang, Amartha View & The Alton – Semarang, Evenciio – Depok and The Ayoma Apartment – Serpong. In addition, PPRO continues the process of building apartment units that have been marketed for handover from 2022 onwards, including Louvin – Bandung, Permata Puri Cibubur (landed house) & Ma-Zhoji – Depok, and Grand Kamala Lagoon – Bekasi.”

In relation to the issuance of PMK 21/2021 concerning Value Added Tax on the Delivery of Landed Houses and Residential Units of Flats Borne by the Government, “We grateful the Government for the policies and support provided to the property industry, such as 0% VAT, lower loan interest rates, and Loan to Value (LTV) relaxation to increase property business growth in the pandemic era,” said Deni.

The PPRO Annual GMS determined a number of decisions, including:

  • Approved the Company’s Annual Report, including the Company’s Activity Report, the Supervisory Report of the Board of Commissioners, and the Ratification of the Company’s Financial Statements for the Financial Year ending on December 31, 2020;
  • Approved the use of the Company’s Net Profit for the Financial Year ending on December 31, 2020;
  • Approved the 2020 bonus, determination of salary and honorarium along with other facilities and allowances for members of the Board of Directors and Board of Commissioners of the Company in 2021;
  • Approved the appointment of a Public Accounting Firm to audit the Company’s Financial Statements for the 2021 Fiscal Year;
  • Report on the Realization of the Use of Proceeds from the Continuous Public Offering of Shelf Registration Bonds II PP Properti Phase I Year 2020 and Phase II Year 2021;
  • Approved the Inauguration of the Regulation of the Minister of State-Owned Enterprises Number:
    • PER-1/MBU/03/2021 dated March 1, 2021 concerning Guidelines for Proposing, Reporting, Monitoring, and Changes in the Use of Additional State Equity Participation to State-Owned Enterprises and Limited Liability Companies and their amendments;
    • PER-11/MBU/11/2020 dated November 12, 2020 concerning Management Contracts and Annual Management Contracts for the Directors of State-Owned Enterprises and their amendments; and
    • PER-2/MBU/2010 dated July 23, 2010 concerning Procedures for Write-off and Transfer of Fixed Assets of State-Owned Enterprises and their amendments;
  • Approved changes to the Company’s Articles of Association; and
  • Approved changes to the Company’s Management Composition.

  • The decision of the Company’s annual GMS determines the changes in the composition of the Board of Commissioners and Board of Directors as of the closing of this GMS, as follows:

    President Commissioner : Sinurlinda Gustina Manurung
    Independent Commissioner : Wahyu Indro Widodo
    Independent Commissioner : Aryanto Sutadi
    President Director : I Gede Upeksa Negara
    Finance Director : Deni Budiman
    Director of Operations I : Rudy Harsono
    Director of Operations II : T. Arso Anggoro
    Director of Business Development & Human Capital Management : Fajar Saiful Bahri


    About PT PP Properti Tbk :

    PT PP Properti Tbk (stock code: PPRO) is a BUMN subsidiary of PT PP (Persero) Tbk (stock code: PTPP). The Company was established in December 2013, but has had experience since 1991 and the Company has now been a listing company on the Indonesia Stock Exchange since May 2015. In 2017, the Company split its share value from Rp. 100 (one hundred rupiah) to Rp. 25 (twenty five rupiah). The Company has 3 (three) business segments, namely Residential, Commercial and Hospitality. Since 1991 until now The company developed around 53 projects including 35 Residential, 12 Mall & Edutaiment, and 6 Hospitality.

    For further information, please contact:
    Corporate Secretary
    Deni Budiman
    PT PP Properti Tbk.
    Plaza PP 7th Floor
    Jl. TB Simatupang No.57
    Rebo Market, Jakarta 13760
    Tel : 021 – 8779 2734
    Fax : 021 – 8779 2947

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