06 August 2020

Metland Booked IDR487 Billion in Profits

The property issuer PT Metropolitan Land Tbk (Metland) with ticker code MTLA held an Annual General Meeting of Shareholders (AGMS) and an Extraordinary General Meeting of Shareholders (EGMS) to report the financial year ending on 31 December 2019 (6/8).

In the 2019 financial year, Metland recorded a net profit attributable to owners of the parent entity of IDR487 billion. One of the results of this Annual General Meeting of Shareholders was to agree to distribute cash dividends of IDR48.23 billion from the net profit for the 2019 financial year, approximately 10% of profit, or IDR6.30 per share to 7,655,126,330 number of shares in accordance with applicable laws and regulations.

Approval of changes to the composition of the company's Board of Commissioners was also an important outcome of the Meeting held at Hotel Horison Ultima Bekasi. The change in the Board of Commissioners was due to the resignation of Aldo Brasali from the position of Commissioner who was replaced by Iwan Brasali and the death of President Commissioner Dr. Ir. Ciputra who was replaced by Junita Ciputra.

In the midst of slowing macroeconomic growth due to the global Covid 19 pandemic, Metland continues to innovate, facilitate and reduce costs as well as digital marketing strategies, especially in residential projects, to provide a stimulus that is hoped to regenerate people's purchasing power. Up to June 2020, Metland recorded revenues of IDR390 billion and net profit of IDR88 billion.

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