Amid Covid-19 Pandemic, Astra Agro Records Positive Performance
JAKARTA- 2019 is a year full of challenges for the palm oil industry. CPO prices dropped significantly and had touched the lowest level of USD 497 / ton at the beginning of the second half of 2019. In addition, palm oil productivity also declined due to the impact of the long period of dry season in 2018 and mild El Nino in Indonesia in 2019. CPO prices increased during the last 2 months of 2019, giving a positive signal to the palm oil industry after the implementation of the mandatory B30 program by the Government of the Republic of Indonesia which has a positive impact on domestic palm oil absorption.
At the 2020 AGMOS, Astra Agro’s shareholders approved the 2019 annual report, including the ratification of the Company’s Board of Commissioners’ supervisory report, and the ratification of the Company’s consolidated financial statements for 2019, the determination of the use of the Company’s net profit, and changes in the composition of the Company’s management (the Board of Commissioners).
President Director of Astra Agro Santosa said the fall in CPO prices throughout 2019 had affected the company’s performance. “Astra Agro’s revenue in 2019 decreased 8.5% from Rp. 19.08 trillion to Rp. 17.45 trillion. Astra Agro’s net profit in 2019 reached Rp 211 billion,” Santosa said.
Santosa said that based on the AGMOS results, shareholders agreed to use 45% of the Company’s net profit as dividends. Or IDR 49 per share distributed as cash dividends. “The remaining net profit is recorded as retained earnings of the Company,” said Santosa.
At the AGMOS held on June 10, 2020, the shareholders decided to replace Djony Bunarto Tjondro with Johannes Loman as new commissioner, and appointed Ari Dono Sukmanto as Independent Commissioner.
The Board of Commissioners
President Commissioner: Chiew Sin Cheok
Commissioner: Johannes Loman
Independent Commissioner: Sidharta Utama
Independent Commissioner: Angky Utarya Tisnadisastra
Independent Commissioner: Ari Dono Sukmanto
President Director: Santosa
Vice President Director: Joko Supriyono
Director: Mario C. S. Gultom
Director: Rujito Purnomo
Director: M. Hadi Sugeng Wahyudiono
Director: Nico Tahir
Director: Said Fakhrullazi