News

14 Jul 2015

Malindo Held AGM and EGM

Held at Ballroom 3 of Mulia Hotel Jakarta on June 11th 2015, the Commissioners and Directors of PT Malindo Feedmill Tbk together with the shareholders and the other invitees attended the shareholders Annual General Meeting (AGM) and shareholders Extraordinary General Meeting (EGM). This meeting and which is held once a year, is to present the company’s performance to the shareholders.

Following the conclusion of the AGM and EGM, a public expose was held and attended by national and online media, while Malindo management was represented by Tan Lai Kai, Rewin Hanrahan, and Rudy Hartono Husin. Rudy Hartono Husin explained that the company’s net loss in 2014 and in the 1st quarter of 2015 was caused by several factors, for example a decrease in DOC prices, increase in operational costs, foreign exchange currency loss and price increase in raw materials to produce animal feed. Rudy further elaborated, as current market conditions are not favourable, the company will delay several expansion projects budgeted for 2015 to 2016, for example, plans to build a new feedmill in Sumatra and some farms.

To enhance the performance of the company this year, the company will carry out business expansion in East Indonesia with a focused to the district of Manado, Palu, and Papua. The company also targets to expand its processed food business in both local and export markets through our subsidiary PT Malindo Food Delight. For the export market, PT Malindo Food Delight has received approval from Japanese government for the export of our processed chicken products and the moment we are discussing business to business terms with several Japanese buyers.

It was also decided during the AGM 2015 meeting to accept the resignation of three directors, namely, Tang Ung Lee, Ong Beng Siong, and Teoh Bee Tang and the appointment of three new directors, namely, Lau Joo Hwa, Lau Joo Keat, and Rudy Hartono Husin

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