PT Natura City Developments Tbk (CITY) held an Extraordinary General Meeting of Shareholders (EGM) and Public Expose. This activity was held at the Neo Green Savana Hotel, Sentul City, Bogor, on Tuesday, October 3 2023, at 14.00 WIB – Finish.

At the EGMS there was a meeting agenda regarding changes to the composition of the Company’s Board of Directors and Board of Commissioners. The parties attending or representing the meeting are shareholders of PT Natura City Developments Tbk whose names are recorded in the shareholder register. Likewise with the Public Expose agenda, namely a presentation on the company profile, the development of Serpong Natura City, a presentation on the company’s financial performance and closing with a question and answer session.

The EGMS agenda concerns the replacement of the management composition of the Company’s Board of Directors and Board of Commissioners, namely Mr. RIO TINTO SIRAIT, who served as Independent Commissioner of the Company, resigned and was replaced by Mr. BAMBANG SUMANTO. Meanwhile, Mr. RIO TINTO SIRAIT was appointed by the Meeting as Director of the Company.

The following is the composition of the Company’s Board of Commissioners and Directors:

BOARD OF COMMISSIONERS:

Presidential Commissioner :  JAMES FREDERICK KWEE;

Commissioner :  YULI DWI KUSMADI;

Independent Commissioner :  BAMBANG SUMANTO;

BOARD OF DIRECTORS:

President Director :   ELFI DARLIS;

Director :   JOSE FRANCIS B ACANTILADO;

Director: RIO TINTO SIRAIT.

This Public Expose was attended by the Commissioners and Directors of the Company, namely Mr. Yuli Dwi Kusmadi as Commissioner of the Company, Mr. Bambang Sumanto as Independent Commissioner of the Company, Mr. Elfi Darlis as President Director, Mr. Jose Francis B Acantilado as Director of the Company, and Mr. Rio Tinto Sirait as Director Company, and also attended by shareholders, investors and the media.

In this Annual Public Expose, Mr. Elfi Darlis said that throughout 2023 the Company will not carry out any corporate actions, there will be no changes in share composition, so that the registered shares to date are 5,405,188,966 shares.

The demand for housing has not yet recovered, making it difficult for the Company to achieve the minimum sales target that has been set. This caused the Company to experience a decrease in revenue of 53.84% in 2022 to IDR 36.27 billion, compared to 2021 of IDR 78.58 billion. The company also recorded a net loss of IDR 21.28 billion in 2022, compared to a profit in 2021 of IDR 1.26 billion due to high operating expenses.

The decline in sales above automatically also has an impact on the Company’s financial performance. The Company’s total assets in 2022 decreased by 1.82% to IDR 933.97 billion, compared to IDR 951.33 billion in 2021. The Company’s equity also decreased by 2.25% to IDR 854.64 billion in 2022, compared to IDR 874.34 billion in 2021. Although short-term liabilities decreased, total liabilities in 2022 increased by 3.04% to IDR 79.33 billion, compared to IDR 76.99 billion in 2021.

2022 will be a very difficult year for the Company, however, the Company remains guided by its vision and mission as a provider of quality housing for the community. Housing construction continues, and is accompanied by continued construction of supporting facilities. This is in line with the Company’s commitment to residents, as well as ensuring that prospective residents choose the right and quality residential dream. In 2023, the Company plans to build around 150 housing units, this is proven by the successful sales of the Riverside Cluster which was just launched in early 2023. Currently, there are 69 housing units in progress.

With many challenges in 2023, this does not reduce the Company’s enthusiasm for working and providing the best for Serpong Natura City consumers. This is marked by the Company’s commitment to completing existing supporting facilities in the Serpong Natura City Housing area such as the completion of the construction of a Club House which can be used by residents, major renovations to the Sales and Marketing office, construction of coffee shops throughout Indonesia which are estimated to be will open in November 2023, permits have been obtained for the construction of a large mosque in the Serpong Natura City area, and so on.