Board of Commissioners Report
  • Dear Shareholders,

    Thanks to God Almighty for His blessing to all of us. In 2017, the Company performed very well.

    Amid the ongoing global economic recovery, Indonesian economic grew 5.1% in 2017. The growth was driven by strong flow of investments and increase of consumption. The inflow of foreign capital to Indonesia helped stabilize Rupiah in line with positive internal and external developments. Inflation in 2017 was controlled at 3.61% which was relatively low, but was slightly higher than that in 2016.

    The growth of national economy, relatively stable crude oil price though slightly increase compared to 2016 and implementation of all strategies by the management brought good results to the 2017 Company performance.

    The Directors success in managing the Company was reflected in the Company Financial condition which improved from the previous year. In 2017 the Company recorded USD 17.65 million of consolidated profit before tax which was an increase of 54.79% from 2016. Profit for the year in 2017 was recorded at USD 11.93 million, a reduction compared to net profit in 2016. In 2016, the Company recorded income tax benefit of USD 13.61 million after performing the revaluation of fixed assets for taxation purpose. For comparison purposes, if the income tax benefit were not counted, then the Profit for the year 2017 would have increased by USD 4.38 million or 58.75% compared to Profit for the year in 2016.

    The Company achievement in 2017 proves that the policies taken and strategies implemented by the Directors have improved and grew the Company. Therefore, we as the Company Board of Commissioners, appreciate the Directors who have successfully managed the Company in the competitive and challenging market. The Board of Commissioners also ensures that the strategy implemented by the Directors is in accordance with the long-term achievement policy.

    Based on the recommendation of Audit Committee and after carefull evaluation of the Company's audited, consolidated financial statements for the year ended on 31 December 2017 audited by the Public Accounting Firm Purwantono, Sungkoro and Surja in their report No. RPC-5999/PSS/2018 dated March 28, 2018 who gave an opinion that the Company financial statements was fairly presented. The Board of Commissioners accepted and approved the financial statements.

    The national economy in 2018 is expected to grow at 5.4%. higher than 2017. Investments are also projected to increase more rapidly in line with the recovery of commodity prices and improved investor confidence in our country.

    The Board of Commissioners has reviewed the business prospects and work plan of the Directors for the coming years. In 2018, it is expected that the movement of crude oil prices will remain stable, the global economic recovery will continue and the domestic economic growth will be in accordance to the Government Work Plan. Entering 2018 when simultaneous election will be held, it is expected that the political and security situation remains conducive. With this condition, it is expected that the growth prospect of detergent industry in Indonesia will grow and give maximum value to shareholders.

    In consideration of current business condition, we assess that the Directors have carefully considered the future business prospect. We believed that the Director will take necessary measures to improve the business and financial performance of the Company, which will bring added value to the Shareholders. We also believe that the Directors will implement the cautious principles in making decisions and always uphold the business ethics to ensure the the sustainability of the Company's business.

    In the implementation of Good Corporate Governance (GCG), the Board of Commissioners is assisted by the Audit Committee in reviewing the Company financial statements, independency of public accountant, the adequacy of internal control, as well as in evaluating the total remuneration package for Board of Commissioners and Directors as well as the Company's compliance to the prevailing rules and regulations.

    Implementation of GCG in the Company continued show a good progress. The Company continuously attempts to improve the mechanisms, structures and functions of the Company's bodies that support the creation of GCG.

    The Board of Commissioners exercises supervision by giving advice or recommendation in managing the Company or in implementing the strategic policies and Directors duties and responsibilities through regular meetings and special meeting when required.

    Last but not least, we would like to thank greatly to the management and employees for their dedications, hard works and continuous efforts in improving the Company performance. We realize that all these will not happen without the cooperation and support of business partners, creditors, suppliers, customers and shareholders all these years.


    -j

Investor Relations
  • Board of Commissioners Report
  • Directors Report
  • Management Discussion and Analysis
  • Consolidated Statements of Comprehensive Income
  • Consolidated Statements of Financial Position
  • Financial Highlights Graphics
  • Ratio Analysis
  • Business Prospect and Strategy
  • Competitive Advantage and Risk Management
  • Shares, Dividends and Chronology of Company Listing
  • The Significant Laws and Regulations Changes
  • Annual Reports
  • Quarterly Financial Statements