Board of Commissioners Report


  • We express our gratitude to God Almighty for all His blessings bestowed upon as. Amidst the challenging political and economic conditions globally, we are thankful that the Company has successfully navigated through this year. 

    The ongoing geopolitical tension between Russia and Ukraine, unresolved conflicts in the Middle East, and the competition between the United States and China have contributed to the slowdown in global economic recovery. The world economy also faces challenges with a slower decline in inflation.

    Although the growth rate is slightly lower than in 2023. Indonesia managed to record an economic growth of 5.03%, higher than the average growth rate of ASEAN countries. 


    1. Assessment of the Directors’ Performance in Managing the Company

    The Board of Commissioners highly appreciated the performance of the Directors in managing the Company. The increase in sales volume compared to the previous year indicates that the marketing and sales strategies implemented by the Directors were effective, although still below the set targets. On the other hand, we noted a decline in the gross profit margin due to the trend of declining selling prices triggered by the drop in crude oil prices and the weakening of the Rupiah against the United Stated Dollar, especially in the last quarter of 2024, which affected the Company’s net profit. We encourage the Directors to continue seeking innovative ways to maintain and enhance the Company’s profitability in the future.


    2. Supervision by the Board of Commissioners

    Throught 2024, the Board of Commissioners conducted various forms of supervision to ensure the Company operated in accordance with Good Corporate Governance principles. We consistently paid close attention to the implementation of strategies executed by the Directors and their alignment with the Company’s established medium – and long-term plans.

    The Board of Commissioners held regular meetings with the Directors to discuss the Company’s developments and routinely review financial and operational reports. Additionally, we evaluated the policies and strategies implemented by the Directors and provided constructive feedback to improve the Company’s performance. The Board of Commissioners and the Directors uphold the principle of mutual respect for each other’s authority within a well-established working relationship.

    In carrying out supervisory duties and responsibilities in Corporate Governance, the Board of Commissioners is assisted by the Audit Committee in reviewing the Company’s Financial Statements, the independence of Public Accountants, the adequacy of internal controls, and in evaluating the total remuneration packages for the Board of Commissioners and the provisions. Based on the recommendations of the Audit Committee and a thorough evaluation of the Company’s audited Consolidated Financial Statements for the year ending December 31, 2024, the Board of Commissioners has approved and accepted the financial statements    .


    3. The Board of Commissioners’ Views on Business Prospects and Company Strategies to Achieve Targets

    The dynamic global economy is expected to pose challenges to future economic performance. High global interest rates impact the limited capital inflows to developing countries, putting pressure on the exchange rates of emerging market currencies, including Indonesia.

    In 2025, the Indonesian economy is expected to remain strong with household consumption activities and controlled inflation. The fiscal policies formulated by the Government are expected to address both external and internal challenges.

    The Board of Commissioners views the business prospects prepared by the Directors as very positive. We support the product diversification and market expansion strategies planned by the Directors to achieve higher targets. We also recommend that the Directors continue to focus on operational efficiency and risk management.


    4. Appreciation to All Stakeholders

    The Board of Commissioners would like to extend our highest gratitude and appreciation to all stakeholders for their support and contribution throughout 2024. The Company’s success is due to the good cooperation between management, employees, business partners, and shareholders. We hope this excellent cooperation continues and becomes even stronger in the future.

    Thank you for your attention and cooperation. We look forward to 2025 within optimism and confidence in achieving better progress.




    -bt25-

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