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PT Telekomunikasi Indonesia Tbk, commonly known as Telkom (JO:TKGJ) Indonesia, with a market capitalization of $17.48 billion, held its Annual General Meeting of Shareholders for the 2024 financial year on Friday, May 27, 2025, in Jakarta. The meeting was attended by members of the Board of Commissioners and the Board of Directors, along with shareholders representing 87.75% of the total shares with voting rights.
Key resolutions from the meeting included the approval of the 2024 Annual Report and the ratification of the company’s consolidated financial statements, which were audited by the firm Purwantono, Sungkoro & Surja, a member of Ernst & Young Global Limited. The financial statements received an unqualified opinion.
The shareholders also approved the distribution of a cash dividend totaling 89% of the company’s net profit for the fiscal year 2024, amounting to IDR 21.05 trillion, or IDR 212.47 per share. The remaining 11% of the net profit will be retained for business development purposes.
Additionally, the meeting resolved to appoint a public accounting firm, Purwantono, Sungkoro & Surja, to audit the company’s financial statements for the 2025 fiscal year. The shareholders granted authority to the Board of Commissioners to determine audit fees and appoint replacement auditors if necessary.
A significant agenda item was the approval of a share buyback plan, allowing the company to repurchase shares worth up to IDR 3 trillion, subject to regulatory requirements. The company’s strong financial position, with a moderate debt-to-equity ratio of 0.45 and an attractive free cash flow yield of 8%, supports this initiative.
Changes in the company’s management were also announced. Several members of the Board of Directors and Board of Commissioners were honorably dismissed, and new appointments were made to various positions, including the roles of President Director and President Commissioner. For detailed analysis of management effectiveness and comprehensive financial metrics, explore the full company report on InvestingPro.
The resolutions were based on a press release statement filed with the Securities and Exchange Commission (SEC).
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