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REVISED ON INFORMATION DISCLOSURES TO SHAREHOLDERS
REGARDING THE ADDITION OF BUSINESS ACTIVITES OF
PT MANDOM INDONESIA Tbk
This Information Disclosure to Shareholders (“Information Disclosure”) aims to elucidate the plan of
PT Mandom Indonesia Tbk's to add business activities and to adhere to the stipulations set forth in
the Financial Services Authority Regulation Number 17/POJK.04/2020 regarding Material
Transactions and Changes in Business Activities.
PT MANDOM INDONESIA Tbk
(”the Company”)
Domiciled in Central Jakarta
Business sectors:
Manufacturing industry encompasses the chemicals and chemical products sector, the rubber
industry, the rubber and plastic products, as well as wholesale trade.
Head Office:
Wisma 46 Kota BNI, Suite 7.01, 7th Floor
Jl. Jend. Sudirman Kav. 1, Jakarta 10220
Telepon: 62-21-29809500
Faksimile: 62-21-29809501
Website: www.mandom.co.id
This Information Disclosure is issued in Jakarta on May 13, 2026.
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ABBREVIATIONS
KBLI Indonesian Standard Industrial Classification
KJPP MWH KJPP Munir, Wisnu, Heru, & Rekan
OJK Financial Services Authority
NIB Business Identification Number
PMA Foreign Direct Investment
POJK 15/2020 Financial Services Authority Number 15/POJK.04/2020 regarding the
Planning and the Implementation of the General Meeting of Shareholders
of Public Companies
POJK 17/2020 Financial Services Authority Regulation Number 17/POJK.04/2020
regarding Material Transactions and Changes in Business Activities
POJK 35/2020 Financial Services Authority Regulation Number 35/POJK.04/2020
regarding the Evaluation and Presentation of Business Assessment
Reports in the Capital Market
POJK 14/2025 Financial Services Authority Number 14 Year 2025 regarding the Electronic
General Meeting of Shareholders, Bondholders, and Sukuk Holders
GMS General Meeting of Shareholders
SPPL Letter of Commitment for Environmental Management and Monitoring
UKL Environmental Management Efforts
UPL Environmental Monitoring Efforts
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FOREWORD
This Information Disclosure is issued in relation to the plan of the Company to Incorporate Business
Activities that are not currently encompassed within the Articles of Association of the Company and
will be executed, specifically:
KBLI 68126: Warehouse Rental and Self-Storage Facilities
In compliance with the stipulations of POJK 17/2020, the Company is obligated to provide supporting
data to the OJK and secure approval from the GMS for the Addition of Business Activities. The
Company plans to request approval from Shareholders through the Extraordinary GMS scheduled for
May 19, 2026.
The areas of operation of the Company encompass the manufacturing industry, which includes the
chemicals and chemical products sector, the rubber industry, the rubber and plastic products, as well
as wholesale trade, excluding automobiles and motorcycles. To fulfill these purposes and objectives,
the Company may engage in the following business activities:
- Cosmetics industry for humans, including oral care products (KBLI No. 20232)
- Soap and household cleaning products industry (KBLI No. 20231)
- Plastic packaging industry (KBLI No. 22220)
- Wholesale trade of cosmetics for humans (KBLI No. 46443)
The Company conducts and generates revenue from the aforementioned business activities.
The process of incorporating business activities commences with adherence to the stipulations of
POJK 17/2020, which encompasses approval from the GMS. As a PMA company, the Company must
comply with the licensing requirements for warehouse rental business activities as outlined in
Government Regulation Number 28 of 2025 regarding Risk-Based Business Licensing. The licensing
will be processed subsequent to the Company securing GMS approval. These permits include the
following:
1. PMA investment licensing through the submission of a NIB, categorized under KBLI 68126 for
Warehouse Rental and Self-Storage Facilities.
2. Environmental management permit/approval, specifically, the Company must prepare
environmental management and implementation reporting documents in the form of SPPL, UKL,
and UPL.
3. Permits pertaining to operational support, specifically the technical submission of a Warehouse
Registration Certificate from the Bekasi Regency One-Stop Integrated Service Office.
The Company is committed to securing and managing the aforementioned permits to facilitate the
execution of new business activities.
In accordance with POJK 17/2020, the Company has appointed KJPP MWH as an Independent
Appraisal registered with the OJK to provide an evaluation regarding the feasability of the proposed
Addition of Business Activities.
As of the date of this Information Disclosure, the Company has not received any objections from
specific parties concerning the addition of business activities.
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BRIEF INFORMATION OF THE COMPANY
1. Brief History
PT Mandom Indonesia Tbk, hereinafter referred to as the Company, was founded in accordance
with Law No. 1 Year 1967 regarding Foreign Investment, initially as PT Tancho Indonesia Co. Ltd.
This establishment was formalized through Deed of Establishment No. 14, executed on November
5, 1969, before Abdul Latief, S.H., a Notary in Jakarta. The Deed of Establishment received
approval from the Minister of Justice of the Republic of Indonesia via Decree No. J.A.5/150/18
dated November 28, 1970, and was published in the State Gazette of the Republic of Indonesia
No. 24 on March 23, 1971, Supplement No. 141.
In 1990, PT Tancho Indonesia Co. Ltd. officially changed its name to PT Tancho Indonesia, as
documented in Notarial Deed No. 53, dated March 6, 1990, executed before Lukman Kirana, S.H.,
Notary in Jakarta. This change received approval from the Ministry of Law and Human Rights of
the Republic of Indonesia through Decree No. C2-2132.HT.01.04.TH.90, dated April 11, 1990.
On August 28, 1993, the Company received an effective statement from the Chairman of the
Capital Market Supervisory Agency, pursuant to Letter No. S-1340/PM/1993, regarding the initial
public offering. The Company issued 4,400,000 (four million four hundred thousand) shares with
a nominal value of IDR 1,000 (one thousand Rupiah) each to the public.
In 1997, PT Tancho Indonesia changed its name to PT Tancho Indonesia Tbk in accordance with
Notarial Deed No. 25 dated May 14, 1997, executed before Amrul Partomuan Pohan, S.H., LL.M.,
Notary in Jakarta, and subsequently approved by the Ministry of Law and Human Rights of the
Republic of Indonesia as established by Decree No. C2-6205.HT.01.04.TH.97 dated 4 July 1997.
In 2001, PT Tancho Indonesia Tbk changed its name to PT Mandom Indonesia Tbk in accordance
with Notarial Deed No. 6, dated November 2, 2000, executed before Amrul Partomuan Pohan,
S.H., LL.M., Notary in Jakarta, and subsequently approved by the Ministry of Law and Human
Rights of the Republic of Indonesia through Decree No. C-24619.HT.01.04.TH.2000, dated
November 27, 2000.
On June 18, 2021, the Company, through the Extraordinary General Meeting of Shareholders,
acquired 208,238,267 (two hundred eight million two hundred thirty-eight thousand two
hundred sixty-seven) shares of ACG International Sdn. Bhd. and 909,216 (nine hundred nine
thousand two hundred sixteen) shares of Alliance Cosmetics Pte. Ltd under PT Alliance Cosmetics.
Subsequently, on the same day, following the conclusion of the GMS, the Company executed a
Binding Rights Agreement on Shares as outlined in Notarial Deed No. 71 dated June 18, 2021,
concerning the Binding Agreement on the Transfer of Rights on Shares of PT Alliance Cosmetics
between ACG International Sdn. Bhd. and Alliance Cosmetics Pte. Ltd as the sellers, and the
Company as the buyer, executed by Elizabeth Karina Leonita, S.H., M.Kn., Notary in Jakarta, with
an acquisition price of Rp7,679,895,576 (seven billion six hundred seventy-nine million eight
hundred ninety-five thousand five hundred seventy-six Rupiah).
On June 30, 2022, the Company augmented its shareholding in PT Alliance Cosmetics through the
signing of a purchase agreement for the acquisition of 16,500,000 (sixteen million five hundred
thousand) shares, representing 7.312% (seven point three one two percent) ownership, held by
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ACG International Sdn. Bhd., at an agreed selling price of Rp501,699,989 (five hundred one million
six hundred ninety-nine thousand nine hundred eighty-nine Rupiah).
At the GMS held on May 10, 2023, the Shareholders granted their approval on the stock split,
reducing the nominal value of shares from Rp500 (five hundred Rupiah) per share to Rp250 (two
hundred and fifty Rupiah) per share, effective June 6, 2023, in accordance with the IDX approval.
This modification was formalized before Notary Ambiati, S.H., under Notarial Deed No. 39 dated
May 10, 2023, and has received approval from the Ministry of Law and Human Rights of the
Republic of Indonesia, as per Decree No. AHU-0027738.AH.01.02. YEAR 2023. According to the
IDX Letter No. S-02346/BEI.PP3/03-2023 dated March 15, 2023, the IDX has approved the
adjustment of the nominal share value of the Company; consequently, the shares of the Company
listed on the IDX, effective June 6, 2023, are now valued at Rp250 (two hundred and fifty Rupiah)
per share.
The Articles of Association of the Company have been periodically amended, with the most recent
amendment detailed in the Deed of Statement of GMS Resolutions No. 117, dated May 27, 2025,
executed before Ambiati, S.H., Notary in Bekasi City. This amendment has been notified to the
Ministry of Law and Human Rights of the Republic of Indonesia, as evidenced by the Letter of
Receipt of Notification of Amendments to the Articles of Association No. AHU-AH.01.03-0157633,
dated June 13, 2025. Furthermore, it has been registered in the Company Register at the Ministry
of Law and Human Rights under No. AHU-0129835.AH.01.11.Tahun 2025, also dated June 13,
2025.
2. Business Activities
Pursuant to Article 3 of the existing Articles of Association of the Company, the purpose and
objective of the Company is to operate within the Manufacturing Industry, specifically the
chemicals and chemical products sector, the rubber industry, the rubber and plastic products, as
well as Wholesale Trade, excluding Automobiles and Motorcycles. To fulfill these purposes and
objectives, the Company may undertake the following business activities:
ENGAGING IN BUSINESS ACTIVITIES WITHIN THE CHEMICALS AND CHEMICAL PRODUCTS
INDUSTRY
Cosmetics industry the industry of producing cosmetics for humans including facial 20232
for humans, makeup, fragrances or perfumes, hair care items (such as
including oral care shampoos and products for curling or straightening hair and
products others), nail care products or manicure and pedicure supplies,
skin care products (such as sunburn prevention creams or lotions
and products designed to enhance skin appearance after sun
exposure), body hygiene items (including cosmetic soaps, bath
soaps, antiseptic soaps, external intimate hygiene products,
deodorants, bath salts, and others), and shaving products.
Additionally, decorative cosmetics comprise facial makeup, eye
makeup, fragrances or perfumes, nail cosmetics, and hair
cosmetics, including hair dye. This category also encompasses
toothpaste and products aimed at maintaining oral hygiene,
including cosmetic teeth whitening solutions
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Soap and household soap manufacturing industry (excluding soap categorized under 20231
cleaning products group 20232) in various forms, including solid, powder, cream, or
industry liquid; the detergent manufacturing industry and other
household cleaning products, such as organic floor cleaners;
paper, cotton wadding, felt, and similar materials coated with
soap or detergent, such as wet wipes; raw glycerol; surface
cleaners, including both solid and liquid washing powders and
detergents, dishwashing agents and fabric softeners; cleaning
and polishing products, such as air fresheners and deodorants,
artificial and processed waxes, polishes and creams for leather
goods, wood, glass, and metal polishes, as well as pastes and
scouring powders, including paper, wadding, and other materials
coated with paste and scouring powder
ENGAGING IN BUSINESS ACTIVITIES WITHIN THE RUBBER INDUSTRY, RUBBER AND PLASTIC PRODUCTS
Plastic packaging business of producing plastic packaging, including plastic 22220
industry bags, pouches, sacks, cosmetic containers, film packaging,
pharmaceutical packaging, food packaging, and various
other plastic products (such as containers, bottles, boxes,
shelves, and others)
ENGAGING IN BUSINESS ACTIVITIES WITHIN THE COSMETICS WHOLESALE TRADE
Wholesale trade of wholesale cosmetics business for human, including 46443
cosmetics for perfume, soap, powder, and other products
humans
The aforementioned business activities constitute the primary operations of the Company.
The Company intends to add a core business activity, specifically KBLI 68126: Rental of
Warehouses and Self-Storage Facilities. In alignment with the definition outlined in the Regulation
of the Central Bureau of Statistics Number 7 Year 2025 regarding the Indonesian Standard
Classification of Business Fields, KBLI 68126 pertains to the rental of warehouses and self-storage
facilities utilized for the storage of goods, which includes offering locker rentals equipped with
security features.
In light of the addition of business activities, the Company intends to amend its aims and
objectives in the Articles of Association to align with the 2025 KBLI, subject to approval at the
Extraordinary GMS, with the following agenda:
Approval of the Company's proposal to expand its business activities as outlined in POJK No.
17/POJK.04/2020, which includes a discussion of the feasibility study pertaining to the Addition
of Business Activities and amendments to Article 3 of the Company's Articles of Association
concerning the expansion of business activities, all in alignment with the 2025 Indonesian
Standard Industrial Classification.
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3. Capital Structure and Shareholding Composition
Capital Structure and Shareholding Composition of the Company as of December 31, 2025
Note Number of Shares Nominal Value Percentage
Authorized Capital 1,608,533,336 402,133,334,000
Mandom Corporation 262,317,382 65,579,345,500 65.23%
PT Asia Jaya Paramita 45,716,520 11,429,130,000 11.37%
Lie Harjono 506,008 126,502,000 0.13%
Hirokazu Kagami 40,000 10,000,000 0.01%
Naoya Koizumi 25,776 6,444,000 0.01%
Masyarakat Warkat 22,018,428 5,504,607,000 5.48%
Masyarakat Non Warkat 71,509,220 17,887,305,000 17.78%
Subscribed and Paid Up Capital 402,133,334 100,533,333,500 100.00%
Unissued Shares 1,206,400,002 301,600,000,500
In relation to the information concerning the Controller of the Company, whether directly or
indirectly, reaching the individual owners and/or Major Shareholders, following the acquisition of
Mandom Corporation by Kalon Holdings Co., Ltd., and as referenced in the Basic Transaction
Agreement between the Nishimura Family Shareholders and Kalon Holdings Co., Ltd., as well as
the Shareholders Agreement between the Nishimura Family Shareholders and Lumina
International Holdings Limited, both Lumina International Holdings Limited and the Nishimura
Family Shareholders are recognized as joint controllers of Kalon Holdings Co., Ltd. Consequently,
they are considered to act collectively as indirect controllers of Mandom Corporation.
CVC Capital Partners plc, through Lumina International Holdings Limited, does not possess any
individual beneficiaries or controlling shareholders. As a joint controller of Mandom Corporation,
Motonobu Nishimura serves as a beneficiary of Mandom Corporation. Consequently, in his
capacity as a representative of Mandom Corporation, the controlling shareholder of the
Company, Motonobu Nishimura also functions as a beneficiary of the Company.
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Shareholding Structure of the Company
4. The Management and Supervisory of the Company
The composition of the Board of Directors and Board of Commissioners of the Company as of
December 31, 2025, is derived from Notarial Deed No. 117 dated May 27, 2025, executed before
Ambiati, S.H., Notary in Bekasi City. This has been duly notified to the Ministry of Law and Human
Rights of the Republic of Indonesia, as evidenced by the Letter of Receipt of Notification of
Amendments to the Articles of Association No. AHU-AH.01.09-0297484 dated June 13, 2025, and
has been registered in the Company Register at the Ministry of Law and Human Rights under No.
AHU-0129835.AH.01.11.Tahun 2025 dated June 13, 2025.
Board of Commissioners
Position Name
President Commissioner Shinichiro Koshiba
Commissioner Masanori Sawada
Commissioner Lie Harjono
Independent Commissioner Heri Martono
Independent Commissioner Bowo Priyatno
Independent Commissioner Tiurma Rondang Sari
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Board of Directors
Position Name
President Director/CEO Koichi Watanabe
Direktor/SEO Teiji Izawa
Direktor/SEO Toru Onishi
Direktor Sanyata Adi Saputra
Deputy Director/SEO Budi Sudarta
Deputy Director/SEO Hirokazu Kagami
Deputy Director/SEO Hideki Nakamura
5. Financial Highlights
The following is a summary of the financial performance of the Company for the year ended
December 31, 2025, presented in Rupiah in the table below, based on the consolidated financial
statements of the Company. The annual consolidated financial statements of the Company for
the year ended December 31, 2025, have been audited by the Public Accounting Firm Liana
Ramon Xenia & Rekan (a member of Deloitte Touche Tohmatsu), which issued an opinion that
the attached consolidated financial statements fairly present, in all material respects, the
consolidated financial position of the Group as of December 31, 2025, along with its consolidated
financial performance and consolidated cash flows for the year then ended, in accordance with
Indonesian Financial Accounting Standards, signed by Erny Sandjaja, CPA.
Sta tements of C omprehensive Income (Loss)
(expressed in thousand of Rupiah) 2025 2024
Net Sales 2.146.553 1.859.368
Gross Proft (Loss) 551.806 241.799
Operating Income (Loss) (8.922) (198.395)
Net Income (Loss) for the Year 15.299 (124.747)
Comprehensive Income (Loss) for the Year 6.152 (64.053)
Sta tements of Fina nci al Posi ti on
(expressed in thousand of Rupiah) 2025 2024
Current Assets 1.620.976 1.594.069
Non-Current Assets 699.813 743.820
Total Assets 2.320.790 2.337.889
Current Liabilities 305.279 358.755
Non-Current Liabilities 225.425 195.200
Total Liabilities 530.704 553.955
Equity 1.790.086 1.783.934
Total Liabilities and Equity 2.320.790 2.337.889
Sta tements of C a sh Fl ow 2025 2024
Capital Expenditure 62.959 82.879
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EXPLANATION, CONSIDERATIONS, AND RATIONALES FOR ADDITIONAL
BUSINESS ACTIVITIES
The Addition of Business Activities is undertaken as a strategy for business diversification on the area
available at the Logistics Center of the Company, situated in the Factory 2 area. This location is
currently utilized as a Plastic Packaging Factory and Logistic Center for internal operations. The
expansion of business activities enables the Company to establish new revenue-generating lines.
Furthermore, this initiative enhances asset optimization and operational efficiency by leveraging
available area and maximizing the use of existing expertise and infrastructure to support the new
business endeavors.
The process of incorporating business activities commences with adherence to the stipulations of
POJK 17/2020, which encompasses approval from the GMS. As a foreign-owned enterprise (PMA),
the Company must meet the licensing requirements for warehouse rental business activities in
accordance with Government Regulation Number 28 Year 2025 regarding Risk-Based Business
Licensing. The licensing will be processed subsequent to the Company securing GMS approval. The
required permits include the following:
1. PMA investment licensing through the submission of a NIB, categorized under KBLI 68126 for
Warehouse Rental and Self-Storage Facilities.
2. Environmental management permit/approval, specifically, the Company must prepare
environmental management and implementation reporting documents in the form of SPPL, UKL,
and UPL.
3. Permits pertaining to operational support encompass the technical submission of the Warehouse
Registration Certificate from the One-Stop Integrated Service Office of Bekasi Regency.
The Company is committed to securing and managing the aforementioned permits to facilitate the
execution of new business activities.
SUMMARY OF THE FEASIBILITY STUDY ON THE PROPOSED ADDITION OF
BUSINESS ACTIVITIES
A. IDENTITY OF THE APPRAISAL
KJPP Munir, Wisnu, Heru & Rekan serves as an appraisal consultant (“the Appraisal”), operating
under the Public Appraisal Services Office Business License issued by the Minister of Finance of
the Republic of Indonesia No. 2.15.0129, in accordance with KMK 479/KM.1/2015 dated June
3, 2015. The firm holds NPWP No. 72.848.905.5-011.000 and is located in South Jakarta, at Lina
Building, 3rd Floor, R.307, Jl. HR. Rasuna Said Kav B.7 Kuningan. The contact number is 021-
5204352, and the fax number is 021-5204353. In this context, the firm is represented by:
Name : Hasan Munir H, MBA., MAPPI (Cert)
Appraisal License : PB-1.008.00062
STTD OJK : STTD.PPB-03/PJ-1/PM.2/2023
Qualifications : Property and Business
Position : Managing Partner
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Address : Gedung Lina, Lt 3 R 307
Jl. HR. Rasuna Said Kav B-7, Kuningan
Jakarta Selatan 12920
Email : kantor_mwh@kjppmwh.com, Kjpp_mwh@yahoo.com
B. SUMMARY OF THE FEASIBILITY STUDY
1. Purpose and Objective
To provide a Fairness Opinion on proposals for addition of business activities in alignment
with KBLI 68126 concerning warehouse rental and self-storage facilities.
2. Assumptions and Limiting Conditions
- The feasibility study report for addition of business activities presents a non-disclaimer
opinion.
- The Appraisal has evaluated the documents utilized in the feasibility study process for
addition of business activities.
- In conducting this feasibility study, the Appraisal depends on the thoroughness of the
information supplied by the Company and/or data acquired from publicly accessible
sources and other credible information.
- The Appraisal employs financial projections that have been modified to ensure the
reasonableness of the financial forecasts provided by the Company in relation to its
capacity to realize them (fiduciary duty).
- The Company asserts that all material information regarding the assignment of the
feasibility study for addition of business activities has been thoroughly disclosed to the
Appraisal and there has been no omission of significant facts.
- The feasibility study report is accessible to the public, provided it does not contain
confidential information that may impact the Company's operations.
- This feasibility study report aims to serve the interests of the capital market and adhere
to the OJK regulations, without any other intended purposes.
- This feasibility study report has been prepared in alignment with prevailing market and
economic conditions, general business and financial circumstances, and applicable
government regulations effective as of the date this assessment is issued.
- The Appraisal also assume that from the issuance date of this feasibility study report until
the date of the corporate action plan, there have been no alterations to the assumptions,
conditions, and events that have transpired, aside from those communicated to the
Appraisal prior to the report's date, which significantly affect the preparation of this
feasibility study. The Appraisal bear no responsibility for reaffirming, completing, or
updating opinion in light of changes in assumptions, conditions, and events that have
occurred or been communicated after the report's date.
- The preparation of this feasibility study is predicated on the assumption that the
assignment has been conducted in accordance with POJK 17/2020, POJK 35/2020, the
Circular Letter on Guidelines for the Assessment and Presentation of Business Assessment
Reports in the Capital Market, and the Indonesian Valuation Standards (SPI) Edition VII of
2018. Consequently, it is not intended to be applied, analyzed, or interpreted in
accordance with the laws and regulations of other countries.
- The findings of this feasibility study report are significantly affected by the availability and
accuracy of the data and supporting information provided by the Company.
- This feasibility study report should be considered in its entirety; utilizing segments of the
analysis and information without regard to the comprehensive context may result in
erroneous interpretations and conclusions concerning the processes underlying this
study.
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- The Appraisal bears no responsibility to third parties, aside from the Company, provided
that there is no deviation from applicable regulations and laws.
3. Opinion on the Feasibility of the Addition of Business Activities
Based on the analysis, the Company's strategy to add its business activities or extend KBLI
68126 related to warehouse rentals and self-storage facilities is deemed feasible. This
conclusion is supported by:
- Based on the analysis results from the market perspective concerning the proposal for
addition of business activities or incorporate KBLI 68126 for warehouse rental and self-
storage facilities indicate that it is indeed marketable.
- Based on the analysis results from the technical perspective concerning the proposal for
addition of business activities or incorporate KBLI 68126 related to warehouse rental and
self-storage facilities indicate that it is feasible.
- Based on the analysis results concerning the business pattern related to the proposed
addition of business activities or the incorporation of KBLI 68126 pertaining to warehouse
rental and self-storage facilities, it can be concluded that the initiative is feasible.
- Based on the analysis of the management model concerning the proposal for addition of
business activities by incorporating KBLI 68126, which pertains to warehouse rental and
self-storage facilities, indicates that this initiative is feasible.
- Based on the findings of the financial analysis, the feasibility indicators pertaining to the
expansion of business activities or the incorporation of KBLI 68126 regarding warehouse
rentals and self-storage facilities are deemed feasible. This conclusion is supported by the
project's IRR exceeding the assumed discount rate, the project's NPV being greater than
zero, the project's B/C Ratio surpassing one, and a payback period of merely 2.58 years.
4. Sensitivity Analysis
Indikator Kelayakan Usaha Nilai
Diskon Rate 8,60%
IRR 80,70%
NPV 232.169.828
B/C Ratio 2,64
Payback Period (tahun) 2,61
This analysis seeks to identify the most sensitive variables affecting the project's feasibility.
These variables include 2 (two) key factors: tariffs and investment costs.
The analysis results indicate that the most sensitive variable is the tariff. A percentage
change in the tariff, equivalent to that of the investment cost variable, will lead to a more
significant decline in the IRR and NPV.
Uraian Kenaikan IRR NPV
(Penurunan) (%) (Rp)
Normal 80,70% 232.169.828
Tarif -5,0% 48,95% 118.793.631
-7,5% 31,60% 62.105.531
-10,0% 10,92% 5.417.430
Investasi + 5% 74,12% 218.804.093
+ 7,5% 71,07% 212.121.225
+ 10% 68,14% 205.438.357
The findings of the sensitivity analysis regarding the reduction in rental rates indicate a high
level of sensitivity; specifically, a 10% decrease renders the projection unfeasible, while a 10%
increase in investment maintains the project's feasibility.
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AVAILABILITY OF EXPERTS REGARDING THE PROPOSED ADDITION OF
BUSINESS ACTIVITIES
In relation to the planned addition of business activities, the Company possesses the requisite
expertise to support the operational facets of the proposed initiatives. The Company currently
operates a Logistics Center facility tailored to its needs, where daily operations are managed by a
team of employees from the Logistics Center Division. The Company is dedicated to ensuring that the
workforce requirements associated with the introduction of new business activities do not
compromise the performance of its existing core operations. The new business initiatives will be
overseen by a Senior Executive Officer, with support from Executive Officers in alignment with the
current organizational structure. In executing their responsibilities, they will be aided by lower-tier
personnel, including managers, assistant managers, chiefs/leaders, and staff members.
THE IMPACT OF ADDITIONAL BUSINESS ACTIVITIES ON THE FINANCIAL
PERFORMANCE OF THE COMPANY
The Addition of Business Activities can generate revenue for the Company by leveraging the space
within the Logistic Center designated for commercial warehouse rental. The introduction and
execution of these new business activities are anticipated to positively impact financial performance
of the Company, particularly through contributions to operating income. The Company does not
necessitate substantial investments, as the new business activities will utilize the existing space in
Factory 2. Funds allocated for the establishment of supporting infrastructure, such as air
conditioning, will be sourced from internal cash reserves of the Company. There are no significant
alterations in the assets and liabilities of the Company before and after the introduction of these
business activities.
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Projection of Financial Position of the Company without the Addition of Business Activities
(in accordance with the 2026–2030 business plan)
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Projection of Financial Position of the Company with the Addition of Business Activities
(in accordance with the 2026–2030 business plan)
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Financial Ratios of the Company without the Addition of Business Activities
(in accordance with the 2026–2030 business plan)
Rasio Keuangan 2026 2027 2028 2029 2030
Aset Lancar/Liabilitas Jangka Pendek
666,9% 638,3% 673,6% 743,3% 798,6%
Current Assets/Current Liabilities
Jumlah Liabilitas/Jumlah Aset
20,5% 21,0% 20,4% 19,2% 18,3%
Total Liabilities/Total Assets
Jumlah Liabilitas/Jumlah Ekuitas
25,8% 26,6% 25,7% 23,8% 22,4%
Total Liabilities/Total Equity
Liabilitas Jangka Pendek/Jumlah Aset
10,6% 11,2% 10,8% 9,8% 9,3%
Current Liabilities/Total Assets
Jumlah Ekuitas/Jumlah Aset
79,5% 79,0% 79,6% 80,8% 81,7%
Total Equity/Total Assets
Laba Bersih/Penjualan Bersih
2,8% 2,4% 3,8% 4,7% 5,7%
Net Income/Net Sales
Laba Bersih/Jumlah Aset
2,8% 2,6% 4,2% 5,5% 6,7%
Net Income/Total Assets
Laba Bersih/Jumlah Ekuitas
3,5% 3,3% 5,3% 6,8% 8,3%
Net Income/Total Equity
Financial Ratios of the Company with the Addition of Business Activities
(in accordance with the 2026–2030 business plan)
Rasio Keuangan 2026 2027 2028 2029 2030
Aset Lancar/Liabilitas Jangka Pendek
666,8% 638,3% 673,6% 743,4% 798,6%
Current Assets/Current Liabilities
Jumlah Liabilitas/Jumlah Aset
20,5% 21,0% 20,4% 19,2% 18,3%
Total Liabilities/Total Assets
Jumlah Liabilitas/Jumlah Ekuitas
25,8% 26,6% 25,7% 23,8% 22,4%
Total Liabilities/Total Equity
Liabilitas Jangka Pendek/Jumlah Aset
10,6% 11,2% 10,8% 9,8% 9,3%
Current Liabilities/Total Assets
Jumlah Ekuitas/Jumlah Aset
79,5% 79,0% 79,6% 80,8% 81,7%
Total Equity/Total Assets
Laba Bersih/Penjualan Bersih
2,8% 2,4% 3,8% 4,7% 5,7%
Net Income/Net Sales
Laba Bersih/Jumlah Aset
2,8% 2,6% 4,2% 5,5% 6,7%
Net Income/Total Assets
Laba Bersih/Jumlah Ekuitas
3,5% 3,3% 5,3% 6,8% 8,3%
Net Income/Total Equity
ADDITIONAL MATERIAL CONCERNS PERTAINING TO BUSINESS OPERATIONS
There are no additional material issues pertaining to the plan to incorporate business activities.
15
Page 17
INFORMATION RELATED TO THE ANNUAL GMS
To comply with the stipulations outlined in POJK 17/2020 concerning the addition of business
activities, the Company plans to seek approval from Shareholders during the Extraordinary GMS
scheduled for Tuesday, May 19, 2026. The Company will present its request for approval at the
Extraordinary GMS, adhering to the regulations established in POJK 17/2020, POJK 15/2020, POJK
14/2025, and the Articles of Association of the Company. In relation to the proposed expansion of
business activities, the Company also aims to obtain Shareholder approval at the Extraordinary GMS
for amendments to Article 3 of the Articles of Association of the Company, which pertains to the
objectives and business activities. The agenda for the Extraordinary GMS is as follows:
Approval of the Company's proposal to expand its business activities as outlined in POJK No.
17/POJK.04/2020, which includes a discussion of the feasibility study pertaining to the expansion of
business activities and amendments to Article 3 of the Company's Articles of Association to reflect
these additions, ensuring alignment with the 2025 Indonesian Standard Industrial Classification.
Important dates pertaining to the convening of the Extraordinary GMS of the Company are as follows:
Activities Date
Notification of the Annual GMS Agenda April 2, 2026
Announcement of the Annual GMS April 10, 2026
Annual GMS Recording Date April 24, 2026
Invitation of the Annual GMS April 27, 2026
Annual GMS May 19, 2026
Announcement of the Minutes Summary of the Annual GMS May 20, 2026
In this regard, the following stipulations outline the quorum requirements for attendance and
decision-making at the Extraordinary GMS:
a. A GMS may be convened if shareholders representing a minimum of 2/3 of the total shares with
valid voting rights are in attendance.
b. The resolution of the GMS mentioned in letter (a) is valid if it receives approval from more than
2/3 of all shares with voting rights present at the GMS;
c. If the quorum rights mentioned in letter (a) are not met, a second GMS may be convened,
provided that this second GMS is deemed valid and authorized to make decisions if attended by
shareholders representing at least 3/5 of the total number of shares with valid voting rights,
unless the Articles of Association of the Company stipulate a larger quorum.
d. The resolution of the second GMS is valid if it receives approval from more than half of all shares
with voting rights present at the GMS; and
e. Should the attendance quorum at the second GMS, as referenced in letter (c), not be achieved, a
third GMS may be convened, provided that this third GMS is deemed valid and possesses the
authority to make decisions if attended by shareholders holding shares with valid voting rights, in
accordance with the attendance quorum and decision quorum established by the OJK at the
request of the Company.
16
Page 18
ADDITIONAL INFORMATION
Shareholders of the Company who require more detailed information regarding this Information
Disclosure are advised to contact the Company at the following details:
PT MANDOM INDONESIA Tbk
Up: Corporate Secretary
Wisma 46 Kota BNI, Suite 7.01, 7th Floor
Jl. Jend. Sudirman Kav. 1, Jakarta 10220
Telp: (021) 29809500, Fax: (021) 29809501
E-mail: corporatesecretary@mandom.co.id
Website: www.mandom.co.id
Jakarta, May 12, 2026
The Board of Directors
17
Page 19
AA PT mandom indonesia Tbk
STATEMENT OF THE BOARD OF DIRECTORS
The undersigned:
Name : Hideki Nakamura
Position : Deputy Director/SEC
In this instance, acting on behalf of the Company in the aforementioned capacity.
The Company's Board of Directors is accountable for the accuracy of all information presented in this
Information Disclosure and hereby confirms that, to the best knowledge and belief of the Board of
Directors, there are no material information that has been undisclosed or omitted which could render
this Information Disclosure inaccurate and/or misleading.
Hideki Nakamura
Deputy Director/SEC
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