JAKARTA – At today’s (26/6) Extraordinary General Meeting of Shareholders (EGMS), shareholders of PT Mutuagung Lestari Tbk (MUTU) agreed upon the company’s plan to add business activities through addition of 10 new Standard Classification of Indonesian Business Fields (lit. Klasifikasi Baku Lapangan Usaha Indonesia/KBLI).

These new KBLI will cover various activities, including the ones in electricity, oil and gas, mining, waste management, nature conservation, as well as management and transportation consultancy.

MUTU is known as a company engaged in the TIC (testing, inspection, and certification) service for numerous industries.

“TIC industry is a hub industry. But, now, many regulations are very sectoral in nature. Let’s say, if we wish to initiate validation and verification of greenhouse gas level for electricity sector, with our currently existing KBLI, we are not allowed to do that,” explained Irham Budiman, Director of MUTU.

According to Budiman, this regulation forces MUTU to list several specific KBLI related to targeted sectors, including electricity and mining. “Almost all sectors apply this regulation, and internationally, too,” he claimed.

In regard to this, Budiman said that these new activities are meant to expand the access and target market of MUTU in offering a more integrated service for various targeted sectors.

“We propose KBLI addition in order to access wider service scope compared to what we currently have,” added Budiman.

Not only that, quoting the information disclosure, MUTU also projects an acceleration of its net profit growth by 4% in 2025, or up to 26% in 2028, with these new additions of KBLI.

Referring to the same document, for this year, MUTU seems quite ambitious by setting the projected net profit of IDR 40.76 billion, soaring over 30% year-on-year (yoy) from IDR 30.96 billion recorded in 2023.

“Truthfully, we are optimistic in being able to score higher than said numbers,” claimed Sumarna, Direktor of MUTU, when met at 2024 Annual Public Expose of MUTU today (26/6). (ZH)