Dear Shareholders,
I am pleased to present to you the Annual Report of PT Wilton Makmur Indonesia Tbk (“Wilton” or the “Company”, and together with its subsidiaries, the “Group”) for the financial year ended 31 December 2024 (“FY2024”), which outlines the key developments and challenges faced by the Group.
In the first quarter of 2024, the Group’s main operating unit in Indonesia had to scale down mining and production activities until the third quarter of 2024, due to constraints in the pricing and availability of cyanide.
In the fourth quarter of 2024, the Sukabumi Regency was impacted by heavy rainfall brought about by La Nina, a hydrometeorological disaster, which in turn disrupted electricity supply and led to temporary suspension of
operation at the Group’s Processing Facility.
These unforeseen circumstances affected the Group’s operational activities and financial performance for FY2024. In response, the Group is actively evaluating strategic options and has appointed professional firms to assist in charting the way forward.
Good Corporate Governance
The Group strives to prioritize the implementation of good corporate governance so as to increase the confidence of our stakeholders. In 2024, the Annual General Meeting decisively approved the reappointment of members to the Company’s Board of Directors and Board of Commissioners. There are no changes to the composition of the Board of Commissioners (“BOC”) in 2024.
The BOC strives to maintain effective communication with the management team and the Company’s directors. Amongst them are through regular meetings between the Board of Commissioners and the Board of Directors (“BOD”). BOC is satisfied with the performance of the BOD in 2024.
Appreciation
On behalf of the Board of Commissioners (“BOC”), I would like to extend appreciation to our shareholders and stakeholders for their continued patience and support during this challenging period.
Finally, I would also like to thank my fellow directors, our management team, employees, professional advisers, and business partners for their unwavering dedication and contribution to the Group.
On behalf of the Board of Commissioners
PT. Wilton Makmur Indonesia Tbk
Wijaya Lawrence
President Commissioner
