Dear Shareholders,
On behalf of the Board of Directors (“BOD”) of PT. Wilton Makmur Indonesia Tbk., I present our Annual Report and Financial Statements which summarizes our efforts that had been carried out by the Company and its subsidiaries during FY2024.
Our Progress
FY2024 was a challenging year for the Company. In December 2024, the Ciemas Gold Project was impacted by heavy rains brought about by La Nina, a hydrometeorological event that triggered flash floods, landslides, power outages, and damage to surrounding infrastructure, including roads and bridges. The
unstable power supply caused operational disruptions at the Ciemas Gold Project’s management facilities. The Group has since been working closely with the State Electricity Company (Perusahaan Listrik Negara) and local authorities to stablise electricity supply and restore logistical routes.
Going Forward
To ensure the continuity of operations and strengthen resilience, the Group intends to allocate sufficient funds for ongoing operations, including exploring strategic options with the assistance of appointed professional firms.
The Group will implement cost management initiatives, including maintaining a lean workforce to minimise operating expenditures, as well as negotiating and securing favorable credit terms with key vendors to manage current liabilities.
The Group will also focus on processing oxide ores in the fourth quarter of 2025, before gradually transitioning to the processing of mixed ores (i.e. oxide ores and sulfide ores).
Corporate Governance
We firmly believe that adhering to the principles of transparency and accountability positions our Company as a trusted and reliable entity in the eyes of our stakeholders.
In 2024, an Annual General Meeting was held, at which the reappointment of members to the Company’s Board of Directors and Board of Commissioners was approved. There was no change in the composition of the Board of Directors in 2024
Appreciation
On behalf of the Board of Directors, I would like to extend my heartfelt gratitude and sincere appreciation to the team and all of our stakeholders for their unwavering support. Your commitment has been instrumental to our success, and we look forward to continuing this journey together
On behalf of the Board of Directors
PT. Wilton Makmur Indonesia Tbk.
OKTAVIA BUDI RAHARJO
President Director
