Jakarta – PT Mustika Ratu Tbk (MRAT) held its Annual General Meeting of shareholders (”AGMs”) for fiscal year 2023 & Public Expose for 2024 at Graha Mustika Ratu, Jl. Gatot Subroto Kav.74-75 South Jakarta, Friday (28/06/2024).

MRAT GMS chaired by Ir. Djoko Ramiadji, MSc as President Commissioner and agreed to appoint the Board of Commissioners and Board of Directors with the following composition:
President Commissioner, Ir. Djoko Ramiadji, MSc, Commissioner, Haryo Tedjo Baskoro, MBA, Independent Commissioner, Prof. DR.FG. Winarno, President Director, Ir. Bingar Egidius Situmorang, Director, Jodi Andrea Suryokusumo BCom, MCorpGov, CA (ICAA) and director, Kusuma Ida Anjani, Mbus, MappFin.

President Commissioner, Ir. Djoko Ramiadji, MSc said that PT Mustika Ratu Tbk (MRAT) can maintain its position as a leading herbal and cosmetic company amid the business dynamics faced throughout 2023, the company can capture several opportunities so that it can continue to advance every year.

”In 2023, the company has implemented various strategic initiatives to improve performance, one of which is by focusing on developing product innovation. The Board of Commissioners also assessed that the performance of the Board of Directors has met the SET Results and is in line with the work plan and the implementation of the principles of good corporate governance, ” said Djoko Ramiadji,

PT Mustika Ratu Tbk (MRAT) a leader in the Indonesian beauty, herbal, and health industry, announced the achievement of financial performance and strategic steps for 2024 that can strengthen the company’s position in the domestic and international markets.

In 2023, PT Mustika Ratu Tbk (MRAT) recorded an increase in net sales of 5.41% and an increase in gross profit of 25.86%. The company recorded net sales YTD December 2023 worth Rp300 billion and gross profit of Rp172 billion.

President Director of PT Mustika Ratu Tbk (MRAT) said,” Mustika Ratu innovates in rejuvenating personal care products. This encourages the contribution of sales so that in 2023 this personal care segment also experienced growth of 7.13%. In addition to rejuvenation, Mustika Ratu uses innovative technology, namely encapsulated botanic fusion (e-bion) which is implemented in hair care products,” he said.

To ensure sustainable growth, PT Mustika Ratu Tbk (MRAT) has designed a comprehensive strategy for 2024 known as GPS 2024. This strategy includes product innovation, digital promotion and optimization of e-commerce, distribution expansion, optimization of spa services, as well as Human Resource Development.

PT Mustika Ratu Tbk (MRAT) also continues to be committed to sustainability and social responsibility through various initiatives such as mangrove and tree planting programs, as well as the green movement concept with a focus on the use of recyclable packaging .

Aggressive digital campaigns on various social media platforms and collaboration with Puteri Indonesia 2024 are expected to increase product awareness and sales. Business-to-business cooperation with PT United Dico Citas (UDC) will expand distribution in the medical channel, cooperation with Koperasi Tunas Insan Madani through an extensive network of cooperative members spread throughout Indonesia to work on new sales channels that are direct to end users, while offline promotion through Beauty Class Activities and exhibitions such as Jakarta X Beauty can strengthen brand image.

The increasing network of spa franchises at the national and international level also supports the growth of the global spa industry which continues to increase.

Throughout 2023, PT Mustika Ratu Tbk. (MRAT) also managed to increase market penetration by expanding its export reach to more than 40 countries. Increasing demand from the international market further confirms the global market recognition of the quality of Mustika Ratu products.

Countries in various continents including in Asia, the Middle East, Africa, Europe, and North America, including Japan became the main market with a significant contribution to the growth of the company’s export value.

With the achievements achieved in 2023 and a comprehensive strategy for 2024, PT Mustika Ratu Tbk (MRAT) is optimistic that it will continue to make a positive contribution to shareholders and the wider community. The company is committed to maintaining the quality of products and services, as well as continuing to innovate to meet the needs of a dynamic and growing market.***