BANDUNG - PT Migas Hulu Jabar (Perseroda) or PT MUJ carries out the Annual GMS (AGMS) 2018 Fiscal Year held at Aryaduta Hotel Bandung, Tuesday 7 May 2019. PT MUJ is a Regional Government-Owned Enterprise (BUMD) owned by the Government West Java province.
The West Java Provincial Government as the Shareholder has approved the Annual Report including the Financial Report and the Board of Commissioners Supervisory Task Report for fiscal year 2018. With
the agreement, the AGM provides release or release of responsibility (acquit et decharge) to members of the Board of Directors and the Board of Commissioners for management and supervision actions carried out throughout the 2018 financial year.
The AGMS also approved the bookkeeping of net income for 2018 for the year of US $ 7.85 million (or equivalent to Rp112,332,407,000) and allocated dividends of US $ 2.59 million (equivalent to Rp.35,629,000,000) or 32.11% of the 2018 net income. From the use of the Net Profit, the AGM agreed to be reserved for investment and business development, asset purchases, and Corporate Social Responsibility (CSR).
This revenue growth was triggered by the success of MUJ as Initiator BUMD and the first implementator of 10% Participating Interest in North West Java Offshore Work Area (PI 10% WK ONWJ) with Bekasi, Subang, Kerawang and Indramayu Regency BUMDs and DKI Jakarta Provincial BUMDs through Subsidiaries PT Migas Hulu Jabar ONWJ (MUJ ONWJ) according to Minister of Energy and Mineral Resources Regulation No. 37 of 2016.
The MUJ Begin Troys Director said that 2015 to 2018 had been a challenging year for the MUJ BUMD to complete the 10% WK ONWJ PI transfer process. All along
2018, we continue to focus on trying and advocating for 10% WK ONWJ PI rights, until finally MUJ can book the company's revenue and start giving dividends to the West Java Provincial Government starting in 2018.
"God willing, we are optimistic to give a real contribution to Shareholders in the following years," he said.
According to Begin, all the best efforts have been made by the company. However, the success of the 10% PI ONWJ WK can not be separated from the support and full empowerment of the Governor of West Java along with its ranks, including the BUMD Bureau and Investment Secretariat of West Java Province as the supervisor of MUJ and the West Java Provincial ESDM Office. Jo