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Report on Information or Material Facts
07 April 2021

The Company through its ownership, both direct and indirectly in amongst the larger consumer companies in Indonesia- including Matahari Department Store (LPPF), PT Matahari Putra Prima Tbk (MPPA), Timezone, and PT Linknet Tbk (LINK)- is one of the largest consumer services companies in Indonesia, serving more than 40 million Indonesians each year.

The Company sees great potential in MPPA as one of the largest grocery retailers in Indonesia with a presence across 73 cities and 31 provinces; and a nationwide logistics and distribution infrastructure. To this end, the company has sold a 11.9% stake in MPPA, and intends to reinvest the proceeds into MPPA to strengthen its balance sheet and provide the necessary capital to propel MPPA to its next stage of growth.