Loss, Hotel Mandarin Not Distribute Dividends
JAKARTA, KOMPAS.com – Shareholders of PT Hotel Mandarin Regency Tbk has agreed not to distribute the company plans dividends for the year 2009.
“All of the net income amounted to USD 1.348 billion during the period allocated to retained earnings in the post for working capital needs of the company,” said President Director of Hotel Mandarin Regency (HOME) Heru S Riwanto in Jakarta, Monday (06/21/2010).
“We still have accumulated losses. For the moment we can not distribute dividends. All the profits from the company will be entirely used as additional working capital. It has also been approved in the GMS (general meeting of shareholders) before,” said Riwanto.
Until late 2009, company revenue fell 14.56 percent to Rp 27.15 billion compared to same period the previous year, ie Rp 31.78 billion. Decline in hotel occupancy rates from the year 2008, amounting to 61.02 per cent, to 47.85 percent in 2009 is the main cause tergerusnya company revenue.
However, the company is optimistic that 2010 revenues will increase by 34 percent to Rp 36.38 billion. To achieve this target, the company will open outlets for the activities of hotel marketing promotion.
Then conducted an internal strategy by reviewing all operations and maximize efficiency in all aspects, including cash flow and resources.
In addition, the AGM also approved the appointment of a new president, namely Heru S Riwanto, to replace the position previously occupied by Radius Wibowo
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