JAKARTA - PT Bentoel Internasional Investama Tbk (RMBA) will engage in management consulting, currently one of the company's supporting businesses, as its primary business. The decision has obtained shareholder approval in the company's Annual General Meeting of Shareholders (AGM) at the Graha CIMB Niaga building, South Jakarta on Thursday (20/6).
"We see that this is the best option to internally simplify [our business], and as such there is no fundamental change [to the company]," said Bentoel Legal & External Affairs Director Mercy Francisca Hutahaean in a public expose held after the company's AGM.
The management consulting business, Ms Hutahaean added, has the potential to be developed further and is expected to improve the integration of Bentoel Group's member companies.
In 2018, Bentoel recorded net sales of Rp 21.9 trillion, up from Rp 20.3 trillion in 2017. However, the company still recorded net loss growth of 26.75% year on year (yoy) to Rp 608.46 billion in the year.
Last year Bentoel also managed to increase the number of its export destination countries to 19 from eight countries in 2016. Thus, the company is confident it can develop its export business and increase overseas sales.
"We are very ambitious to increase our exports from Indonesia, and you’ll see the impressive results that we’ve achieved in the last two or three years," said Bentoel President Director Chris McAllister.
"I think one of the reasons why we’re so successful is because we are investing in a world-class factory in Malang, so of course our cost efficiency is getting better every year, and that’s attracting interest from customers across the world." (MS)