JAKARTA. Huge net losses recorded by PT Ivomas Salim Pratama Tbk (SIMP) in 2019 caused the company to not distribute any dividends this year.
The decision not to distribute dividends was made in the company's Annual General Meeting of Shareholders (GMS) which took place on Thursday (16/7). In 2019, SIMP recorded a net loss of Rp 546 billion, much higher than its record in 2018 (Rp 77 billion).
Management explained that the surge in net losses was related to huge expenses made by the company. (AM/AR)