Lippo Village, Tangerang, 2017-Jun-22 — /EPR Retail News/ — PT Matahari Putra Prima Tbk (MPPA), a multi-format modern retailer in Indonesia, which operates Hypermart, Smartclub, Foodmart, Boston and FMX, today ( June 22, 2017 )announced that its Board of Directors has authorized an additional share purchase option of MatahariMall.com for Rp22,521 per share in all cash transaction valued at Rp121.2 billion. The Company’s total shares have raised to 21,108,836 or equals to 10.5%.
With the additional investment, MPPA hopes to benefit from wider access to e commerce as its development will remain strong this year. The Company views e-commerce in Indonesia is an enormous market and will continue to grow.
The investment and partnership with MatahariMall.com is a new opportunity to foster O2O ecommerce components that encourage the sale contribution in the future. The relationship will improve MPPA’s position as the leading multi-format modern retailer in Indonesia, as well as contribute to a sound financial outlook going forward. MPPA takes advantage to secure a new opportunity to display and market the Company’s exclusive brand throughout Indonesia via ecommerce.
About PT Matahari Putra Prima Tbk (MPPA)
PT Matahari Putra Prima, one of Indonesia’s largest retailers, employs more than 12,000 associates who serve customers in 115 Hypermarkets (Hypermart), 3 Wholesale outlets (SmartClub), 26 Supermarkets (Foodmart Primo/Fresh), 109 Health and Beauty format stores (Boston Health & Beauty), and 46 Minimarket/ Convenience stores (FMX). As of 31 December 2016, MPPA operates 299 stores in 73 cities throughout Indonesia.
MPPA continues to receive both domestic and international acknowledgement with several awards such as:
2016 SWA:100 Indonesia’s Best Wealth Creator, 2016 Brandz™ Top 50 Most Valuable Indonesia Brands by Millward Brown & WPP, 2016 Anugerah Indonesia TBK Company -III- 2016 (APTI-III-2016), 2016 Top 10 Retailers Certificate of Distinction by Retail Asia, 2016 Indonesia GCG Award II – for Retail Category by Economic Review and IPMI (International Business School), 2016 Indonesia’s Most Admired CEO from Warta Ekonomi.
This press release has been prepared by PT Matahari Putra Prima Tbk (MPPA) and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of MPPA. No warranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations included in this release constitute our judgment as of this date and are subject to change without prior notice. MPPA disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and neither MPPA nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise, in this press release and any inaccuracy herein or omission here from which might otherwise arise.
Certain statements in this release are or may be forward-looking statements. These statements typically contain words such as “will”, “expects” and “anticipates” and words of similar import. By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Indonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for our developments and related capital expenditures and investments; the cost of construction; availability of real estate property; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and public policy changes; our ability to be and remain competitive; our financial condition, business strategy as well as the plans and objectives of our management for future operations; generation of future receivables; and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize; actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although we believe that the expectations of our management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
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Source: PT Matahari Putra Prima Tbk (MPPA)