State-owned cement producer PT Semen Baturaja (SMBR), a subsidiary of PT Semen Indonesia (SIG), reshuffled the board of directors and board of commissioners at the Annual General Meeting of Shareholders (AGMS) for the 2024 Fiscal Year held in Jakarta on Tuesday, May 27, 2025. 

Taufik Ibrahim was appointed as Director of Operations replacing Muhammad Syafitri, who is reported to be taking the position of President Director at PT Semen Padang, following the appointment of Indrieffouny Indra as President Director of SIG.

In addition to changes to the board of directors, the GMS also agreed to appoint Inosentius Samsul as President Commissioner replacing Alex Iskandar Munaf. Other changes include the appointment of Dzulfikar Ahmad as Commissioner and Feryzal Adam as Independent Commissioner, replacing Hadi Daryanto.

Dividends

The AGMS also approved the distribution of cash dividends of Rp25.85 billion (US$1.62 million) or equivalent to 20 percent of the consolidated net profit for the 2024 fiscal year which reached Rp129.25 billion (US$8.08 million). Thus, shareholders will receive dividends of Rp2.60264 per share.

The remaining 80 percent of net profit or Rp103.4 billion (US$6.46 million) is designated as retained earnings.

SMBR President Director Suherman Yahya said that the distribution of dividends is a form of appreciation to shareholders for their support.

"This reflects the company's fundamentals which continue to strengthen. With the right strategy and stakeholder support, we are confident that SMBR's performance will continue to grow sustainably," said Suherman in his remarks after the event.

SMBR has recorded a positive trend for three consecutive years in distributing dividends, along with a stable increase in net profit. This year, the company managed to record revenue growth of 2.5 percent to Rp2.09 trillion (US$130 million), with cement sales volume increasing 3.43 percent from 2.16 million tons to 2.23 million tons.

Amidst the pressure of the corrected domestic cement market, SMBR managed to maintain positive performance through various initiatives such as operational efficiency through the SMBRGO45 program, product diversification into limestone and white clay, and strengthening the talent management system and corporate governance.

Suherman added that this achievement was the result of SMBR's synergy with the parent company SIG, as well as efforts to develop new sources of income that are responsive to industry dynamics.

In addition to changes in management and dividend determination, shareholders also approved the annual report and consolidated financial statements for the 2024 financial year, including the supervisory report of the board of commissioners and the financial report of the Micro and Small Business Funding Program (PUMK).

The AGMS also provided full release and discharge of responsibility (volledig acquit et de charge) to the directors and board of commissioners for actions during the current year.

The composition of the new SMBR management is as follows:

Board of Commissioners:

• President Commissioner: Inosentius Samsul
• Commissioner: Dzulfikar Ahmad
• Independent Commissioner: Feryzal Adam
• Independent Commissioner: Chowadja Sanova

Board of Directors:

• President Director: Suherman Yahya
• Director of Operations: Taufik Ibrahim
• Director of Finance & HR: Rahmat Hidayat