Dear Our Most Values Shareholders and Stakeholders,
Allow us to express our praise and gratitude to the presence of Almighty God for His abundance of grace in helping PT Humpuss Intermoda Transportasi Tbk. sailing through 2023 to perform well. The Company continues to develop and improve its ability to face all challenges and seize new opportunities. The Board of Commissioners would like to take this opportunity to congratulate the Board of Directors for navigating the company to a strong position, in achieving the Company’s plans and strategies.
HITS’s financial records recorded revenue of US$112.47 million with consolidated profit for the year recorded at US$9.24 million which also experienced a contraction of 18.09% compared to the previous year of US$11.28 million. Overall, total assets increased 18.22% to US$271.82 million compared to the previous year of US$229.92 million. The Board of Commissioners appreciates the Board of Directors and their subsidiaries for their hard work in achieving financial performance in 2023.
The Board of Directors has responded very well to challenges, especially in monitoring developments in the maritime industry to obtain opportunities for the Company’s sustainable growth. This can be seen from the addition and renewal of the fleet of vessels in subsidiaries, strengthening the strategic market mix from government and state-owned customers to private customers, and establishing strategic alliances with other business actors in similar industries.
Assessing the performance of the Board of Directors in strengthening the company internally, the Board of Commissioners gives special applause for the efforts of the Board of Directors to continue developing management information systems and technology, developing Human Resources (HR), mixing sources of investment financing or Capital Expenditure (Capex) from banking, non-financial institutions bank, bareboat charter contract with purchase option, and the success of PT Humpuss Maritim Internasional Tbk as a subsidiary in carrying out fund raising through the capital market by conducting an Initial Public Offering (IPO).
The Company together with its subsidiaries increases productivity and expands its business through developing Human Resources (HR), developing management information systems and technology, strengthening the Company’s financial condition, mixing sources of investment financing or Capital Expenditure (Capex) from banks, institutions non-bank finance, bareboat charter contracts with purchase options and fund raising through the capital market by conducting an Initial Public Offering (IPO) in one of the subsidiaries, PT Humpuss Maritim Internasional Tbk.
In the future, the Board of Commissioners will continue its supervision of the policies and strategies implemented by the Board of Directors, to ensure that management consistently implements planned business strategies in its efforts to achieve sustainable growth.
The Board of Commissioners sees that in general the business prospects presented by the Board of Directors in the initial work plan for 2024 are relevant. The 2024 Company Work Plan and Budget (RKAP) as well as the Company’s Long-term Plan (RJPP) which have been prepared by the Board of Directors have taken into account various global and domestic economic conditions, accompanied by macroeconomic assumptions.
In order to strengthen the holding group’s capabilities, the business prospects are also quite promising, appropriate, and in line with the Company’s business field. Through subsidiary entities, HITS aims to achieve the growth potential of petrochemical transportation and port infrastructure.
The Board of Commissioners believes a wide business potential for the Company and its Subsidiaries to continue to strengthen growth and increase business synergies, while still taking considering potential risks and prioritizing good corporate governance (GCG) in each operational phase.
Views on Corporate Governance
The Board of Commissioners assesses that the implementation of GCG in the Company has been upheld and carried out well in the Company’s operations at all organizational levels, referring to various relevant regulations and best practices for implementing corporate governance, in order to support the achievement of sustainable performance. In carrying out its supervisory function, the Board of Commissioners strives to ensure the management carried out by the Board of Directors is in accordance with applicable laws and regulations and provides the necessary advice on every strategic action in order to achieve the Company’s objectives.
The Board of Commissioners believes that GCG principles continue to be implemented well in the Company, in line with the Company’s commitment to building a stronger business as an effort to maintain sustainable growth.
The Board of Commissioners did not only supervise the management of the Company carried out by the Board of Directors, but also carried out regular monitoring duties and provided advice to the Board of Directors. The supervision and advice provided by the Board of Commissioners includes work plans, Company development, and implementation of the Company’s strategic policies by taking into account the provisions of the articles of association and applicable laws and regulations. The Board of Commissioners also provides support, suggestions, and advice in order to achieve the targets contained in the 5-year RKAP and RJPP as well as being directly involved in monitoring the implementation of RKAP and RJPP targets, starting from the initial formulation to the implementation of HITS strategies and policies.
Closing Statement
Lastly, on behalf of the Board of Commissioners, allow me to express my deepest gratitude for the support of the entire Board of Directors and employees of the Company who have been dedicated and working hard for the Company in 2023. We also express our appreciation and gratitude to shareholders and all stakeholders for their trust, loyalty, and endless support. We hope the Company can be more optimistic in achieving better growth in the future and have a positive impact on all stakeholders.