PT Wilton Makmur Indonesia Tbk (SQMI) has drawn market attention in\nearly September 2026 following the company\u2019s announcement regarding the\nresignation of President Director Oktavia Budi Raharjo.<\/p>\n
According to SQMI\u2019s official disclosure, the resignation letter was\nreceived by the company on 31 August 2026. The decision regarding the\nresignation will be discussed during the General Meeting of Shareholders\n(GMS) scheduled for 4 September 2026.<\/p>\n
In its information disclosure, SQMI stated that the resignation will\nnot impact the company\u2019s operational activities, legal aspects,\nfinancial condition, or business continuity. Consequently, the status of\nthe resignation awaits the shareholders\u2019 decision at the GMS.<\/p>\n
The resignation of Oktavia Budi Raharjo represents the latest\ndevelopment in SQMI\u2019s management structure. Until a decision is reached,\ninformation regarding a successor for the President Director position\nremains subject to official company confirmation.<\/p>\n
For investors, changes in top leadership are a critical point of\nobservation, as SQMI is currently in a vital phase of developing its\ngold mining business. On the other hand, the company has officially\nstated that the resignation will not impact operations, financial\ncondition, legal aspects, or business continuity.<\/p>\n
The shareholder structure is also a notable aspect of SQMI. Wilton\nResources Holding Pte Ltd serves as the controlling shareholder. In July\n202le, Wilton Resources increased its ownership by 160 million shares,\nraising its stake to approximately 53.50% from the previous 52.47%. This\nindicates that the controlling party is maintaining its majority\nposition in SQMI amidst management changes and ongoing losses.<\/p>\n
Currently, SQMI\u2019s share price rose to the level of Rp84 per share, an\nincrease of 33.33% or 21.00 points during the first session on Tuesday\n(1\/9).<\/p>\n
PT Wilton Makmur Indonesia Tbk is primarily involved in the gold\nmining sector. The company was previously known as PT Renuka Coalindo\nTbk before rebranding to Wilton Makmur Indonesia. The Wilton Group\u2019s\nbusiness activities include gold exploration, mining, and the production\nof gold dore. The company\u2019s main asset is the Ciemas Gold Project\nlocated in Sukabumi Regency, West Java.<\/p>\n
The Ciemas Gold Project covers a concession area of approximately\n3,078.5 hectares. Wilton stated that the operational production mining\npermit (IUP-OP) for the area is valid until 7 September 2030.<\/p>\n
Broadly, SQMI\u2019s business lines can be divided into:<\/p>\n
Gold exploration: The company conducts exploration activities to\ndiscover and develop gold mineral resources in the Ciemas area.<\/p><\/li>\n
Gold mining: The Ciemas Gold Project is the primary asset for\nSQMI\u2019s mining activities. The area consists of several gold\nmineralisation prospects that have been explored.<\/p><\/li>\n
Processing and gold dore production: Wilton also possesses\nmineral processing facilities to produce gold dore, an intermediate\nproduct containing gold and silver before further refining.<\/p><\/li>\n<\/ol>\n
According to the company profile, the Ciemlag Gold Project has an\nestimated ore reserve of approximately 3.26 million tonnes with an\naverage grade of 7.7 grams of gold per tonne, based on the JORC report\nused by the company. Resource estimates also include approximately 3.415\nmillion tonnes of measured & indicated and 2.559 million tonnes of\ninferred resources. However, these resource and reserve figures should\nbe interpreted with consideration of the report date and underlying\ntechnical assumptions, rather than being viewed as immediate gold\nproduction.<\/p>\n
Regarding SQMI\u2019s latest performance, based on Indonesia Stock\nExchange (IDX) data, the latest financial performance is derived from\nthe H1 2026 financial report for the period ending 30 June 2026. The\ncompany recorded revenue of Rp591.04 million, down from Rp925.58 million\nin the same period the previous year. Gross profit also declined to\nRp406.04 million, compared to Rp439.28 million in H1 2025.<\/p>\n
Despite the decline in revenue, operating expenses were significantly\nreduced. While SQMI continues to record losses, the magnitude of the\nloss was reduced by approximately 50.9% year-on-year. This reduction in\nloss is primarily visible at the operating expense and operating loss\nlevels.<\/p>\n
In the first quarter of 2026 alone, SQMI recorded revenue of Rp302.45\nmillion and a net loss of Rp11.88 billion. Comparing this to the first\nhalf of the year, the second quarter of 2026 revenue was approximately\nRp288.59 million with a net loss of approximately Rp8.49 billion, based\non calculations from the six-month report. Thus, quarterly losses\nimproved compared to Q1.<\/p>\n
From the balance sheet perspective, SQMI\u2019s total assets as of 30 June\n2026 were recorded at approximately Rp512.32 billion, a slight decrease\nfrom Rp513.14 billion at the end of 2025. Meanwhile, total liabilities\nincreased to Rp422.30 billion from Rp402.45 billion on 31 December 2025.\nThis implies that although net losses were contained, SQMI\u2019s financial\nposition requires close monitoring as liabilities have increased while\nthe company continues to record net losses.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/ceo-reported-to-resign-a-look-at-sqmis-profile-and-latest-performance-1788281589", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }