Matahari Department Store Changes Name to MDS Retailing

The retail company PT Matahari Department Store Tbk (LPPF) has changed its name to PT MDS Retailing Tbk. The decision was taken at an Extraordinary General Meeting of Shareholders (EGMS) held on Wednesday, 15 April 2026.

“To approve the change of the company’s name from PT Matahari Department Store Tbk to PT MDS Retailing Tbk, and accordingly to amend Article 1 paragraph (1) of the Company’s Articles of Association regarding the Company’s Name,” management stated in a disclosure of information, quoted on Saturday, 18 April 2026.

The decision was approved by 93.181% of votes, or 1.58 billion shares out of 1.7 billion shares present.

If the proposed company name does not receive approval from the Ministry of Law and Human Rights or other relevant authorities, the board of directors, under the supervision of the board of commissioners, is authorised to determine and use an alternative name without further shareholder approval.

In addition, the EGMS approved the transfer of shares resulting from the share buyback or treasury shares through the withdrawal of 31 million shares. “Which constitutes all the shares that have been repurchased by the company based on the implementation of the company’s share buyback up to 9 April 2026, by way of a reduction in the company’s paid-up and issued capital,” management said.

On the same day, LPPF also held the Annual General Meeting of Shareholders (AGMS). The meeting approved the distribution of a final dividend from the company’s 2025 net profit of Rp250 per share.

Based on the consolidated financial statements, the company recorded a profit for the year of Rp725.4 billion. This figure is lower than the 2024 profit of Rp827.7 billion.