Matahari (LPPF) Officially Changes Name to MDS Retailing, What's Happening?

Jakarta, CNBC Indonesia - Retail giant Matahari Department Store has officially departed. This follows the decision to change the name of PT Matahari Department Store Tbk (LPPF) to PT MDS Retailing Tbk.

The decision was agreed upon at the Annual General Meeting of Shareholders (AGMS) held on 15 April 2026. However, in the disclosure of information, the reasons for the name change were not further explained.

“To approve the change of the Company’s name from PT Matahari Department Store Tbk to PT MDS Retailing Tbk,” said LPPF Corporate Secretary Susanto in the disclosure of information quoted on Friday (17/4/2026).

Therefore, the company is amending Article 1 paragraph (1) of the Company’s Articles of Association regarding the Company’s Name.

Quoting the disclosure of information from the Indonesia Stock Exchange (BEI), the decision has been approved by the shareholders through the Annual General Meeting of Shareholders (AGMS) held on 15 April 2026.

“Herewith we inform the Company’s shareholders that the Company will distribute a final cash dividend from the Company’s net profit for the fiscal year ending on 31 December 2025 (Final Dividend) of Rp250 per share,” wrote management on Friday (17/4/2026).

At the AGMS, LPPF shareholders also agreed to distribute a final dividend for the 2025 fiscal year of Rp250 per share.

The cum dividend in the regular and negotiated markets is on 23 April 2026, while the ex dividend in the regular and negotiated markets is on 24 April 2026. Then, the cum dividend in the cash market is on 27 April 2026, while the ex dividend in the cash market is on 28 April 2026.

The deadline for recording in the Register of Shareholders (Recording Date entitled to dividends) is on 27 April 2026. Meanwhile, the payment of the final dividend is on 4 May 2026.

Based on financial performance, LPPF recorded net revenue of Rp5.78 trillion in 2025, or a 9.6% decrease compared to 2024 which was Rp6.39 trillion. LPPF’s net profit also corrected by 12.4% year-on-year (yoy) to Rp725.4 billion compared to 2024 of Rp827.7 billion.