PT Mitra Keluarga Karyasehat Tbk. ("Mitra Keluarga" or "the Company", listed as “MIKA” on the Indonesian Stock Exchange) has announced its financial results for the period ending June 30^th, 2023.

Performance Highlights

Q-o-Q

Mitra Keluarga realized satisfactory performance growth by posting 2Q23 Revenue and EBITDA of Rp1,021.2 billion and Rp361.2 billion, respectively. Both Inpatient Admissions and Inpatient Days continued to rise, up by 1.8% and 0.3%, respectively, compared to 1Q23 figures. However, Outpatient Visits declined, compared to 1Q23, settling by -5.0%, considering the situation in 2Q23:we entered the month of Ramadan, with joint holidays, long school holidays and long Eid al-Fitr holidays, historically the quietest period for the hospital industry.

There was an increase in revenue intensity, with average inpatient revenue per day reaching Rp3.5 million in 2Q23 compared to Rp3.4 million in 1Q23, representing a 0.8% Q-o-Q increase. Similarly, average revenue per outpatient visit in 2Q23 increased to Rp488.2 thousand, from Rp483.5 thousand in 1Q23, showing a 1.0% Q-o-Q rise.

Y-o-Y

Compared to the same period of the previous year, Mitra Keluarga recorded an increase in revenue for 2Q23, reaching Rp1.02 trillion, up 4.2% over 2Q22's revenue figure of Rp980.0 billion. In terms of volume, Mitra Keluarga reported a rise in patient numbers for 2Q23, with 747 thousand, an 8.3% rise from 2Q22's 690 thousand patients.

Mitra Keluarga achieved 1H23 revenues and EBITDA of Rp2.05 trillion and Rp722.1 billion, respectively.

Inpatient admissions, inpatient days and outpatient visits in 1H23 grew by 15.9%, 13.6%, and 9.6% compared to the same period (1H22) in the previous year,.

As of the end of June 2023, Mitra Keluarga is operating a total of 29 Hospitals, consisting of 20 Mitra Keluarga Hospitals and 9 Kasih Hospitals. A total of 3,733 operational beds was recorded in 1H23, increased by 11.7% compared to 1H22. average 1H23 bed occupancy rate was 58.7%.

Mitra Keluarga continues to expand its broad range of professional services across the Mitra Keluarga network, through continuous service complexity upgrades. In January 2023, the Company opened its first Radiotherapy Center, situated in Mitra Keluarga Bekasi Timur. Currently, a second Radiotherapy Center is under construction, with an opening planned by the third quarter of 2023.

The Company maintains a strong net cash position of Rp1.4 trillion as of 1H23.

Growth Strategies

Mitra Keluarga will continue to add capacity, through both greenfield and brownfield hospital expansion plans:

• In July 2022, the Company started construction on its 30th hospital, located in Grandwisata, Bekasi, West Java; the new facility has a capacity of 200 beds and projected to commence operations in 2023.
• Mitra Keluarga plans to commence construction on two new hospitals in 2H23, with capacities of up to 120 and 200 hospital beds; the facilities are projected to commence operations by 2024.
• Investigating and exploiting appealing M&A opportunities around the archipelago remains one of Mitra Keluarga’s key growth strategies.

Hospital Digitization Conversion

To provide optimal hospital services, Mitra Keluarga continues to pursue a multi-year digital transformation initiative, launched and aimed at automating procedures and simplifying our hospital routines. The objective is to be able to deliver prompter, more responsive and fully-transparent health care to all patients. Examples of these innovative efforts are:

• Implementation of an integrated end-to-end New Hospital Information System (HIS) as the basic foundation for an up-to-date “digital hospital”. All Mitra Keluarga hospitals will be required to implement the new HIS in 2023. As of 1H23, two hospitals are in the process of transforming to accommodate the new HIS.

• Launching and developing the Mitra Keluarga Mobile Application, to expedite patient experience and serve as a “patient escort”. This application was launched in mid-January 2023, and various other features will be provided to complement the Mitra Keluarga Mobile Application service. As of 1H23, it has been downloaded more than 80 thousand times and has successfully served 55 thousand online bookings.

PT Mitra Keluarga Karyasehat Tbk at a glance

The Company built its first hospital back in 1989 and currently owns and operates 29 hospitals, eighteen of which are located in the Greater Jakarta area, five in West Java, four in Surabaya (East Java), and two in Central Java. Normally, the hospitals are equipped with emergency rooms, outpatient clinics, inpatient wards, operating rooms, intensive care units and a pharmacy, as well as laboratory and radiology facilities. The hospitals also offer specialized services such as obstetrics, pediatrics, internal medicine, angioplasty, orthopedic surgery and neurosurgery, amongst others.

From its humble beginnings, The Company has transformed into one of Indonesia’s biggest private hospital operators by an intake of 2.9 million patients in 2022; in terms of hospital bed capacity, there are 3,469 operational beds as of December 31, 2022. The Company employed approximately 8,302 medical and non-medical staff, with some 1,515 specialists practicing in all of its hospitals by end-2022.

The Company successfully listed its shares in the Indonesia Stock Exchange on March 24, 2015. With 18.03% free-float, the Company has a total of 14,246,349,500 shares with a market capitalization of Rp45.4 trillion as of December 31, 2022. (IDX:MIKA).

 PT MITRA KELUARGA KARYASEHAT Tbk

 ("The Company")

SUMMARY OF ANNUAL GENERAL MEETING OF SHAREHOLDERS AND

SCHEDULE OF PROCEDURES FOR DISTRIBUTION OF CASH DIVIDENDS

The Board of Directors of PT Mitra Keluarga Karyasehat Tbk (hereinafter referred to as the Company) hereby announces the Annual General Meeting of Shareholders (AGMS) held on Tuesday, May 23, 2023. In compliance with the OJK Regulation No. 15/POJK.04/2020 on the Planning and Holding of the General Meetings of Shareholders of Public Companies, hereby we deliver the summary are as follows:

AGMS

A. Place, date, and time of AGMS

B. AGMS Agenda

1. Approval of Annual Report of the Company, including the Board of Directors Report, the Board of Commissioners Supervisory Duty Report and ratification of Financial Report of the Company for financial year 2022 audited by Public Accountant registered on OJK, and granted a full release and discharge (acquit et de charge) to all members of the Board of Directors and the Board of Commissioners for their management and supervisory actions to the Company within the financial year ended December 31, 2022.

2. Approval on the appropriation of the Company’s Net Profits for the financial year ended December 31, 2022.

3. Approval on the reappointment of the members of the Board of Directors and Board of Commissioners of the Company.

4. Determination of salary for the Company’s Board of Directors and Board of Commissioners for year 2023 and to determine the honorarium of the Company’s Board of Directors and Board of Commissioners for financial year 2022.

5. Appointment of Independent Public Accounting Firm Amir Abadi Jusuf, Aryanto, Mawar and partner, as a Public Accounting Firm registered with the Financial Services Authority (OJK) to audit the Company's Financial Statements for the financial year ended December 31, 2023 and authorize the Board of Commissioners to determine the honorarium of the Independent Public Accountant and other appointment’s conditions.

For the Company’s requirement, a Minutes of the Company's Annual General Meeting of Shareholders is made, dated May 23, 2023, under number 172 (Reference Letter No. 419/Sl.Not/V/2023).

C. The Meeting are chaired by the President Commissioner and attended by members of the Board of Commissioners and Directors as follows:

D. The meeting was attended by shareholders and power of attorney of the shareholders representing 13,393,539,428 shares or 96.30% of 13,907,481,500 shares which constituted all shares with valid voting rights issued by the Company after deducting the number of shares purchased returned by the Company.

E. Shareholders and Shareholders' attorneys were given the opportunity to raise questions and / or opinions for the agenda meeting. There are no shareholders and the power of shareholders who ask questions and / or opinions for the agenda meeting.

F. The decision-making mechanism in the Meeting is as follows:

Decision making of all agenda is carried out based on deliberation to reach consensus, in the event that deliberation to reach consensus is not reached, decision making is carried out by voting.

G. The results of the AGMS Voting are as follows:

H. The results of the AGMS are as follows:

1. Approved and ratified Company's Annual Report of the Company for fiscal year ended December 31, 2022, including the Board of Directors Report, the Board of Commissioners Supervisory Duty Report and ratification of Financial Report of the Company for fiscal year ended December 31, 2022 audited by Public Accountant registered on OJK, and granted a full release and discharge (acquit et de charge) to all members of the Board of Directors and the Board of Commissioners for their management and supervisory actions to the Company within the financial year ended December 31, 2022. 

2. a. Approved the use of the Company's net profit for the year ending December 31, 2022 as follows:

i. Distributed as cash dividends Rp37.00 (thirty-seven Rupiah) per share to shareholders, as listed on the Company's shareholders list on the recording date, to be determined by the Directors, taking into account applicable tax regulations;

ii. Rp10,079,916,426.00 (ten billion seventy-nine million nine hundred sixteen thousand four hundred and twenty-six Rupiah) allocated and recorded as a reserve fund;

iii. The remainder is recorded as retained earnings, to increase the Company's working capital; 

  b. Giving authority and power to the Directors of the Company to take any and all necessary actions in connection with the above-mentioned decision, in accordance with applicable laws and regulations.

3. a. Re-appointed:

           - Mr. RUSTIYAN OEN, as President Director;

           - Mrs. JOYCE VIDYAYANTI HANDAJANI, as Director;

           - Mrs. dr. NURVANTINA PANDINA, as Director;

           - Mr. JOZEF DARMAWAN ANGKASA, as President Commissioner;

           - Mrs. SHINTA DEVIYANTI SETIAWAN, as Commissioner;

           - Mrs. ISJE AYUSARI, as Commissioner;

           - Mr. JOHANNES SETIJONO, as Independent Commissioner;

           - Mr. dr. I GUSTI GEDE SUBAWA, as Independent Commissioner;

           effective as of the closing of this Meeting.

 b. To appoint the composition of the Company’s Board of Directors and Board of Commissioners as of the closing of this Meeting until the closing of the Annual General Meeting of Shareholders of the Company in 2026, as follows:

Board of Directors

President Director : Mr. RUSTIYAN OEN

Director : Mrs. JOYCE VIDYAYANTI HANDAJANI

Director : Mrs. dr. NURVANTINA PANDINA

Board of Commissioners

President Commissioners : Mr. JOZEF DARMAWAN ANGKASA

Commissioner : Mrs. SHINTA DEVIYANTI SETIAWAN

Commissioner : Mrs. ISJE AYUSARI

Independent Commissioner : Mr. dr. I GUSTI GEDE SUBAWA

Independent Commissioner : Mr. JOHANNES SETIJONO

  c. Giving authority and power to the Directors of the Company, with the right of substitution, to pour / state the decision regarding the composition of the Directors and Board of Commissioners of the Company in the deed made before a Notary, and henceforth notify it to the authorities, and take all and every action which is needed in connection with the decision in accordance with the applicable laws and regulations.

4. a. Approved and determined the salaries and / or honoraria for the members of the Board of Commissioners of the Company as a whole for fiscal year 2023 not to exceed 1% (one percent) of the total net income of the Company in 2022; delegating the Board of Commissioners the authority to determine their allocations, taking into account input / recommendation from the Nomination and Remuneration Committee.

  b. Giving authority to the Company's Board of Commissioners to determine salaries and / or benefits for members of the Company's Board of Directors, taking into account input / recommendations from the Company's Nomination and Remuneration Committee.

5. a. Re-appointed Public Accounting Firm Amir Abadi Jusuf, Aryanto, Mawar and partner, as a Public Accounting Firm registered with the Financial Services Authority to audit the Company's Financial Statements for the financial year 2023.

  b. Re-appointed Mr. Eishennoraz as Public Accountant registered with the Financial Services Authority who is a member of the Public Accounting Firm Amir Abadi Jusuf, Aryanto, Mawar and partner to audit the Company's Financial Statements for the financial year 2023.

  c. Giving authority and power to the Board of Commissioners to:

i. appoint a substitute Public Accountant registered with the Financial Services Authority who is a member of the Public Accounting Firm Amir Abadi Jusuf, Aryanto, Mawar and partner (if necessary) to audit the Company's Financial Statements for the 2023 financial year;

ii. appoint a substitute Public Accounting Firm, in the event that the Public Accounting Firm Amir Abadi Jusuf, Aryanto, Mawar and partner for any reason cannot complete the audit of the Company's Financial Statements for the 2023 financial year;

iii. perform other necessary matters in connection with the appointment and/or replacement of a Public Accountant Firm registered with the Financial Services Authority including, but not limited to, determining the number of honoraria and other conditions in connection with the appointment of a Public Accountant Firm registered with the Financial Services Authority;

- by taking into account the recommendations of the Audit Committee and prevailing laws and regulations.

The Directors of the Company hereby also announce the Schedule and Procedures for the Distribution of Cash Dividends as follows.

Cash Dividend Payment Schedule:

 Procedure for Paying Cash Dividends:

1. This announcement is an official notification from the Company, and the Company does not specifically issue notifications to the Shareholders.
2. Payment of cash dividends is given to Shareholders whose names are registered in the Register of Shareholders of the Company on April 27, 2023 at 16.00 WIB or referred to as the Recording Date of Shareholders entitled to Dividends.
3. For Shareholders whose shares are recorded in the Collective Custody of Indonesian Central Securities Depository ("KSEI"), dividend payments according to the above schedule will be made by bookkeeping through KSEI, and then KSEI will distribute them to the account of the Securities Company or Custodian Bank. a place where Shareholders open accounts.
4. Shareholders who are still using slips, where their shares are not included in KSEI's collective custody, and want dividend payments to be made through a transfer to the Shareholders' bank account, can notify the bank's name and address and Shareholder account number no later than the date April 27, 2023 in writing to:

Biro Administrasi Efek (“BAE”)

PT Adimitra Jasa Korpora

Rukan Kirana Boutique Office

Jl. Kirana Avenue III Blok F3 No. 5

Kelapa Gading, Jakarta 14250

Telp: +6221 2974 5222. Fax: +6221 2928 9961

5. Based on the applicable tax laws and regulations, the cash dividend will be excluded from the tax object if it is received by the shareholder of the domestic corporate taxpayer ('WP Badan DN') and the Company does not deduct Income Tax on the cash dividend paid to the WP Badan DN. Cash dividends received by shareholders of domestic individual taxpayers ('WPOP DN') will be excluded from the tax object as long as the dividends are invested in the territory of the Republic of Indonesia. For WPOP DN that does not meet the investment provisions as mentioned above, the dividends received by the person concerned will be subject to income tax (‘PPh’) in accordance with the applicable laws and regulations, and the PPh must be paid by the WPOP DN concerned in accordance with the provisions of Government Regulation no. 9 of 2021 concerning Tax Treatment to Support the Ease of Doing Business.
6. Shareholders of the Company can obtain confirmation of dividend payments through securities companies and or custodian banks where Shareholders of the Company open a securities account, then the shareholders of the Company must be responsible for reporting the dividend receipts referred to in tax reporting for the respective tax year in accordance with the applicable taxation laws and regulations.
7. For Shareholders who are Foreign Taxpayers whose withholding tax use the rate based on the Double Taxation Avoidance Agreement ('P3B'), must comply with the requirements of the Director General of Taxes Regulation No. PER-25/PJ/2018 concerning Procedures for the Application of Double Taxation Avoidance Agreement, as well as submitting a document of proof of record or receipt of DGT/SKD that has been uploaded to the website of the Directorate General of Taxes to KSEI or BAE in accordance with the provisions and regulations of KSEI regarding the deadline for submitting DGT/SKD. Without this document, the cash dividend payment will be subject to Article 26 Income Tax of 20%.

Jakarta, May 24, 2023

Board of Directors

PT Mitra Keluarga Karyasehat Tbk

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