EGMS of Cinema XXI Approves Changes to the Composition of the Board of Commissioners
Jakarta, July 12, 2024 - PT Nusantara Sejahtera Raya Tbk (Cinema XXI, stock code: CNMA), the largest cinema chain operator in Indonesia with more than 35 years of experience in the film exhibition industry, held an Extraordinary General Meeting of Shareholders (“Meeting”) on Friday, July 12, 2024. The EGMS approved changes to the composition of members of the Board of Commissioners, among others:
- appointment of Ongki Wanadjati Dana as President Commissioner of Cinema XXI, and concurrently serving as Independent Commissioner, effective from the closing of the Meeting until the remaining term of office as Independent Commissioner;
- appointment of Ariani Vidya Sofjan as Independent Commissioner of Cinema XXI, effective from closing the Meeting for the same term of office as other Independent Commissioners; and
- appointment of Edwin Surya Winarta as Commissioner of Cinema XXI, effective from the closing of the Meeting for the same term of office as the President Commissioner.
Cinema XXI's President Director, Suryo Suherman, stated that the appointment of the new President Commissioner and Members of the Board of Commissioners is a strategic move to enhance the company's corporate governance and performance. "Following today's Meeting, the shareholders have approved the appointment of President Commissioner, who also serves as an Independent Commissioner, and the addition of two Commissioners, including one Independent Commissioner to the Company. The support of the President Commissioner and all Members of the Board of Commissioners of Cinema XXI is expected to drive positive performance and synergy between the Board of Commissioners, Board of Directors, and management of Cinema XXI in realizing our vision of becoming the best cinema chain in the world and the pride for Indonesia," Suryo said.
The new structure of Cinema XXI's Board of Commissioners is as follows:
| President Commissioner/ Independent Commissioner | : Ongki Wanadjati Dana |
| Commissioner | : Melia Suherman |
| Commissioner | : Harris Lasmana |
| Commissioner | : Sacheen Harris Lasmana |
| Commissioner | : Edwin Surya Winarta |
| Independent Commissioner | : M. Noor Rachman Soejoeti |
| Independent Commissioner | : Ariani Vidya Sofjan |
Suryo mentioned that Cinema XXI will continue implementing various strategic initiatives to achieve performance growth targets. Cinema XXI has reported a 47.6% (year-on-year/yoy) revenue growth, amounting to IDR1.3 trillion in the first quarter of 2024. This growth has also resulted in a 107.2% increase in EBITDA, amounting to IDR382.5 billion, and a net profit for the Company of IDR154.0 billion, an increase of 701.7% from the same period in 2023.
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About Cinema XXI
Cinema XXI, operates under the auspices of PT Nusantara Sejahtera Raya Tbk, is the largest cinema chain operator in Indonesia with more than 35 years of experience in the film exhibition industry. Cinema XXI is committed to always providing the best moviegoing experience and convenience for the people of Indonesia. As of May 31, 2024, Cinema XXI has presented 1,312 screens in 248 cinema locations across 61 cities/regencies throughout Indonesia.
In 2006, Cinema XXI launched m.tix to facilitate SMS-based cinema ticket ordering which was then developed into an online-based application. In 2012, Cinema XXI presented a movie-viewing experience with revolutionary technology, namely the IMAX theater. To better improve the services given to customers, Cinema XXI has also equipped the theaters with the latest "Dolby Atmos" audio system, which is now available on 75 screens.
Not only a place to watch movies, Cinema XXI is also a second home for people to spend quality time with family and friends. Cinema XXI presents an unforgettable moviegoing experience for today and tomorrow. For three consecutive years in 2017, 2018, and 2019 Cinema XXI has been awarded the "World Branding Award" in Kensington, London as the Best Brand in the Entertainment Cinema Category (National Tier). In early 2019, Cinema XXI was also been awarded the "Millennials Top Brand Awards" by one of the preferred media of Indonesia’s young generation as the first choice of millennials for the category of leading cinema network in Indonesia. Despite the pandemic condition, in 2020, Cinema XXI was named "Industry Champion of the Year" by the Asia Corporate Excellence and Sustainability (ACES) Awards and “Indonesia Best Managed Company” by Deloitte in 2023.