Code of Ethics

The values outlined in this Code of Ethics serve as a guide for Business Ethics and Work Ethics not only for employees and management but also for members of the Board of Directors and Board of Commissioners in fulfilling their responsibilities at work and interacting with others effectively, efficiently, and safely. The Company is also committed to upholding the Code of Ethics with regard to investors, customers, business partners, and other stakeholders.

Therefore, the Company recognizes the importance of implementing the Code of Ethics to enhance competitiveness and achieve sustainable long-term business growth. This Code of Ethics was officially enacted in March 2022 and has been disseminated to all employees. Since then, the Business and Work Ethics Guidelines have become an integral part of the onboarding program for all new employees and have been incorporated into the Company’s learning and competency development curriculum.

The Company’s Business and Work Ethics Guidelines include:

Risk Management

One of the main objectives of the risk management system is to effectively reduce potential risks. To achieve this goal, risk management must be carried out systematically, structurally, and be integrated into all business processes. The Company has established methodologies in risk management, including risk assessment, strategy development to manage risks, and risk mitigation through resource management.

Throughout 2024, the Company has identified potential risks that may arise in the course of its business activities. These risks are classified into two categories: operational risks that significantly affect business continuity and financial risks. Details of these risks and the Company’s mitigation efforts are presented in the table below:

Appointment of Public Accountant

The appointment of the Public Accounting Firm and the determination of audit fees are based on the Audit Committee’s recommendations to the Board of Commissioners, and subsequently approved by the Annual General Meeting of Shareholders (AGMS) on April 24, 2024, in accordance with the regulations of the Financial Services Authority. The external audit of the Company's Financial Statements for the fiscal year 2023 has been conducted in accordance with prevailing regulations, particularly the Professional Standards of Public Accountants, and the terms of engagement and scope of audit as agreed upon.

CAPITAL MARKET SUPPORTING INSTITUTIONS

External Auditor
The Company’s consolidated financial statements for the year ended December 31, 2024, were audited by:
Paul Hadiwinata, Hidajat, Arsono, Retno Palilingan & Partners (Member of PKF International)
Head Office:
42nd Floor, UOB Plaza Building
Jl. M.H. Thamrin Lot 8-10, Central Jakarta 10230
Phone: (62-21) 29932121
Fax: (62-21) 29932113

Share Registrar
PT Bima Registra
Satrio Tower, 9th Floor
Jl. Prof. Dr. Satrio Blok C4 No.5, South Jakarta 12950

VISION, MISSION, AND CORE VALUES

Vision
To become a company producing the best zero-waste agribusiness commodities, focused on value-added and environmental sustainability.

Mission
To build a sustainable and environmentally friendly agribusiness by applying innovative best practices in agronomy to deliver optimal value to all stakeholders.

LOGO MEANING

• Green: Symbolizes life

• Blue Circle: Represents water, symbolizing love for the Earth

• Outer Gold Ring: Symbolizes glory

• MKTR Lettering: Represents the Company's name, PT Menthobi Karyatama Raya

OUR PROFILE

On December 31, 2020, the Company officially changed its name to PT Menthobi Karyatama Raya following a share acquisition by PT Maktour Bangun Persada. The name change was legalized by Notarial Deed No. 36 by Notary Andhika Mayrizal Amir, SH., M.Kn., and approved by the Ministry of Law and Human Rights on January 28, 2021.

In 2022, the Company conducted its Initial Public Offering (IPO) on the Indonesia Stock Exchange, issuing 2.5 billion shares with a par value of IDR 10 per share. Since then, the Company has held the status of a Public Company and is officially named PT Menthobi Karyatama Raya Tbk.

As of December 31, 2024, the Company owns a total planted area of 1,807.94 hectares, some of which have been allocated to smallholder farmers, in line with Indonesian government regulations.

The Company emphasizes sustainable governance by integrating processes from plantation, processing, to the utilization of by-products. This is in line with the Company’s vision to be a leading producer of sustainable and environmentally friendly agricultural products through best agronomy practices.

The Company continues to innovate in creating value-added products, not only for business growth but also for the environment and the palm oil industry at large. A strong commitment to sustainability underpins all company efforts to deliver the best products to society.

KEY MILESTONES

• 2005: PT Menthobi Makmur Lestari (Subsidiary) was established on July 30, 2005, in Central Kalimantan.

• 2007: First oil palm planting, covering approximately 947.47 hectares.

• 2011: Commencement of commercial production from planted palm oil estates.

• 2016:

  • Shareholding change in PT Menthobi Makmur Lestari, acquired by Mr. Fuad Hasan Masyhur and PT Maktour Bangun Persada, as per Notarial Deed No. 44 dated November 9, 2016, by Humberg Lie, SH., M.Kn.

  • Became part of Maktour Group, a leading Hajj and Umrah travel agency in Indonesia.

• 2017:

  • Company established under the initial name PT Accinvest Bangun Lestari (Deed No. 01 dated October 4, 2017).

  • Subsidiary’s palm oil plantation yield reached 21.5 tons/ha/year.

• 2018:

  • Expansion of plantation area by 1,276.8 hectares, total reaching 8,000 hectares.

  • Plantation yield improved to 24.5 tons/ha/year.

• 2019: Construction of a Compact Modular Continuous (CMC) Palm Oil Mill.

• 2020:

  • Company renamed to PT Menthobi Karyatama Raya on December 31, 2020.

  • CMC Palm Oil Mill inaugurated on March 15, 2020, with capacity of 30 tons/hour (expandable to 45 tons/hour).

• 2021: Achieved Oil Extraction Rate (OER) of 23% and 107% utility using CMC system.

• 2022: Listed on Indonesia Stock Exchange under the ticker code MKTR.

• 2023:

  • Subsidiary PT Menthobi Hijau Lestari (MHL) began operations with a new factory processing solid and liquid by-products into organic and biofertilizers (capacity: 3–5 tons/hour).

  • Promoted green industry by converting palm oil waste into fertilizer.

  • Acquired PT Khatulistiwa Sinergi Omnidaya (adjacent land to MKTR) per Deed No. 11, August 28, 2023.

• 2024:

  • On October 1, 2024, MHL (subsidiary) partnered with PT Berlian Inti Mekar (subsidiary of PT Mahkota Group Tbk) to launch a Granule Compost Fertilizer Plant in Palembang, South Sumatra, with a capacity of 40 tons per day.