PT VENTENY Fortuna International Tbk (VTNY) has conducted an Extraordinary General Meeting of Shareholders (EGMS) attended by the Board of Directors, Commissioners, and Shareholders of the Company. This meeting occurred at VENTENY’s headquarters in Jakarta, chaired by President Commissioner Chandra Firmanto.
During the EGMS activity, there were two agenda items presented. The first amendment is to the plan for using funds from the company’s IPO. The amendment to the purpose for the use of funds from the Initial Public Offering of Shares is in line with the dynamics of VENTENY’s business growth, where the Company will focus on business development in Indonesia and the development of systems, information technology, and products, especially for the Employee Superapp.
Founder and Group CEO of VENTENY, Jun Waide, stated, “The economic development in Indonesia in 2023 has experienced a significant increase. Additionally, during this election year, the opportunities for business turnover in various SME industries are more massive. Furthermore, witnessing the rapid growth of the VENTENY Employee Superapp, the Company is committed to developing systems, information technology, and products to accommodate the needs and interests of employees to enhance company productivity.”
The approved EGMS results have agreed to the plan to use funds from the Initial Public Offering:
- PT VENTENY Matahari Indonesia has received approximately 42% of the funding. There are no changes at this point.
- Approximately 16% is allocated for the Company’s Information Technology System Development, especially for developing the Employee Superapp.
- Around 18% is allocated for Product Development and research and development for Exclusive Members in the B2B2E business and general employees.
- Approximately 1% is allocated for Geographic Expansion to support the Company’s Development plans.
- Around 21% is allocated for Organizational Development and asset Acquisition to support Development.
- Approximately 2% is allocated for Marketing and Brand Development.
In 2023, VENTENY expanded its presence to several cities in Indonesia and opened a Representative Office in Palembang to facilitate business operations, especially in the Sumatra region. The company is also exploring other areas to establish additional Representative Offices in 2023. This strategy further strengthens VENTENY’s commitment to assisting more Micro, Small, and Medium Enterprises (SMSE) through productive financing to develop their businesses and provide services to enhance employee well-being through the VENTENY Employee Superapp.
Next on the agenda is the confirmation of the Company’s Shareholder Structure. The Public holds the largest share of VTNY with 58.09%, while CARTA HOLDINGS Co., Ltd owns 21.06% of VTNY shares, and Junichiro Waide, who is also the Founder and Group CEO of VENTENY, holds the remaining portion amounting to 20.85%.
As stated in VENTENY’s Public Expose last September, by mid-2023, the company has successfully achieved over 60% of its profit target of IDR 15 billion. Its close collaboration with strategic partners has contributed to VENTENY’s strong performance in 2023. From the Government and Associations to business associates, these entities have further intensified VENTENY’s primary focus, which is to support the growth of Small and Medium Enterprises (SMSE) in Indonesia through productive funding provided by VENTENY and the development of human resources via the VENTENY Employee Superapp. VENTENY firmly believes that for a company to grow, it also requires the best talents to support its operations.
