History in Brief

The Company began its business with the establishment of PT Djangkar Djati in Medan, North Sumatera in 1964 for importing and exporting consumer goods to Singapore.

Based on the article 3 of the Company’s Articles of Association, the scope of activities of the Company comprises of trade, including export and import trade, either own trade or trade based on commission, construction, industry, workshop, transportation, agriculture and printing.

Since 1973, the business was also expanded to a wider range of products such as snacks, beverages, milk powder, instant noodle, personal care, cosmetics, medicine, household products and cooking oil.

In line with the increasing number of product varieties, the Company also expanded its distribution areas to big cities in Sumatera, Java and Kalimantan. In that year, the distribution business was transferred to PT Wicaksana Overseas Import, which in 1992 changed its name to PT Wicaksana Overseas International (the Company).

In 1994, the Company conducted a public offering of 20,000,000 shares with a par value of       Rp1,000 per share to the public at price of Rp3,250 per share. Up to December 1995, the proceeds from the IPO have been fully used in conformity with the Company’s plan at the time of listing. The Company has  executed a stock split from the nominal value of Rp1,000 to Rp500 which was listed as from  September 9, 1996. In 1997, the Company capitalized a substantial portion of the additional paid-in capital to capital stock with the proportion of 50 old shares for 34 new shares.

On  November 22, 2000, the Company, through a limited offering without pre-emptive rights (Right Issues) in accordance with the Capital Market Supervisory Agency (Bapepam) Rule No. IX.D.4, attachment to the Decision Letter of the Chairman of Bapepam No. Kep-44/PM/1998 dated  August 14, 1998, converted its bank loans amounting to US$9,349,799 to the Company’s shares, wherein every US$1 obtains six (6) shares or in total amounting to 56,098,805 shares with a par value of 500 per share. Market price per share at the time of conversion was Rp750. As a result, the total number of issued and fully paid is 277,858,805. All shares have been listed on the Indonesia Stock Exchange on April 9, 2001.

On October 19, 2006, the Company, through a limited offering without pre-emptive rights (Rights Issues) in accordance with the Bapepam rule No. IX.D.4, attachment to the Decision Letter of the Chairman of Bapepam No. Kep-44/PM/1998 dated August 14, 1998, converted its loan amounting to US$54,075,304 into the Company’s new shares of 991,092,172 shares with a par value of Rp500 per share. The issuance of new shares caused the increase in the Company’s authorised capital. The changes in the Company’s Articles of Association in relation with the increase in authorised capital was approved by the stockholders in accordance with the minutes of the extraordinary stockholders’ general meeting which was notarized in the Notarial Deed No. 30 of Imas Fatimah, S.H., dated December 14, 2006. The Company’s authorised capital increased from Rp400 billion to Rp900 billion with a par value of Rp500 and has been approved by the Ministry of Law and Human Rights in its Decision Letter No. W7-03894 HT.01.04-TH.2006 dated December 19, 2006. All shares totalling 1,268,950,977 shares have   been listed on the Indonesia Stock Exchange on March 26, 2007. In its records, the lowest share price in year 2012  was Rp52 in September and its highest was  at Rp81 in April 2012.

To distribute all these products, the Company operates a network of 30 distribution centers scattered across all major cities in Indonesia and supported by 338 employees. This broad distribution network has helped the Company’s success in gaining trust to distribute products from its  principals.