Reported Earnings • Jun 24
Full year 2025 earnings released: Rp5.12 loss per share (vs Rp0.099 profit in FY 2024) Full year 2025 results: Rp5.12 loss per share (down from Rp0.099 profit in FY 2024). Revenue: Rp23.9b (down 12% from FY 2024). Net loss: Rp17.6b (down Rp17.9b from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 122 percentage points per year, which is a significant difference in performance. New Risk • May 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 8.5% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Share price has been volatile over the past 3 months (12% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (Rp33b revenue, or US$1.9m). Market cap is less than US$100m (Rp469.4b market cap, or US$26.3m). Buy Or Sell Opportunity • Feb 25
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 29% to Rp183. The fair value is estimated to be Rp234, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jan 07
Now 24% overvalued Over the last 90 days, the stock has fallen 55% to Rp280. The fair value is estimated to be Rp226, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company has become profitable. 공고 • Dec 18
PT. Multi Makmur Lemindo, Annual General Meeting, Jan 26, 2026 PT. Multi Makmur Lemindo, Annual General Meeting, Jan 26, 2026. Buy Or Sell Opportunity • Dec 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to Rp276. The fair value is estimated to be Rp228, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Nov 06
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 248% to Rp278. The fair value is estimated to be Rp228, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 12% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: Rp0.93 (vs Rp0.24 in 3Q 2024) Third quarter 2025 results: EPS: Rp0.93 (up from Rp0.24 in 3Q 2024). Revenue: Rp14.5b (up 62% from 3Q 2024). Net income: Rp2.26b (up 216% from 3Q 2024). Profit margin: 16% (up from 8.0% in 3Q 2024). 공고 • Oct 16
Pt Morris Capital Indonesia acquired an additional 43.78% stake in PT. Multi Makmur Lemindo (IDX:PIPA) from Junaedi, Hendrik Saputra and Nanang Saputra. Pt Morris Capital Indonesia acquired an additional 43.78% stake in PT. Multi Makmur Lemindo (IDX:PIPA) from Junaedi, Hendrik Saputra and Nanang Saputra on October 10, 2025. As part of the acquisition, Pt Morris Capital Indonesia acquired 1.5 billion shares in PT. Multi Makmur Lemindo. On completion, Pt Morris Capital Indonesia holds 48.88% stake in PT. Multi Makmur Lemindo.
Pt Morris Capital Indonesia completed the acquisition of an additional 43.78% stake in PT. Multi Makmur Lemindo (IDX:PIPA) from Junaedi, Hendrik Saputra and Nanang Saputra on October 10, 2025. Board Change • Oct 14
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 new directors. No experienced directors. 2 highly experienced directors. No independent directors (3 non-independent directors). Director . Junaedi is the most experienced director on the board, commencing their role in 2012. Independent Commissioner Ramdani Saputra was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. 공고 • May 12
PT. Multi Makmur Lemindo, Annual General Meeting, Jun 17, 2025 PT. Multi Makmur Lemindo, Annual General Meeting, Jun 17, 2025. Reported Earnings • Nov 02
Third quarter 2024 earnings released: EPS: Rp0.26 (vs Rp0.028 in 3Q 2023) Third quarter 2024 results: EPS: Rp0.26 (up from Rp0.028 in 3Q 2023). Revenue: Rp8.96b (up 9.6% from 3Q 2023). Net income: Rp716.5m (up Rp633.3m from 3Q 2023). Profit margin: 8.0% (up from 1.0% in 3Q 2023). The increase in margin was driven by higher revenue. Reported Earnings • Aug 01
Second quarter 2024 earnings released: Rp0.55 loss per share (vs Rp0.071 profit in 2Q 2023) Second quarter 2024 results: Rp0.55 loss per share (down from Rp0.071 profit in 2Q 2023). Revenue: Rp4.02b (down 54% from 2Q 2023). Net loss: Rp1.63b (down Rp1.95b from profit in 2Q 2023). Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Rp7.00, the stock trades at a trailing P/E ratio of 52x. Average trailing P/E is 7x in the Building industry in Indonesia. Total loss to shareholders of 87% over the past year. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to Rp10.00, the stock trades at a trailing P/E ratio of 74.3x. Average trailing P/E is 7x in the Building industry in Indonesia. Total loss to shareholders of 82% over the past year. New Risk • Jun 01
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: Rp154.1b (US$9.56m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 12% over the past year. Market cap is less than US$10m (Rp154.1b market cap, or US$9.56m). Minor Risks Profit margins are more than 30% lower than last year (1.5% net profit margin). Revenue is less than US$5m (Rp32b revenue, or US$2.0m). New Risk • May 20
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 26% over the past year. High level of non-cash earnings (59% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Revenue is less than US$5m (Rp31b revenue, or US$2.0m). Market cap is less than US$100m (Rp171.3b market cap, or US$10.8m). New Risk • Aug 16
New major risk - Revenue and earnings growth Revenue has declined by 20% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 20% over the past year. High level of non-cash earnings (123% accrual ratio). Minor Risks Less than 3 years of financial data is available. Revenue is less than US$5m (Rp33b revenue, or US$2.1m). Market cap is less than US$100m (Rp171.3b market cap, or US$11.2m).