The fall of Gudang Garam (2)

In theory, the unappropriated retained earnings can be passed on to the shareholders in the form of dividend payments. Cigarette maker Gudang Garam (GGRM) recorded unappropriated retained earnings of Rp60.7 trillion by Sept 30, 2024, more than twice the company’s market value (Rp26.2 trillion), which already lost more than 80% in the past two years.To subscribe please click here