PT MDS Retailing Tbk (stock code: LPPF) is Indonesia’s premier and most established retailer. Founded by Hari Darmawan, the Company has been a cornerstone of Indonesia’s retail landscape since 1958, when it opened its first store, a children’s fashion outlet in Jakarta. From this humble beginning, the business expanded over time, ultimately evolving into the country’s first modern department store in 1972.

Formerly known as PT Matahari Department Store Tbk, the Company entered a new chapter in 2026 as PT MDS Retailing Tbk, reflecting its evolution into a multi-concept retail network. Today, it has grown beyond its flagship Matahari Department Store format to build a diverse portfolio of brands and retail concepts, including SUKO, ZES, and MU+KU, alongside private labels such as Nevada, COLE, Connexion, and Little M. The Company currently operates more than 140 stores across nearly 80 cities in Indonesia.