Jakarta, CNBC Indonesia – Debt entanglement in state-owned companies is still happening, this time PT Barata Indonesia (Persero) which has a high debt value and has just escaped from the bondage of Delayed Debt Payment Obligations (PKPU).
In the material presented at the Working Meeting of the Working Committee on Restructuring and Restructuring SOEs regarding Barata Indonesia, it was stated that the company had a debt of Rp 3.47 trillion after the PKPU process with an equity value of Rp 510 billion.
Before the PKPU process took place, the debt value reached Rp. 4.09 trillion with negative equity of Rp. 110 billion.
“There is a reduction in liabilities due to the write-off of bills and adjustments to interest/fines,” the exposure material said, Thursday (14/12/2021).
The company was just freed from the PKPU trap on December 6, 2021, which was marked by a homologation decision between the company and its creditors.
All of these debts will be restructured with different tenors, with maturities of six to 10 years.
Post-PKPU the company will do a business turn around by focusing on the company’s core business in the component business, packages, services and systems/subsystems.
In addition, financial conditions will also continue to be improved by transforming the business model to generate cash and optimizing the portfolio of existing assets. In addition, the company will also optimize sources of non-banking financing.
(my / hps)
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