Jakarta, CNBC Indonesia – PT Bumi Resources Minerals Tbk (BRMS) is in arrears of Rp 484.4 billion to PT Aneka Tambang Tbk (ANTM). This arrears came from the purchase of 20% shares in PT Dairi Prima Mineral (DPM).
On September 20, 2018, ANTM sold 20% of the shares of the owner of the zinc mine in Dairi, North Sumatra, to BRMS. Payment for this transaction is made in stages by BRMS.
The first phase of payment is US$ 2.45 million. Then, the second stage of payment is worth US $ 31.4 million. “This second phase of payment should be paid in September 2020,” said Yulan Kustiyan, ANTM’s Corporate Secretary in an information disclosure, Thursday (6/1/2022).
Yulan added that the reason BRMS had not been able to make payments to ANTM was because the company was experiencing difficulties in funding projects at DPM. Thus, BRMS proposed an extension of the payment period and proposed an option regarding the resolution of the settlement of receivables to ANTM.
“Currently, we are reviewing the legal, governance and commercial aspects of the proposal submitted by BRMS,” explained Yulan.
Referring to the BRMS financial report as of September 31, 2021, the company’s cash availability is indeed in short supply. BRMS only has cash equivalent of around US$ 13.61 million. If converted into rupiah using an exchange rate of Rp. 14,300 today, the money in the BRMS pocket is only equivalent to around 194.59 billion.
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