Jakarta, CNBC Indonesia – The Media Group spoke about a request for Postponement of Debt Payment Obligations (PKPU) to PT China Sonangol Media Investment (CMSI), a joint venture between Surya Paloh’s Media Group and PT China Sonangol Land.
Media Group CEO Mirdal Akib said the Media Group is an inactive shareholder in CMSI. CMSI itself is a separate entity that has its own business processes without any intervention from the Media Group company.
“The point is, we are not active shareholders. The active shareholder is China Sonangol,” said Mirdal in the Central Jakarta area, Friday (20/11/2020).
He explained that despite being a shareholder, Media Group does not have direct access to CMSI, even to the company’s operations.
“… CMSI is an independent business entity so they do business and corporate activities according to AD / ART and business plan and their plans without our intervention …, “he continued.
Regarding the PKPU process proposed by his business partners, Mirdal explained that this was a business process that occurred, especially during this pandemic. So that according to him, the process will continue.
As previously reported, this PKPU was proposed by the construction issuer of the Astra Group, namely PT Acset Indonusa Tbk (ACST) and two other parties, China Construction Eighth Engineering Division Corp Ltd and PT Bintai Kindenko Engineering Indonesia.
Registration for PKPU applications is carried out on November 12, 2020 with case number 385 / Pdt.Sus-PKPU / 2020 / PN Niaga Jkt.Pst. The Respondent is China Sonangol Media Investment.
The legal authority of the Applicant is Alamo Dewanta Laiman SH LLM.
This PKPU submission is related to the completion of the Indonesia 1 Tower Building project with CMSI as the project provider. This project has a contract value of Rp. 1.06 trillion, of which Acset is 100% owned. This building is the second tallest in Indonesia with 303 meters covering 64 floors.
This project contract was received in April 2017 with a work period of 47 months or 4 years. The project location is on Jalan MH Thamrin, Central Jakarta.
Meanwhile, CMSI is a joint venture between PT China Sonangol Land and the Media Group.
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