FOUNDER who is now serving as President Director (Dirut) of PT Jababeka Tbk (KIJA) Setyono Djuandi Darmono plans to sell the company’s assets in Cikarang at a low price.
This action is one of the company’s efforts to pay off debts of US$ 280 million in the form of bonds in United States (US) dollars and loans from PT Bank Mandiri Tbk (BMRI).
“Asset sales are the first step to pay off debt, the target is to pay off US$ 100 million first this year. We have to sell assets that we think are ‘beautiful’ in Cikarang,” said Darmono, in Jakarta, Wednesday (17/7).
Darmono said, land bank or Jababeka’s land bank in the Cikarang area is 5,000 hectares (ha). Meanwhile, the land price market in the Cikarang area is predicted to reach Rp3 million per meter.
“In the past, land there was cheap, but over time the price has increased rapidly,” he said.
Darmono admitted that he would sell off the land to be sold so that the company’s assets would be sold quickly. If the company is able to pay off the US$ 100 million debt, the remaining debt will drop to US$ 180 million.
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“Thus, the company’s debt payment burden will also decrease and improve the company’s performance in the future,” explained Darmono.
According to Darmono, there are several road map which will be carried out by the company.
Releasing assets, he said, was done to improve the company’s finances and regain shareholder confidence.
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After restoring the trust of the greeting card holders, Darmono also plans to carry out right issue because the money that should be used to pay interest can be diverted to expansion.
“This program might raise the price of greetings once more. We are forced to work, work, cut loss, sales asset which is ripe and cut bleeding,” he explained.
Jababeka (KIJA) Deputy President Director T Budianto Liman emphasized that the company’s debt that must be paid will mature in 2027.
The amount of debt is in the form of US dollar bonds worth US$ 180 million and a loan from Bank Mandiri of US$ 100 million.
“The company wants to make payments faster to maintain the company’s financial condition and performance. Currently our company is in good condition, even many parties are offering funding for us,” he pointed out. (Z-10)
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