JAKARTA – PT Rajawali Corpora (RC), one of the shareholders of PT Express Transindo Utama Tbk (TAXI), crosses out the debt bill of IDR 142.62 billion to reduce TAXI’s burden. Johanes B. E. Triatmojo, Corporate Secretary of TAXI, confirmed the news in the information disclosure quoted Friday (22/4).
“The deal to disregard any bills, interests, and fines regarding the said debt is to reduce the debt of the group,” Triatmojo added.
RC is the owner of 10.7% of 10,223,647,156 shares of TAXI reported in March 2022. Other shareholders include UOB Kay Hian Pte Ltd of 17.27%, Zico Trust Ltd of 22.39%, Asuransi Multi Artha Guna of 5.53%, dan public of 44.11%.
According to Triatmojo, the transaction does need any shareholders’ approval in the Annual General Shareholders Meeting as TAXI’s working capital is at minus IDR 422.75 billion and total equity at negative IDR 520.32 billion reported in December 2021.
As of September 2021, TAXI owed long-term obligations to RC of IDR 169.84 billion. “The company will then claim the other income in the Report of Profit, Loss, and Other Comprehensive Revenue of the Consolidation of IDR 169.84 billion as of December 2021 after the debt nullification is finalised,” Triatmojo further added.
After this transaction, TAXI will manage to score a net profit and cut down its financial obligations in Financial Report of 2021. (LK/ZH)