Leyand International’s weakened performance continues
JAKARTA – PT Leyand International Tbk (LAPD) shows no signs of significant improvement in its performance within the past year. Its diesel power plant in Medan has not yet operated, and there has not been a word regarding continuity of the contract with PT Perusahaan Listrik Negara (PLN).
Alie Budi Susanto, the Corporate Secretary of Leyand International, claims that the company is still working on the new contract extension with PLN and currently exploring new business fields in the energy sector. “The financial performance has not shown an impressive result following the halt in the operational activities of the company’s electric power plant,” Susanto explains in the information disclosure, quoted Wednesday (30/6).
In its Q1 2021 report, Leyland reports the current year’s loss of IDR 13.95 billion, dropping from IDR 39.16 billion in Q1 2020. Its net loss clocks up to IDR 7.99 billion, declining from IDR 9.90 billion loss. These decreasing losses are the result of LAPD’s optimum efficiency strategies in other expenses, reducing it to IDR 5 billion from IDR 25.62 billion.
Susanto admits that the company is struggling to negotiate with PLN during the COVID-19 pandemic. However, the management is still committed and responsible for achieving the company’s current objectives. “The company still has a responsibility to its stakeholders, including the creditors and suppliers, that needs to be performed,” Susanto adds.
In Q1 2021, LAPD’s total liability reaches IDR 265.51 billion, climbing from IDR 259.19 billion in the same period last year. The company suffers from an equity deficit of IDR 154.304 billion, higher than IDR 140.27 billion last year. (LK/ZH)