JAKARTA - PT Modern Internasional Tbk (MDRN) cancelled the acquisition of PT Nusantara Agri Sejati due to the cash flow of both companies. On 17 October 2017, Modern Internasional announced its plan to acquire PT Nusantara Agri Sejati, a cattle breeding and milk processing company.
Sungkono Honoris, President Director of PT Modern Internasional Tbk (MDRN) stated that the company did not spend any cash or added any asset that will be obligated to the company after the cancellation.
In the third quarter of 2018, the deficiency equity was recorded at Rp 332.21 billion, lower than its December 2017 number of Rp 410.59 billion. The current liabilities was recorded at Rp 1,01 trillion and the current asset was recorded at Rp 244.29 billion. In December 2017, the current asset was recorded at Rp 191.25 billion and the current liabilities was recorded at Rp 1.26 trillion.
For information, Modern Internasional wants to acquire the additional asset of PT Nusantara Agri Sejati as a strategy to restructure the company after the closure of 7-11 minimarket that was managed by PT Modern Sevel Indonesia. (LK/AR)