JAKARTA - PT Modern Internasional Tbk (MDRN) has poured its capital of Rp 35 billion by converting debt from PT Modern Data Solusi (MDS) to share capital. MDS is a company that focuses on marketing Ricoh products such as multi-functional printing, production printing, and IT-managed document services.
Sungkono Honoris, President Director of PT Modern Internasional Tbk (MDRN), said that equity participation is expected to improve the cash flow of the subsidiary. "MDS has loans to companies and how to increase equity participation in MDS is done through lending to share capital," he said as quoted from the company's information disclosure.
Based on the company's financial statements, MDS shareholders agreed to increase authorised capital to Rp 50 billion from Rp 15 billion. Meanwhile, paid up and placed capital increased to Rp 35 billion from Rp 10 billion. The additional capital spent was Rp 25 billion, which was converted from an MDS loan at Modernland International.
On July 10, 2014, MDS signed a continuous loan facility (Post Import Financing) of Rp 30 billion from PT Bank Permata Tbk (BNII). The company also obtained an additional loan facility (PIF 2) of Rp 10 billion which was used to purchase printing production. (LK)