JAKARTA - The Indonesia Stock Exchange (IDX) asked PT Hero Supermarket Tbk (HERO) as the holding company of Giant to give an explanation regarding the plan to close some of Giant outlets.
This was confirmed by the Director of Corporate Valuation of the Indonesia Stock Exchange, I Gede Nyoman Yetna, who said that his party was responsible for everything that was done by the companies listed on IDX.
"Surely they will be given an opportunity. Is it related to the business strategy that is being carried out, or efficiency, we are waiting for an answer," he said on Monday (24/6/2019).
Therefore, he continued, IDX gave a chance for the parties concerned to prepare answers until Wednesday (26/6/2019). "We ask them if there is information that needs to be stated. We certainly give them the opportunity to prepare the answers. Because we want the answers to be comprehensive," he said.
The six outlets that will be closed are located in Cinere Mall, Mampang, Pondok Timur, Jatimakmur, Cibubur, and Wisma Asri. The plan is directly accompanied by a huge discount promotion that helps attract customers.
Based on its financial statements, in Q1 2019, the company suffered a net loss of Rp 3.52 billion. (ARM/AR)