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Today is the deadline for Hero to explain about the closure of Giant outlets

27 June 2019 12:00

JAKARTA - Today (27/6) is the deadline for PT Hero Supermarket Tbk (HERO) to explain its plan to close down a number of Giant outlets to the Indonesia Stock Exchange (IDX). 

Director of Corporate Valuation in IDX, IGD Nyoman Yetna Setya, said that Hero, as the parent company of Giant, must have a reason for the closure plan, and it must be explained to the public.

Initially, IDX gave an opportunity for the parties concerned to prepare answers until Wednesday (26/6/2019). However, by that time, Hero has not given any explanation to IDX. 

 "We give them the opportunity tomorrow (27/6) to provide a comprehensive answer," he said at that time. 

The six outlets that will be closed are located in Cinere Mall, Mampang, Pondok Timur, Jatimakmur, Cibubur, and Wisma Asri. 

In Q1 2019, Hero has recorded a net loss of Rp 3.52 billion. (ARM/AR)

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