JAKARTA - PT Tira Austenite Tbk (TIRA) requested to postpone the payment of principal and interest of its loans to banks, due to the impact of COVID-19 pandemic on its business. At present, the company's short-term liability is recorded at Rp 15 billion.
In the disclosure of information published on Wednesday (27/5), Soeseno Adi, Corporate Secretary of PT Tira Austenite Tbk (TIRA) said that his party has made adjustments to its operations in a number of regions that implemented Large-Scale Social Restrictions (PSBB) policy such as in Jakarta, Bogor, Tegal, Surabaya, Makassar, and other cities. "Our sales activities are affected because we cannot conduct direct visits to hold meetings, workshops and seminars," he said.
According to him, the impact of this outbreak is expected to affect both the company's revenue and net profit by around 25% and 51% respectively. (LK/AR)