JAKARTA - PT Envy Technologies Indonesia Tbk (ENVY) is proposing to restructure its short-term debts, with a total value of Rp.49.30 billion, due to the impact of the COVID-19 pandemic on its business. The policies implemented by the government to fight the pandemic forced PT Ritel Global Solusi, ENVY's subsidiary, to stop its operations.
Ni Wayan Sukawidiani Resi, Corporate Secretary of PT Envy Technologies Indonesia Tbk (ENVY), said that due to the pandemic and its impact on its business, the company estimates that its revenue and net profit in Q1 2020 will be 51%-75% lower than its record in Q1 2019.
Because of that, the company will make several adjustments to keep its business running. (LK/AR)