WOOD - PT. Integra Indocabinet Tbk

Rp 790

-15 (-1,90%)

JAKARTA – PT Integriya Dekorindo (ITD) obtained additional fresh funds worth IDR 123.30 billion following the takeover of 74.86% of PT Integra Indocabinet Tbk’s (WOOD) shares by PT Integra Indo Lestari (IIL). Wang Sutrisno, the Director of Integra Indocabinet, announced the news in the information disclosure, quoted Monday (17/5).

The shares’ takeover takes effect because ITD needs long-term capital in a considerable amount. As a furniture distribution and retail business company, ITD is still at its early stage of development. “The contribution of ITD’s retail network to total assets and profit is still small, reaching 4.2% and 1.7%, respectively,” Sutrisno claimed.

According to Sutrisno, the shares’ transfer to IIL would improve ITD’s condition, as ITD still suffers from loss. The said trade is deemed the best measure compared to transferring the stock to unaffiliated parties.

As of March 31, 2021, the authorised capital of WOOD reached IDR 2 trillion, while its issued and paid-up capital was at IDR 639.62 billion. IIL owned 71.87% of the shares, while the remaining 28.13% belonged to the public.

Based on the deed of resolution of shareholder’s decision on September 26, 2019, IIL’s authorised capital was IDR 366 billion, and its issued and paid-up capital was IDR 266 billion. Sinergi Mentari Alam (SMA) owned 40% of the shares, Duta Emerald Utama (DEU) 25%, and Alam Mentari Sejahtera (AMS) 35%. (LK/ZH)