JAKARTA. PT Graha Layar Prima Tbk (BLTZ) has temporarily closed all CGV theatres in Indonesia following the Emergency Community Activities Restriction (PPKM) in Java and Bali.
Yeo Deoksu, Director of BLTZ, states that the regulation enforced by the Minister of Home Affairs has forced the company to pause the operational activities of CGV movie theatres. In the information disclosure in Indonesia Stock Exchange, Yeo has also not specified when the movie theatres would be reopened.
“Until further announcement from the government,” Yeo affirms.
According to idnfinancials.com data, BLTZ has just put 58 CGV movie theatres back in operation in mid-June 2021. But, even then, the reopened theatres only operate with a limited capacity to prevent COVID-19 spread.
CGI Holding Limited, the ultimate stockholder of BLTZ, has recently received working capital loans of USD 22 million. The loans equivalent to IDR 310.32 billion would be spent on settling a portion of maturing bank loans. (KR/ZH)