JAKARTA – PT Agro Yasa Lestari Tbk (AYLS) sells off its land and building assets worth IDR 10.50 billion to speed up its bank debt payment and cut off financial expenses. AYLS’s performance had indeed slowed down due to the COVID-19 pandemic that started in 2020.
Indra Jaya David Pardosi, President Director of Agro Yasa Lestari, mentioned that selling the assets gave the company a net profit of IDR 1 billion, thus reducing the depreciation expense this year. “The sales of the building assets would not affect operational processes as the said activities would take place in the old Gondangdia building,” he reassured in the information disclosure, quoted Wednesday (6/10).
AYLS’s assets are located in Rawamangun, Jakarta, worth IDR 9.6 billion, and in Cileungsi, West Java, IDR 900 million. Other than the revenue gained from selling these assets, the fund sources for covering its debts would come from the receivables of its consumers.
It was also revealed that the company’s sales in the first half of 2021 amounted to IDR 1.09 billion, down 76.11% from the same period last year. As mentioned before, it is due to the pandemic that affected its operational activities. “This year, the company aims to generate sales from cash and with a shorter amount of payment period compared to the private sector,” Pardosi added. (LK/ZH)