JAKARTA. PT Mahaka Media Tbk (ABBA), the media company established by Erick Thohir, the Minister of State-Owned Enterprises (BUMN), received a sanction from Indonesia Stock Exchange due to its delay in submitting the Financial Report H1 2021.
The stock exchange relayed this information earlier today (2/12) through an official letter. In the said notice, the exchange gave a Written Warning II along with a fine of IDR 50 million to ABBA.
“Based on our observation, until November 30, 2021, ABBA has not yet disclosed the financial report as of June 30, 2021, that had been audited by public accountants,” Adi Pratomo Aryanto, the Head of Company Appraisal I of IDX, explained.
For the record, according to idnfinancials.com record, ABBA suffered from a loss of IDR 58.33 billion by the end of 2020. It was even worse than the year before, facing a loss of IDR 44.29 billion.
Moreover, until the end of Q1 2021, ABBA reported another loss of IDR 88.18 billion. By March 31, 2021, the company was left with cash and cash equivalents of only IDR 16.56 billion. (KR/ZH)