JAKARTA – PT Cipta Selera Murni Tbk (CSMI) plans to sell of its assets in the form of land and warehouse in Tangerang, Banten, to pay back some of debts that are due soon. As of September 2021, this managing company of Texas Chicken fast food chain is burdened with business debts of IDR 23.4 billion.
“The company will divest its central warehouse in Tangerang, then paying some of the debts,” Arriola Arthur Raphael, President Director of Cipta Selera Murni, confirmed in the information disclosure quoted Monday (18/4).
These debts consist of outstanding debt of IDR 12.77 billion and the maturing debt instalment. The latter is split into 1-30 days due of IDR 2.01 billion, 31-60 days of IDR 1.51 billion, 60-90 days of IDR 2.01 billion, 91-120 days of IDR 1 billion, and over 120 days of ID 3.54 billion.
Thankfully, the company had obtained the credit relaxation policy from banks last year. Therefore, its bank debts now amount to IDR 25.6 billion, comprising short-term debts of IDR 5.6 billion and long-term debts of IDR 19.9 billion.
Currently, the company utilises several land and building assets as a loan guarantee for banks. These assets include the ones located in Binjau Supermall, North Sumatra, another warehouse in Panunggangan Cipondoh, Tangerang, a shop-house in Kalibata Mall, Jakarta, and three shop-houses in Cikini, Menteng, Jakarta. (LK/ZH)