Indofarma will pay off debt at Bank Mandiri
JAKARTA - PT Indofarma (Persero) Tbk (INAF), a subsidiary of PT Biofarma (Persero) obtained a loan of IDR 355 billion to pay off debt and working capital. This loan is around 69.64% of the company's equity as of December 2021 of IDR 508.30 billion.
Arief Pramuhanto, President Director of PT Indofarma (Persero) Tbk (INAF) said that the interest rate on the loan is 6.15% per year for six years since the signing of the shareholder loan agreement. "The Annual General Meeting of Shareholders (AGM) for the approval of this plan will take place next week (31/5)," he said in an information disclosure quoted on Friday (27/5).
According to him, the loan will be used to pay off debts at PT Bank Mandiri (Persero) Tbk (BMRI) worth IDR 249.58 billion and working capital of IDR105.41 billion. By closing the debt at the bank, the company's liquidity will improve with a current ratio of 144.9% and a quick ratio reaching 109.91% in 2023. The company's solvency will decrease with a debt to equity ratio of 117% in 2017 to 70% in 2026 and 43.4% in 2027. (LK/LM)