JAKARTA – PT Panasia Indo Resources Tbk (HDTX), a textile and garment manufacturer, has sold some of its assets to several interested parties since yesterday. This asset divestment acts as an alternative following the partial termination of its operational activities that has been taking place since 2017.
In the information disclosure quoted Friday (22/7), Enrico Haryono, President Director of Panasia Indo Resources, said that the transaction value of this divestment will be collected gradually. “The company tries to secure the working capital by divesting some of its assets, particularly the ones that are no longer productive,” he added.
According to Haryono’s words, the present operational condition of HDTX is not promising. Until December 2021, the company managed to increase its revenue from IDR 10.60 billion in 2020 to IDR 11.76 billion. However, the loss was still there, albeit slightly improving. In 2021, the loss arrived at IDR 41.76 billion, whereas in 2020, the loss reached IDR 47.92 billion.
Haryono did not specify those interested parties that will acquire HDTX’s assets. For the record, until December 2021, HDTX recorded current assets of IDR 14.08 billion and non-current assets of IDR 331.29 billion, bringing it into a total of IDR 346.37 billion. (LK/ZH)