Developing business, Mustika Ratu to sell assets for IDR 199.4 billion
JAKARTA. PT Mustika Ratu Tbk (MRAT) divests some of its assets worth IDR 199.4 billion to support the development of its business, both in the domestic and international market.
Jodi Andrea Suryokusumo, Corporate Secretary of MRAT, revealed that those divested assets include three lots located in Cibuntu, Kuningan, West Java. These three tracts of land each have a total area of 27,692 square metres, 69,724 square metres, and 2,385 square metres.
"After analysing the financial projection before and after the transaction plan, it could be concluded that the company will be able to increase its performance within the medium term," Suryokusumo said in the information disclosure in Indonesia Stock Exchange (IDX)
The proceeds of MRAT's assets will be used to drive its export market forward through extending distribution networks in several countries. Furthermore, the company will also allocate most of the proceeds to develop its products and expand the franchise of its Taman Sari Royal Heritage Spa outlets within the country and abroad. (KR/ZH)