ZINC - PT. Kapuas Prima Coal Tbk

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JAKARTA – Indonesia Stock Exchange (IDX) has temporarily suspended stock trading session of PT Kapuas Prima Coal Tbk (ZINC) as the company has yet to pay off principal of its Series E of Bonds I Year 2018 worth IDR 23 billion. However, it still managed to pay the 20th round of interest due today (21/12).

As quoted from the information disclosure of IDX, the temporary suspension of ZINC takes place starting from session I on Thursday (21/12) until further announcement by the stock exchange.

Previously, Hendra Susanto Willian, Director of ZINC, confirmed that the payment of 20th round of interest was made yesterday (20/12), sent to the account of Indonesia Central Securities Depository (KSEI). “As of now, the cashflow does not look good. Therefore, the company decided not to pay off bonds’ principal to sustain operational activities,” he admitted.

As of September 2023, this issuer recorded cash and cash equivalent of IDR 58.69 billion, total assets of IDR 2.59 trillion, liabilities of IDR 1.81 trillion, and total equity of IDR 780.21 billion. Net profit was halved to IDR 7.09 billion from the initial IDR 12.95 billion seen in the same period last year. (LK/ZH)