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December 13, 2024 | 12:01 pm
TEMPO.CO, Jakarta - PT Bakrie & Brothers Tbk (BNBR), owned by the Aburizal Bakrie family, issued 13.3 billion new shares through the Public Company Capital Increase with Pre-emptive Rights (PMTHMETD) scheme on Wednesday, December 11, 2024. These new shares were used to pay IDR 885 billion in debt to two investors, Eurofa Capital Investment Inc (ECII) and Silvery Moon Investment Ltd (SMIL).
"Series E ordinary shares or 7.70 percent of the company's issued and fully paid-up capital after the PMTHMETD," said the BNBR Board of Directors in an information disclosure on the Indonesia Stock Exchange (IDX) website on Thursday, December 12, 2024.
The board of directors said that after the PMTHMETD, BNBR's total issued and fully paid-up capital has increased to 173,416,832,509 shares or Rp 4,764 trillion.
BNBR management hoped this step could improve the company's financial position. "Where the Company will have a healthier debt ratio, reduced financial expenses, and stronger cash flow in the future," BNBR said on Wednesday, October 23, 2024.
Based on BNBR's consolidated financial statements, which ended on December 31, 2023, liability items in the Company's Financial Statements that meet the PMTHMETD conditions following the provisions of Article 8B letter (c) POJK Number 32 of 2015. Long-term loan items to Eurofa creditors amounting to USD 50,000,000 or equivalent to IDR 770.8 billion and short-term loan items - third parties to SMIL creditors with total receivables of IDR 465.1 billion.
Before issuing these new shares, BNBR had also signed a cooperation in the green energy industry sector with Envision Energy International Ltd (Envision) in Beijing, China, on Sunday, November 10, 2024. The cooperation includes the construction of Floating Solar Power Plants and Wind Power Plants between the two institutions.
BNBR Director Roy Hendrajanto M. Sakti and Envision Senior Vice President Hu Yingchun signed the Memorandum of Understanding (MoU). The two companies signed the agreement during the Indonesia-China Business Forum 2024 in Beijing, which was organized by Kadin Indonesia and attended by President Prabowo Subianto.
"We are proud to be able to play an important role in the country's green energy industry transformation as part of our commitment to the principles of sustainability business," Roy said in a written statement on Sunday.
Roy said this cooperation step is an opportunity to support the government's encouraged domestic growth program. He claimed that foreign investment will enter Indonesia in the future to develop green energy.
"Later, there will be more foreign investment in the country, especially in the development of green energy," Roy said.
ADIL AL HASAN | AGUNG SEDAYU
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