JAKARTA – PT Nusa Palapa Gemilang Tbk (NPGF) will pay off its outstanding loan after divesting its land and building in Sidoarjo, East Java.

In the prospectus quoted Monday (16/1), Uus Sudianto, President Director of Nusa Palapa Gemilang, listed some of its financial obligations to third parties, including bank loans, supplier debts, outstanding tax, and severance pay to employees. “The buyer came with an offer of IDR 275 billion to purchase the production facility of NPGF. It is equal to 135.80% of total equity of the company,” he said.

Until June 2022, NPGF reported total equity of IDR 199.34 billion. Its total liabilities and equity clocked up to IDR 375.70 billion, while its short-term bank loans amounted to IDR 123.23 billion.

The divested production plant used to manufacture NPK Steam, NPK Briquette, and micro fertilisers. It has a production capacity of 180 thousand tons of granulated steam fertilisers, 20 thousand tons of briquettes, and 20 thousand tons of pan granules. (LK/ZH)