JAKARTA – PT Trikomsel Oke Tbk (TRIO), a smartphone and accessories distributor, is currently seeking a third party to assist in converting the debt owed to PT Sukses Perdana Prima (SPP) to equity in its subsidiary, PT Globe Kita Terang Tbk (GLOB).

Sugiono Wiyono Sugialam, President Director of TRIO, claimed that the company will attempt to name said third party in the first quarter of 2023. “The name of the third party will be informed to the creditor bank and SPP in order to aid them in making decision and granting approval,” he explained in the information disclosure quoted Tuesday (17/1).

The management of TRIO is reportedly looking for new investors to raise its working capital, as the suspension of its stock transaction has affected the company’s performance. “The recovery of macro-economy, along with the relaxation of activity restriction, is expected to attract investors,” Sugialam said.

Until September 2022, TRIO recorded bank debts that are to be converted in SPP of IDR 343.93 billion.

On May 12, 2020, foreign creditors concluded the certificate transfer, which includes the transfer of outstanding debts to SPP, alongside the confirmation of Madison Pacific Trust Limited as an agent. The creditors in question are PT Bank ANZ Indonesia that loaned IDR 54.31 billion, Standard Chartered Bank, Jakarta of IDR 123.55 billion, Standard Chartered Bank, Singapore of USD 4.54 million and USD 10.5 million, Deutcshe Bank AG, Jakarta of IDR 70.91 billion, and Deutsche Bank, Singapore of USD 6.81 million. (LK/ZH)