JAKARTA - PT Indofarma announced that it will sell its assets worth around IDR 312.94 billion consisting of land and buildings located in 10 provinces in Indonesia.

President Director of PT Indofarma Tbk (INAF) Yeli Andriani in a public expose today Friday (13/12/2024) explained that the sale of these assets is a strategic step that can be taken and aims to improve the company's financial and operational conditions. ‘Financial and operational conditions were affected by fraud in subsidiaries,’ she explained.

The asset sale value of IDR 312.94 billion will be used for employee rightsizing, working capital and creditor payments.

She explained in detail that the asset sale involved 18 Building Rights Title Certificates (SHGB) spread across 10 locations, as well as non-production collateral assets located in Jakarta.

She ensured that the non-secured assets sold would have no impact on INAF's operations and performance. ‘These assets will not affect Indofarma's operations because they are in the form of vacant land, closed branch offices, and houses obtained from debtor defaults,’ she added.

The possible collateral asset that will be sold is the Marketing Office Building on Jl. Tambak, Central Jakarta. Yeli said that the asset, which is located on Jalan Tambak, is believed not to interfere with employee operations. ‘Because in Cibitung we have large and adequate assets and it is efficient if we join there, because everyone can work remotely.’

The asset sale, said Yeli, is expected to contribute significantly to the fulfilment of the company's financial obligations and strengthen PT Indofarma's position in the future. (DK/AM/LM)