AKARTA - PT Pool Advista Finance Tbk (POLA) files an objection to Attorney General’s Office regarding the confiscation of POLA’s office building worth IDR 47.37 billion in North Grogol, Jakarta.

Ferry Junarso, President Director of POLA, mentioned that the confiscation will affect operational activities of the company. “The value of assets according to the Financial Report of June 2024 is IDR 33.95 billion, which is recognised as depreciation expense,” he added in the information disclosure last Wednesday (4/9).

According to Junarso, if the office was executed, it would affect POLA’s financial performance, in which the loss worsened to IDR 33.95 billion, while total assets decrease by IDR 33.95 billion. It would also drag down return-on-assets (ROA), return-on-equity (ROE), and operating expenses operating income (BOPO) ratio.

In addition, there will also be additional expenses, including new building rental costs, fees for permits to move to a new office, and costs for moving office supplies and equipment to the new building.

Junarso further said that the company is making legal efforts to keep the assets from being executed, as the building purchase utilised IPO proceeds raised on November 18, 2018.

“The company must be responsible to shareholders to defend said assets from execution,” Junarso added.

POLA’s building was bought for IDR 47.37 billion, consisting of purchase value of IDR 45 billion, Land and Building Rights acquisition fee of IDR 2.24 billion, and cost of title transfer, roya, and income tax validation for the rights of IDR 135.5 million.

It is known that East Jakarta General Attorney’s Office will execute seized state assets under the name of the convict, Heru Hidayat, related to PT Asabri (Persero) corruption case. (LK/ZH)