JAKARTA - PT Sarana Mitra Luas Tbk (SMIL) has gained approval from shareholders to seek new credit facilities or extend its existing credit facilities. This was announced by Hadi Suhermin, President Director of SMIL, as quoted in the minutes of Extraordinary General Meeting of Shareholder today (9/9).

“Shareholders gave approval to the board of directors to guarantee the entire or most of the company’s assets in one or several transactions, stand-alone or related to each other, in order to secure financing facility obtained by the company from third parties, including both extension and refinancing,” Suhermin said.

The EGMS secured approval from shareholders representing 7.11 billion shares, or 81.279% of total valid votes. For this plan, shareholders have also given the greenlight for the Boards of Directors of SMIL to submit a corporate guarantee.

As of June 2024, SMIL recorded total assets of IDR 883.72 billion, total liabilities of IDR 160.56 billion, and total equity of IDR 723.16 billion.

Its revenue reached IDR 178.11 billion in H1 2024, up from IDR 173.69 billion seen in H1 2023. However, its gross profit slipped to IDR 58.74 billion from IDR 72.52 billion, further dragging the profit for the year down to IDR 36.68 billion from IDR 40.03 billion. (LK/ZH)