JAKARTA — PT Modern Internasional Tbk (MDRN) seeks loans to gain extra working capital, planning to submit a guarantee of over 50% of the company's assets.

Martino, Corporate Secretary of MDRN, claimed that his company will first ask for approval of its shareholders regarding the guarantee and divestiture of assets of over 50%. "Said plan will be discussed further during the Extraordinary General Shareholders Meeting," he added, as quoted today (12/1).

Until September 2022, MDRN recorded an equity deficit of IDR 378.85 billion, improving from December 2021 of IDR 411.01 billion. However, its assets also declined from IDR 246.56 billion in December 2021 to IDR 240.35 billion in September 2022.

The company's revenue hit IDR 56 billion in Q3 2022, while its gross profit reached IDR 21.73 billion, and its net profit clocked up to IDR 32.15 billion. (LK/ZH)