JAKARTA - PT Darma Henwa Tbk (DEWA) is continuing its efforts to eliminate an accumulated loss or deficit of Rp1.08 trillion by offsetting (netting off) currency adjustment balances against negative retained earnings (deficit).

Previously, the company had planned to seek shareholder approval for this deficit elimination plan during the Extraordinary General Meeting of Shareholders (EGMS) scheduled for February 13, 2025.

DEWA’s Director, Ahmad Hilyadi, in a written response to the Indonesia Stock Exchange (IDX) on Monday (January 7), stated, "The company is still conducting an internal review of the currency net-off plan, so further actions regarding this plan cannot yet be disclosed."

According to its third-quarter 2024 financial report, DEWA recorded currency adjustments of Rp1.46 trillion, while the deficit or negative retained earnings amounted to Rp1.08 trillion.

On December 30, 2024, this mining services company held an EGM with two agendas. The first was the approval of a capital increase without pre-emptive rights, aimed at converting debt into new series B shares.

The second agenda involved the approval of changes to Article 4, Paragraph 2 of the company’s Articles of Association related to the increase in issued and paid-up capital as part of the PMTHMETD process. (DK)