JAKARTA - PT Merdeka Battery Materials Tbk (MBMA) will pay off its 2024 MBMA Bonds I Series A, which will mature on April 10, 2025. From the company's financial statements as of the third quarter of 2024, the company's cash and cash equivalents are more than enough to pay off the obligation.

Deny Greviartana Wijaya, Corporate Secretary of MBMA said that the company has provided funds to pay off the fourth interest and principal of Bonds I Year 2024 Series A. "The funds will be paid to PT Kustodian Sentral Efek Indonesia (KSEI) before April 10, 2025," he said in an information disclosure quoted on Tuesday (11/3).

The bonds, worth IDR 525 billion, were first issued on April 4, 2024. The interest rate is fixed at 7.5% per year and interest payments are made quarterly.

In the third quarter of 2024, the company had USD 212.98 million in cash and cash equivalents. Loans due within a year include bonds payable of USD 34.25 million and lease liabilities of USD 1.82 million.

The company's revenue was recorded at USD 1.37 billion in Q3 2024, up 57.96% year-on-year (yoy) from USD 873.86 million, whilst its gross profit rose 29.24% yoy to USD 79.36 million from USD 61.40m. Lastly, its net profit was USD 18.46 million, skyrocketing 2,627% yoy from USD 677,097. (LK/LM)