PMMP sells Rp135 billion assets to reduce debt amid export slowdown
Thekabarnews.com—Indonesian seafood producer PT Panca Mitra Multiperdana Tbk (PMMP) has sold off important operating assets worth Rp135 billion. This move is part of its plan to pay off its debts and...
Thekabarnews.com—Indonesian seafood producer PT Panca Mitra Multiperdana Tbk (PMMP) has sold off important operating assets worth Rp135 billion. This move is part of its plan to pay off its debts and get its finances back on track.
The company that produces frozen shrimp and largely exports to markets outside of Indonesia acknowledged the purchase. It sent a notice to the Indonesia Stock Exchange (BEI).
According to the PMMP’s management, PT Tri Mitra Makmur (TMM), a subsidiary, held the assets.
The sale involved selling the company’s buildings, machines, and production facilities. It also included land in Situbondo, East Java, that was roughly 66,835 square meters.
PMMP sold the assets to PT Nusantara Seafood Adhikarya for a total of Rp135 billion.
The bank was responsible for the reorganization that led to the sale. The company’s management said it was necessary to relieve financial stress.
The bank that lent the money insisted on selling the asset as part of the restructuring process. PMMP announced in a statement on Monday, March 16, that this measure will assist in decreasing interest payments. It will also help pay back some of the company’s loan principal.
The deal will generate funds solely for debt repayment. The business said it sent all the money to PT Bank Central Asia Tbk (BCA) to pay off its debts.
The corporation is experiencing trouble with money because sales in the US have been going down. Since the start of 2024, the US has been PMMP’s biggest export market.
Because demand dropped down, the corporation had to develop methods to cut costs. Some of these methods included laying off workers and temporarily shutting down certain factories.
Since the start of 2025, PMMP has been able to make less. The business used to have seven factories in Situbondo, but currently it only uses the biggest one. Management thinks that this location is the greatest spot to create all of its shrimp goods.
The sale of the properties illustrates that Indonesia’s seafood export business is in poor shape. This is because demand is changing and the global market is not steady.
In a challenging worldwide market, PMMP wants to stay in business. It also wants to improve its finances by paying off debt and making its operations run more smoothly.
No Comment! Be the first one.