JAKARTA (Yosefardi) – PT Hanson International Tbk (MYRX) admits it had a deficit of Rp1.15 trillion as of December 2013 and the total current liabilities exceeded the current assets in significant numbers.
The company’s assets reached Rp133.61 billion while liability amounted Rp449.25 billion. The short term bank loan totaled Rp249.92 billion.
To deal with the situation, shareholders and management of the group has prepared a strategic plans, among others continually improve productivity and perform strategic cost reduction program and implementation of strict budget.
The company will also expand into property business and looking for other sources of funding through limited public offering in connection with the expansion plan.
MYRX will set up PT Pacific Millenium Land conducted by its subsidiary PT Mandiri Mega Jaya. Mandiri Mega will also sell the shares of several subsidiaries to Pacific Millenium. Mandiri Mega will also acquire PT Blessindo Terang Jaya.
MYRX turned to profit last year, compared to loss of Rp21.9 billion in 2012. Net sales jumped 45% to Rp170 billion. Its assets totaled Rp5.33 trillion.