MAHKOTA GROUP (MGRO) EXPLORES THE POSSIBILITY OF ISSUING BONDS
19 February 2020
Bisnis.com, MEDAN — PT Mahkota Group Tbk. is exploring the possibility of issuing bonds to strengthen the company's capitalization.
President Director of Mahkota Group Usli Sarsi said the company is indeed exploring capitalization with a bond scheme (green bond) from overseas investors. The plan, the proceeds from the issuance of bonds will be used for the development of waste management programs and refinancing.
The issuer coded MGRO shares is currently still in talks with stakeholders. Thus, the company has not been able to convey further regarding the corporate action plan.
“Talks with stakeholders are still ongoing to reach an agreement,” he told Bisnis as quoted on Friday (24/1/2020).
Furthermore, the company has realized capital expenditures of around IDR 325 billion. The majority of capital expenditure was used for the construction of a refinery plant that will soon be operational and the takeover of a palm oil mill in South Sumatra, while the rest was for machinery procurement and renovation of MGRO's head office.
For information, Mahkota Group through its subsidiary PT Berlian Inti Mekar has completed the acquisition process of a palm oil mill owned by PT Mahkota Andalan Sawit in Palembang with a value of IDR 120 billion.