Help Restructuring Performance, Danantara Injects IDR 30.4 Trillion To Garuda Via Private Placement
JAKARTA - The Anagata Nusantara Power Investment Management Agency (BPI Danantara) injected 1.84 billion US dollars or equivalent to IDR 30.4 trillion (assuming an exchange rate of IDR 16,535 per US dollar) to PT Garuda Indonesia (Persero) Tbk.
Citing the information disclosure of the Indonesia Stock Exchange (IDX), the injection of funds was carried out by a Danantara subsidiary, namely PT Danantara Asset Management (Persero) through the addition of Capital without Pre-emptive Rights (PMTHMETD) or private placement.
"The implementation of PMTHMETD by DAM (Dantara Asset Management) as affiliated parties is carried out by considering the urgency of overall improvement of the Company's financial position, as well as urgent funding needs to maintain the business and operational continuity of the Company and its subsidiaries," Garuda management wrote, quoted Thursday, October 9.
The DAM injection into Garuda Indonesia consists of two parts. First, cash deposits of US$1.44 billion, which will be carried out through the share collection issued in PMTHMETD.
Second, the conversion of shareholder loans or shareholder loans (SHL) into new shares. The value reaches 405 million US dollars or equivalent to Rp6.65 trillion.
In the open document, Garuda Indonesia explained that additional capital was made to improve the company's financial health. In addition, capital injections are also to strengthen Garuda's foundations in the future.
Management also explained that the use of these funds included 29 percent being used for working and operational capital financing, which includes payment of aircraft maintenance and repair costs.
Then, 37 percent was used to increase capital on Citilink in the context of financing Citilink's working capital and operations, which includes paying for aircraft maintenance and repair costs.
Then, 22 percent was used to expand the company's fleet and Citilink.
Then, the remaining 12 percent are used to increase capital on Citilink, which will be used to make payments for the debt of purchasing Citilink aircraft fuel from Pertamina for the period 2019 to 2021.
"The use of PMHMETD proceeds is expected to have a positive impact on improving the Company's financial position, increasing equity, strengthening the capital structure, and supporting the sustainability of the Company's business and its subsidiaries in the future," the management wrote.
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Selanjutnya, Garuda Indonesia akan meminta persetujuan pemegang saham dalam Rapat Umum Pemegang Saham Luar Biasa (RUPSLB) yang akan diselenggarakan pada 12 November 2025 di Tangerang.
Pemegang Saham Perseroan yang berhak hadir atau diwakili dalam RUPSLB tersebut adalah Pemegang Saham Perseroan yang namanya tercatat dalam DPS pada tanggal 20 Oktober 2025 pukul 16.00 WIB.
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Furthermore, Garuda Indonesia will seek the approval of shareholders at the Extraordinary General Meeting of Shareholders (EGMS) which will be held on November 12, 2025 in Tangerang.
The Shareholders of the Company who are entitled to attend or be represented at the EGMS are the Shareholders of the Company whose names are recorded in the DPS on October 20, 2025 at 16.00 WIB.