Mayora, Beng-Beng And Kopiko Producer Owned By Conglomerate Jogi Hendra Atmadja Receives IdAA Rating From Pefindo
JAKARTA - PT Pemeringkat Efek Indonesia (Pefindo) has affirmed its idAA rating for PT Mayora Indah Tbk (MYOR) idAA with a stable outlook.
A similar rating was also given to the Shelf-Registered Bonds II Phase I Year 2020 Series A worth IDR157 billion which will fall on September 19, 2021.
"The company's readiness to pay off the maturing bonds is supported by cash and cash equivalents of IDR 4.7 trillion as of the end of March 2021", explained Pefindo, quoted on Tuesday, July 20.
Debt securities rated idAA differ slightly from those with the highest ratings. In addition, the obligor's ability to meet long-term financial commitments is very strong.
Mayora is a producer of packaged foods such as biscuits, candy, wafers, coffee, chocolate, and health foods. Popular products belonging to the conglomerate Jogi Hendra Atmadja include Kopiko, Astor, Beng-Beng, Choki-Choki, Energen, Tora Cafe, Gilus Mix, and Roma Biscuits.
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Jogi Hendra Atmadja, the owner of Mayora, is the 7th richest person in Indonesia according to Forbes as of December 2020. Jogi Hendra Atmadja's wealth reaches 4.3 billion US dollars. If converted into rupiah, Jogi's assets reach around IDR. 62 trillion.
The Company has production facilities in Banten and West Java. As of March 31, 2021, Mayora's shareholders are PT Unita Branindo 32.93 percent, PT Mayora Dhana Utama 26.14 percent, Jogi Hendra Atmadja 25.22 percent, and the public 15.71 percent.