Kantong Restu Rights Issue, GMFI Mau Terbitkan 11.7 Miliar Saham Seri B

Photo: Doc. Antara

JAKARTA - Garuda Indonesia's subsidiary engaged in aircraft maintenance, PT Garuda Maintenance Facility Aero Asia Tbk (GMFI) received the blessing of conducting a rights issue or additional capital by granting pre-emptive rights (PMHMETD) in December 2024.

GMFI President Director Andi Fahrurrozi said this additional capital would be carried out by issuing Series B Shares, which aim to strengthen the capital structure and strengthen the Company's equity position.

Through the Extraordinary General Meeting of Shareholders (EGMS) which was held today, it was agreed to issue as many as 11.7 billion new Series B shares with a nominal value of IDR 25 per share.

Andi also said that Garuda Indonesia, as the main shareholder, took a portion of 89.1 percent of the issued shares.

"This step is part of our strategy to ensure that GMFI has a healthy capital structure and can continue to support sustainable business growth," he said in a virtual press conference, Monday, October 28.

Funds obtained from this rights issue, continued Andi, will be used as working capital to ensure smooth operation and meet the basic needs of the company, such as purchasing raw materials and improving services.

In addition, Andi continued, the funds will support GMFI's efforts to improve operational efficiency to ensure that the standard quality of aircraft maintenance is in accordance with applicable regulations.

"With this right issue plan, GMFI will have better flexibility in asset management and utilization, especially those related to Maintenance, Repair, and Overhaul (MRO) activities, to ensure compliance with applicable regulations," he said.

According to Andi, this rights issue is not just a financial step, but is a strategic effort to ensure that GMFI has flexibility in optimizing the company's core assets.

"With additional capital, we will be more aggressive in maximizing operational efficiency and accelerating investment in important sectors such as MRO technology, which will have a long-term impact on our competitiveness in the global market," he said.

Just for information, in the first half of 2024, GMFI recorded significant performance improvements. GMFI's revenue until June 30, 2024 was recorded at 216.48 million US dollars, which surpassed the achievement in the same period the previous year of 166.91 million US dollars.

The net profit increased to 13.26 million US dollars, compared to 2.04 million US dollars in the same period the previous year, showing strong growth of 548.9 percent. GMFI's EBITDA also experienced a significant increase of 29 percent to 31.72 million US dollars compared to the same period in 2023.