Indomobil Multi Services, Anthony Salim's Conglomerate-Owned Company Wants Rights Issue, How Much Is It Worth?

Illustration. (Irfan Meidianto/VOI)

JAKARTA - PT Indomobil Multi Jasa Tbk plans to take corporate action, namely the addition of capital by granting pre-emptive rights (HMETD) or rights issue. Indomobil Group's vehicle import and export company is still reviewing the total new shares and the nominal value to be issued.

Quoted from the disclosure of information on the Indonesia Stock Exchange (IDX) page, Friday, May 21, the company owned by conglomerate Anthony Salim will file a registration statement as soon as approval from the GMS will be held by the company on June 28, 2021.

The parent company of PT Indomobil Finance Indonesia plans to carry out capital additions within a maximum period of 12 months from the date of approval of the GMS in accordance with OJK regulations.

The management of the company codenamed IMJS shares is hoping that with the issuance of this rights issue will strengthen the capital structure in order to support business growth and improve the company's financial performance.

IMJS is a subsidiary of PT Indomobil Sukses Internasional Tbk (IMAS) and a member of Indomobil Group. Based on the last financial report reported in the third quarter of 2020, IMJS's revenue increased on an annual basis to Rp3.14 trillion from the same period in the previous year of Rp2.92 trillion.

Despite the increase in IMJS revenue, it suffered a net loss of Rp43.51 billion in the third quarter of 2020, while in the same period a year earlier the company recorded a net profit of Rp83.19 billion.