Mayora, Beng Beng And Kopiko Producers Owned By Conglomerate Jogi Hendra Atmadja Prepares Cash Funds For Paying IDR 500 Billion Of Debt Instruments

Management of PT Mayora Indah Tbk. (photo: Doc. Antara)

JAKARTA - Investors who own PT Mayora Indah Tbk (MYOR) Phase I Sustainable Bonds I 2017 can breathe a sigh of relief. The reason is, the company has prepared funds to pay off bonds which will mature on February 24.

"We have provided funds that will be used for the payment of interest and principal for the 2017 Mayora Indah continuous bond I when it matures," said Mayora's Corporate Secretary Yuni Gunawan in a statement, Thursday, February 3.

Yuni added that the source of funds for the payment of interest and principal of the 2017 Mayora Indah sustainable bonds I came from the company's internal cash. The total principal to be paid is IDR 500 billion, with an interest rate of 9.25 percent.

Apart from the readiness to pay the bonds, Yuni said, no other important decisions or matters will be made regarding the preparation of funds for the payment of these obligations.

Citing the company's website, the consumer company owned by the conglomerate Jogi Hendra Atmadja has other bonds that will mature this year. The bonds are continuous bonds I phase II in 2017 with an interest rate of 8.25 percent.

The second phase of the bond will mature on December 21. The value of phase II bonds is IDR 550 billion.

As additional information, until last September 2021, Mayora had cash and cash equivalents worth Rp. 3.35 trillion. In this period, snack manufacturers managed to record an increase in sales of 13.12 percent on an annual basis or yoy.

Launching Mayora's financial report as of September 2021, quoted on Tuesday 9 November, Mayora Indah's sales were recorded at Rp19.88 trillion. This number increased from Rp. 17.58 trillion which was printed in the same period last year.

The net sales of the Beng Beng, Astor, Choki Choki, and Torabika producers in the third quarter of this year were still supported by the local market which reached Rp 11.76 trillion. This figure grew 12.45 percent yoy from the previous Rp10.46 trillion until the third quarter of 2020.

This was followed by sales from the export market which also grew by 14.04 yoy, from previously Rp.7.13 trillion in the third quarter of 2020, rising to Rp. 8.13 trillion at the end of September 2021. Mayora was also observed to have recorded returns of Rp.13.09 billion in third quarter of this year.