BWPT – Sold 5 of its business units

Eagle High Plantation (BWPT) sold 5 of its business units worth of IDR1.88 tn to Nova Anugerah Abadi (non-affiliated with BWPT) in June9. The effort was to reduce BWPT’s bank loan and to strengthen its cash flow. Based on BWPT’s 1Q23 balance sheet; short term loan (Banks and non-banks) in total of IDR1.53 tn and long term bank loan IDR3.89 tn, with its cash and cash equivalent only recorded at IDR40.32 bn. (Source : Bisnis Indonesia)