Adhi Persada (APP) Prepares Business Strategy After Debt Restructuring

March 01, 2024, 01.10 AM | Reporter: Dimas Andi, Muhammad Musa

ILUSTRASI. Construction Worker Certification: Workers on a construction project in Bogor, Monday (3/10). The government continues to encourage workers in the construction sector to have certification. This is to improve the quality of work in the field. KONTAN/Baihaki/3/10/2022

CORPORATE STRATEGIC - JAKARTA. PT Adhi Persada Properti (APP) is preparing to improve its business performance again after escaping from the Postponement of Debt Payment Obligation (PKPU) trap.

This certainty emerged after APP successfully reached the homologation process through a peace agreement with all creditors based on the decision of the hearing at the Central Jakarta District Court on February 26, 2024.

The President Director of Adhi Persada Properti, Harry Wibowo, stated, this is a special moment and also a positive driver for APP to grow again as a leading company in the future.

'This is the beginning of recovery for APP to become a positive and strong performing company," he explained in a press release received by Kontan, Thursday (29/2).

As known, the voting process of APP's PKPU has been conducted on February 7, 2024 at the Commercial Court at the Central Jakarta District Court.

Based on the voting results, as many as 99.36% of concurrent creditors and 87.14% of separate creditors have supported and voted in favor in the APP peace plan voting.

There were 759 creditors out of 790 creditors who gave approval votes for the peace proposal of the PKPU subsidiary of PT Adhi Karya (Persero) Tbk.

The APP Management expressed gratitude and appreciation for the positive support from all creditors, so that this company could pass the PKPU process and all stages could run smoothly and in accordance with applicable regulations.

This is clearly a new spirit for APP to always grow with a strong financial foundation.

For the future, APP Management will continue to implement various business strategies to improve the company's sustainability.

Among them is the development of APP assets that have not been maximized, especially to develop landed houses, as well as business development and new revenue streams so that the company's performance becomes better and grows positively in the future.

“We are ready to give our best and comply with commitments to creditors, and ready to contribute more to the property industry in Indonesia," concluded Harry.