Press Release - Jakarta, July 11, 2017
MNC Group: MNC Group's Business Still Continues
According to the news about MNC Group on media, then we hereby deliver a number of points to straighten out the information:
- The information on the amount of MNC Group debt is written incorrectly, because the details of the debt of MNC Group consolidated until the first quarter of 2017 excluding the financial services unit (MNC Bank, MNC Finance, MNC Leasing, MNC Life, MNC Insurance, MNC Sekuritas and MNC Asset Management) of Rp. 12.9 trillion, of which Rp. 5.1 trillion will mature in 1 year. When compared to total equity of Rp. 24 trillion, then the debt to equity ratio is 0.52x. MNC Group has cash and cash equivalents of around Rp. 4 trillion, not including the large marketable securities, because there are many companies in MNC Group which go public.
- Related to the suspect status of MNC Group Chairman Mr. Hary Tanoesoedibjo, a pre-trial lawsuit has been made. The first trial was started on Monday (10/7/2017), and the verdict is expected to be read out next week.
- Termination of Employment Relationship that occurred in Koran Sindo, is an excess change of local-based national newspaper strategy into national newspaper. Option that has been done related to employees is to maintain some employees because the production of content and business in the region is still running. Second, moving some employees to Jakarta as a consequence of strengthening the national team. Third, move other employees in the area to business units under the MNC Group. In addition, another thing that management does is, maintaining local editions that operate with the franchise system.
To that end, we affirm that all business units under the auspices of MNC Group continue to run and even grow positively, because it is managed professionally by a separate management. Thus, the performance growth of the MNC Group companies is assuredly maintained.
In addition, as a law-abiding public company, MNC Group ensures that we comply with all applicable laws and regulations.
It is thus conveyed, for this information to be published as part of a public right as set forth in the prevailing journalistic norms.
And if a result of a third party's report causing material loss, we will use our right to pursue the applicable law.
Jakarta, 11 July 2017