The management of PT Rekayasa Industri (Rekind) informed the Company’s success in realizing the Company’s Suspension of Debt Payment Obligation (PKPU) homologation. This success should be grateful for instead of euphoria.
At least, that is the picture recorded at the Town Hall Meeting, which was held at the ROB II Building, Floor I, Rekind Head Office, Monday 5 February 2024.
Rekind’s success at PKPU was marked by the approval of the homologation by the Panel of Judges at the Commercial Court at the Central Jakarta District Court, on January 31 2024. The decision refers to a voting session on the PKPU peace proposal from 229 creditors, both from concurrent and separatist votes.
Through this vote, Rekind succeeded in gaining approval for the peace proposal with concurrent votes of 96.94% of the total creditors (headcount) and 98.99% of the value of the claims (value) which had been recognized and verified by the Management Team. Meanwhile, all separatist votes reached 100% of the vote, both in terms of headcount and value.
This success indicates that Rekind is preparing to start a new chapter in its business journey, through Financial Restructuring and Business Transformation within the framework of the Corporate Restructuring Plan which was signed by BUMN Minister Erick Thohir on January 2 2024.
“Our success at PKPU is one of the doors we entered to then open next door to make Rekind the best company and a source of pride for all of us as well as the nation and state,” emphasized Rekind Director Triyani Utaminingsih, in his speech at the event.
He admitted that PKPU is also a valuable and forging lesson that must be learned quickly. If this matter drags on in court, of course it will also have negative implications for the company.
It is also not easy to convince creditors, including banks, vendors and sub contractors, that PKPU is the best way for both parties. “Thank God we can achieve this hope together, of course based on struggle and enthusiasm so that this company can show its best existence again,” explained Triyani Utaminingsih.
He also expressed a positive appreciation for the efforts and hard work shown by the Rekind Internal Team who were able to work optimally and professionally, so that within 77 calendar days, a peace agreement could be obtained according to mutual expectations.