TEMPO.CO, Jakarta - State-Owned Enterprises Minister Erick Thohir was grateful that the majority of creditors have agreed to accept the settlement proposal made by PT Garuda Indonesia as homologation requirements in the Debt Settlement Postponement (PKPU) Process.

"Today us an important moment for us, because one of the state-owned enterprises that has become the nation's pride, Garuda Indonesia, has completed the voting process for the PKPU," Erick said in Jakarta on Friday, June 17, 2022.

Erick said that the process has become the deciding factor in the settlement agreement (homologation) between Garuda Indonesia and its creditors. Erick was grateful that the voting process received a positive response from the majority of the creditors participating in the voting.

"The positive projection we received today cannot be separated from the hard work of all management, employees, and the team of consultants that have been communicating intensely with the creditors for more than seven months. We also would like to say thank you to the creditors who have supported Garuda up to this point," Erick said.

Erick hoped that such support will continue to be provided up to the stages where Garuda begins to take strategic steps designed in the company's future business plan.

"We did not forget to extend our appreciation to the Indonesian people who continue to trust Garuda Indonesia, especially during these challenging times to provide the best flight," Erick said.

Meanwhile, Garuda Indonesia President Director Irfan Setiaputra, expressed his gratitude to the creditors who continue to put their faith in Garuda Indonesia by agreeing to the settlement agreement.

"This shows high confidence from creditors against Garuda's big plans. The settlement proposal is certainly made us proud, but this will be our responsibility to fulfill our promises," Irfan said at Garuda Indonesia Head office on Friday, June 17, 2022.

Irfan said that the result of the vote recapitulation is a requirement for the homologation process that will be decided on June 20 for the neext 30 days. Irfan also urged creditors who had not taken part in the PKPU process to participate and to execute the agreement in the PKPU.

"The business plan we presented has made the creditors believe and said 'yes' to the profitability-based business plan," Irfan explained.

Result of the vote recapitulation of PT Garuda Indonesia PKPU concluded that 347 concurrent creditors, which compose 95.07 percent of the number of present creditors with 12,162,455 total vote, voted yes.

"The result represents 97.46 percent of the total number of concurrent creditors present in today's meeting," said Jandri, a member of PT Garuda Indonesia PKPU administrator team on Friday, June 17, 2022.

Meanwhile, the number of concurrent creditors who refused the settlement plan was 15 creditors, which equals 4.11 percent of the total number of concurrent creditors present in the meeting with a total number of 305,528 votes representing 2.424 percent of the total number of votes.

In addition, three, or equal to 0.82 percent of creditors abstained from the vote with a total number of 14,449 votes representing 0.116 percent of the total number of concurrent creditor votes present in the meeting.

EKA YUDHA SAPUTRA

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