This is MIND ID’s strategy to keep the debt ratio healthy he debt ratio healthy

The Indonesian mining holding, MIND ID ensures that the company’s liability level is still in line with expectations.

MIND IDCorporate SecretaryRatih Amri revealed that the level of liability was still in line with expectations at the Debt/EBITDA level of 5.6x in 2020.

“Where the company is still in a phase of rapid growth and continues to invest, one of which is in the development of the underground mine of PT Freeport Indonesia (PTFI),” said Ratih to, Thursday (10/6).

Ratih continued, the debt level and Debt/EBITDA ratio are expected to improve in line with the company’s growth, especially when PTFI’s operational transition to underground mining is completed according to the target in 2023.

Ratih continued, MIND ID is also actively monitoring future funding strategies.

“The company actively monitors funding strategies and market conditions, and has alternative funding, both from bank loans and capital market funding,” added Ratih.

Referring to the company’s financial statements, as of 2020 MIND ID’s liabilities were Rp 108 trillion, or an increase of 16.27%year on year(yoy) where in 2019 MIND ID’s liabilities were Rp 93.05 trillion.

This amount consists of short-term liabilities of Rp 26.58 trillion and long-term liabilities of Rp 81.60 trillion.

Meanwhile, of the total short-term liabilities, bonds payable were the largest contributor, reaching Rp 9.09 trillion and short-term bank loans at Rp 4.87 trillion.

Meanwhile, the largest contribution to total long-term liabilities came from bonds which reached Rp 69.12 trillion and bank loans of 6.03 trillion.Meanwhile, total assets as of 2020 reached Rp 180.77 trillion, an increase of 9.66% yoy.In 2019, MIND ID’s total assets amounted to Rp. 164.84 trillion.