VIVA Group Completes PKPU Restructuring, Focuses on Digital Business and Content Development

• 

• English

Senin, 4 November 2024 - 21:12 WIB

Jakarta, VIVA – PT Visi Media Asia Tbk (VIVA) announced that it has successfully completed the debt restructuring process for four companies within the VIVA Group: PT Visi Media Asia Tbk, PT Intermedia Capital Tbk, PT Lativimedia Karya, and PT Cakrawala Andalas Televisi. The total restructured debt amounts to IDR 11.1 trillion.

This strategic step was achieved through a vote on the Peace Plan Proposal submitted by VIVA Group to its creditors during the Debt Payment Suspension (PKPU) hearing at the Jakarta Central Commercial Court on Monday, November 4, 2024.

The Peace Plan Proposal, which included the proposed debt restructuring for the four companies, was approved by all creditors, including both Concurrent Creditors (trade debt) and Separatist Creditors (secured bank debt), as well as foreign financial institution creditors. This agreement reflects strong stakeholder confidence in the business prospects of VIVA Group.

Neil Tobing, Director of PT Visi Media Asia Tbk, expressed his gratitude and thanked the creditors and all stakeholders for their support and patience throughout the PKPU process.

"With the completion of this restructuring, VIVA Group will now focus on future business development efforts in television broadcasting, digital, content, and off-air activities to meet market demands and bring new innovations to our audiences and business partners," Neil stated.

Neil also noted that with the completion of VIVA Group’s debt restructuring, the company's capital structure will be significantly strengthened, enabling support for future strategic business development efforts.

Looking toward a promising future, VIVA Group also called for continued support from all parties involved in this restructuring process, including loyal vendors and other stakeholders, to help achieve the set targets.

To strengthen the company’s capabilities, VIVA plans to recruit experienced new talent in various fields and continue to develop the potential of its current workforce, consisting of over 2,000 employees already part of the VIVA Group.

"We are optimistic that this move will solidify VIVA's position as a leading player in the media industry. We are committed to continuous innovation and adaptation to the increasingly digital market dynamics," Neil said.

With renewed spirit, VIVA Group is ready to advance its vision, focusing on digital transformation and enhancing high-quality content for the people of Indonesia.