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Sunday, September 25, 2011

Karwell sell main asset

Irvin Avriano A.

Karwell sell main asset

JAKARTA: PT Karwell Indonesia Tbk, an apparel company, intend to sell their main asset which are production machines, land bank, and buildings.

The matter was exposed in their information disclosure to Indonesia Central Securities Depository (PT Kustodian Sentral Efek Indonesia/KSEI) yesterday, related to their extraordinary general meeting of shareholders (EGM/RUPSLB).

The company which commandeered by single-name-only Susanto intend to sell 655 unit machines which located in Kawasan Berikat Nusantara, Tanjung Priok, Jakarta. The others are a land bank with 183,631 square meter area in Desa Gandasari and Cibuntu, Kecamatan Cibitung, Jawa Barat.

The company, which incorporated in February 18th 1978 with name Karwell Indonesia Knitting & Garment Industry, also plan to sell building and land bank in Desa Setiadarma, Tambun, Bekasi, Jawa Barat. To get the shareholders approval, the company intend to held EGM in November 1st.

Indonesia Stock Exhange (IDX/Bursa Efek Indonesia) website data shows the company's shareholders consist of PT Karya Estetikamulia 53.23% and Frans Seda 0.2%. The company's shares is coded KARW in the stock exchange board.

The company have two subsidiaries, a washing clothes (laundry) company PT Karinwashindo Centralgraha and investment company PT Karya Investama Indonesia. The company recorded asset IDR84.32 bio in June 30th, while the income statement always negative in 2011-2010 1st half, IDR12.19 bio and IDR4.31 bio in net loss, respectively.

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