Jakarta, hitclubapk3 Indonesia
—
Indonesian Management Agency Daya Anagata Nusantara (BPI
Danantara
) decided to save PT
Krakatoa Steel
(Persero) Tbk whose financial performance has been battered for years.
Managing Director of Stakeholder Management and Communications Danantara Indonesia, Rohan Hafas, said that his party had no reason to save the issuer with the code KRAS.
According to Rohan, Danantara sees great potential for KRAS in the steel industry because it has complete production from upstream to downstream.
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“He had everything from production, water processing, his own generator, port. But to cover his living he was cut up and started selling water processing and so on,” said Rohan as quoted
CNBC Indonesia
on Tuesday (25/11).
The huge potential of KRAS can also be seen from the ports owned by the company.
“The port (owned by KRAS) is the deepest port, large ships can dock,” said Rohan.
Seeing this, Danantara is trying to help with comprehensive improvement efforts, which will not only improve operational performance but also the company’s profitability.
One of Danantara’s supports is a plan to provide a loan worth IDR 8.28 trillion for KRAS working capital which was announced some time ago.
In the short term, this will be met in the form of a Shareholder Loan (PPS) worth US$ 250 million.
Then, Krakatau Steel will propose an additional US$ 500 million in other forms to complete or save the company’s restructuring after obtaining an agreement with the banking sector.
These funds will be used for main operational needs, including purchasing raw materials in the form of steel slabs for the HSM factory and derivative steel products.
Separately, Krakatau Steel’s Managing Director, Muhamad Akbar Djoha Krakatau Steel, is optimistic that the company will be able to recover under Danantara’s management.
“We have also joined the Danantara extended family as managers of approximately 1 trillion US dollars, so we are very confident that Krakatau Steel will rise, Krakatau Steel will return to being the host in our own country,” said Akbar in
Public Expose
Krakatau Steel in Jakarta, as quoted
Between.
The company itself is pushing to accelerate operational and debt restructuring, in which business costs have been reduced by 12 percent
year on year
(yoy) to US$74.72 million as of the third quarter of 2025.
Along with this, the company’s debt obligations decreased to around US$1.1 billion after receiving value adjustments
hair cut
on its assets, with an annual financial charge of US$50 million.
Apart from that, Akbar ensured that the company would continue to encourage collaboration with global steel industry players, such as Nippon Steel and Posco, where this strategic partnership was welcomed positively by investors in the Indonesian capital market.
This can be seen from the strengthening trend in KRAS shares, where as of the close of trading last Tuesday, they had risen 298.02 percent since the beginning of the year (ytd) to position 402.
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