PT Martina Berto Tbk (MBTO) plans to divest assets worth Rp180 billion to PT Kosmetika Global Indonesia (KGI) to cover debt and improve financial performance.

Based on the information disclosure of the Indonesia Stock Exchange (IDX) on Wednesday (4/8), the divested assets are in the form of land covering an area of ​​94,352 m2, buildings covering an area of ​​4,839 m2, machinery, building equipment, laboratory equipment, and office equipment located in Sukaresmi Village, Cikarang District. South and District of Lemah Abang, Bekasi Regency, West Java Province.

Director of Martina Berto Tbk Iwan Herwanto said the company plans to divest the asset because of the company's inability to fulfill orders which triggered the declining sales, thus disrupted cash flow.

"To fulfill orders, the company needs additional liquidity, especially to pay debts to suppliers that are due and the company cannot make additional bank loans. Currently, the bank&