Bankruptcy Requests From A Number of Vendors Against PT Imza Are Unfounded

July 22nd, 2022

Translated by: PO

Editor : D. Supriyanto JN

From: Editorial strategisnews.co

Bankruptcy Requests From A Number of Vendors Against PT Imza Are Unfounded

Picture: President Director of PT. IRJ Group Dr. (Cn) Hj. Rizayati SH, MM

Jakarta (ANN) – Director of Magnatech Co. Ltd, MIT Global Co. Ltf, and Juyoung Inc, Miatin Khasanah, expressly said that the bankruptcy request addressed to PT Imza Rizky Jaya, was baseless and fabricated.
Miatin said that PT Imza Rizky Jaya is a partner of a Korean company in Indonesia.
Thus, he said, his party will protect its work partners and will fight back if the request for bankruptcy against PT Imza Risky Jaya is granted.
“We, as representatives of Magnatech Co., Ltd., MIT Global Co., Ltd. and Juyong Inc., have partners in Indonesia, namely PT Imza Rizky Jaya and PT WAB. As a partner, of course, we will take a firm stance, and put up a fight, if the request for bankruptcy against PT Imza Rizky Jaya is granted,” Miatin told to Strateginews.co in Jakarta, Thursday (21/7/2022).

Miatin asserted, as a representative of a Korean company, after seeing the proceeding yesterday’s trial at the Commercial Court at the Central Jakarta District Court (Wednesday 20/7) felt unnatural and unprofessional.
“The trial that took place yesterday was very strange, unnatural and unprofessional because the vendors who submitted only a few of the hundreds of vendors, and they intended to bankrupt PT Imza without the approval or understanding of the remaining hundreds of vendors,” explained Miatin. .
Miatin revealed, from the hundreds of vendors, only 23 vendors advanced. While this contract was taken from Imza there are around 500 vendors.

“This is strange, at Imza there are hundreds of vendors, while yesterday only 23 vendors came forward. While this contract was taken from Imza there are around 500 vendors. Of those 500, some took 500 units up to my limit of 100 thousand units. My contract alone for the first phase is 2.13 trillion and the second stage is 3 trillion, so a total of around 5 trillion until 2024,” he explained.

“For the 2.13 trillion contract, this has been legalized and stamped by the Indonesian Embassies in Korea, as well as the Ministers of Trade of the two countries. So Indonesian contracts only have a stamp duty, while our contract with Korea is via the government and stamped there, all of our contracts, without exception. At this time, there is no need for us to bankrupt PT Imza. What about 23 companies with only that much value having the right to bankrupt PT Imza? If that happens, then my company or partners from Indonesia will involve the government, where those who ratify the contract, we will question their responsibilities. So it is not that easy for them to file for bankruptcy,” he explained.

The bottom line, continued Miatin, was that it was wrong to go to bankruptcy.
“Except for myself on behalf of a partner, because my value exceeds 70 percent of covering the remaining contract, we object because this project is not running, so we file for bankruptcy, it is possible, through the embassy asking for accountability, it is possible. Later the rest of the vendors will come with us, where they agree, right? This I myself feel fine and there is no problem really. Why do 23 companies with only that value want to go bankrupt, this is really ridiculous,” he said.

“After I saw yesterday, the point is this, if the judge decides to go bankrupt, of course we will file an appeal. And whoever company is going to bankrupt this, me and my partners with a value of several trillions are clearly at a loss, and we will fight back,” he concluded.
A similar opinion was also conveyed by the President Director of PT Imza Rizky Jaya, Hj. Rizayati. According to Rizayati, the action to make PT Imza bankrupt is baseless and far-fetched.
“To bankrupt PT Imza, it’s baseless and far-fetched. It is the act of people who do not understand the essence of the problem. Come on, don’t be like that, don’t be rash in making decisions and intend to bankrupt PT Imza,” he said.

Editorial team
Editor : D. Supriyanto JN