XL Axiata Finance Director Budi Pramantika Resigned
PT XL Axiata Tbk (XL Axiata), officially accepted the resignation of Budi Pramantika as Director & Chief Finance Officer (CFO) or Finance Director of XL Axiata on 6 March 2023.
President Director of XL Axiata, Dian Siswarini said that Budi Pramantika resigned from his position as director for personal reasons, and he had served as finance director since October 2020.
“Pak Budi has made a major contribution to XL Axiata’s ability to maintain financial performance, including during the difficult time of the Covid-19 pandemic, as well as in facing very tight competition in the telecommunications industry, by implementing a number of financial management policies,” said Dian.
During his tenure of nearly 3 years, he has taken various policy steps. For example optimal asset management. This step was taken to address the challenges of the telecommunications industry by optimally managing assets.
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Based on an official statement received on Thursday (09/03/2023), all the assets owned by the company, including cash, fixed assets, investments, sales & lease back until capexall must produce returns optimally.
Next is fundraising to strengthen capital. To finance capexXL Axiata has raised funds apart from bank loans, namely through issuance Bond and Sukuk, as well Right Issue.
Through this policy aimed at strengthening the company’s financial structure in 2022, XL Axiata has managed to raise a total of around IDR 8 trillion. Each of IDR 3 trillion through Bonds and Sukuk in September 2022 at very competitive prices, and around IDR 5 trillion through Right Issue.
Digital transformation in finance. This digitalization needs to be applied on the financial side of the company to further improve financial performance. All processes in finance need to be digital and automated. The financial process in question includes the business case, the sourcing process, to the making of contracts, payments, to bookkeeping.
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Furthermore, the company will submit an application for approval of the resignation at the nearest General Meeting of Shareholders.
“Now, with solid financial fundamentals, XL Axiata is ready to face the industry challenges in 2023. For this reason, XL Axiata’s management is very grateful for its hard work and dedication to the company. We pray for his success,” concluded Dian. [NM/HBS]
