PT Panca Mitra Multiperdana Tbk (PMMP), a frozen shrimp processing company partially owned by Kaesang Pangarep, is currently under severe financial pressure. According to information disclosure data on the Indonesia Stock Exchange as of July 2026, the issuer recorded a jumbo debt load reaching IDR 2.8 trillion.
The increasingly tight financial situation has forced the company to submit a request for debt restructuring of several loan facilities to banking creditors. Currently, PMMP has obligations to various financial institutions, including Bank Permata amounting to IDR 929.6 billion, PT Bank Central Asia Tbk at IDR 705 billion, and the Indonesia Eximbank (LPEI) at IDR 537.4 billion.
In addition, the company's list of liabilities includes debts to PT Bank SMBC Indonesia Tbk worth IDR 400 billion, PT Bank Maspion Indonesia Tbk at IDR 126.1 billion, and PT Bank Resona Perdania at IDR 104.8 billion. The magnitude of this accumulated debt has raised concerns among capital market observers regarding the future operational sustainability of the company.
The Executive Director of the Center for Budget Analysis (CBA), Uchok Sky Khadafi, highlighted that this large debt burden has a high potential to become non-performing loans. He assessed that the managerial challenges faced by the company were also influenced by the limited focus of management in running the business amidst dense political activities.
As of now, PMMP is still awaiting a response from banking creditors regarding the restructuring request. This effort is a crucial step for the issuer to maintain cash flow stability and avoid deeper default risks in the coming period.
