Business and Finance

Bakrie's Debts Reduced by US$ 977 Million

VIVAnews - Total debts owed by PT Bakrie and Brothers Tbk (BNBR) to several creditors are now US$479 million compared to the previous US$1.45 billion. Bakrie and Brothers' debts decrease by around US$977 million.

"We are still negotiating with the creditors," said Director of Bakrie & Brothers Dileep Srivastava on Wednesday, Jan 14.

Sidang Sengketa Pilpres di MK, Bawaslu Sebut Jokowi Bagi-bagi Bansos Tak Langgar Netralitas

According to Srivastava, the company still owes Sarijaya Permana Sekuritas  Rp 20 billion (approx. US$1.8 million), Pt Dinar Securities Rp 30 billion (approx. US$2.7 million), PNM Investment with Rp 231.8 billion (approx. US$20.8 million), PT Recapital Securities with Rp 55 billion (approx. US$4.9 million) and Brentwood Ventures with Rp 157.6 billion (approx. US$14.1 million)

Bakrie & Brothers' Director of Finance Yuanita Rohali said that the company is ready to repay its loans to Sarijaya. However, due to the suspension the Indonesian Stock Exchange authorities imposed against Sarijaya's share trade, the settlement of the repurchase agreement is canceled. "A legal review to examine future measures is being carried out," Rohali said.

Moreover, on 15 January 2009, the company will repay debts to PNM Investment amounting to Rp 28 billion (approx. US$2.5 million). The debts to Dinar which was due in December 2008 is restructured in one year.

Meanwhile, Rohali went on to say, the company cannot add another collateral from Bumi Resources Tbk shares because Bakrie has assured all the shares. In addition, the shares of other subsidiaries have been put into collateral  three times.

Earlier, Bakrie & Brothers Management said that it is now still finalizing the mechanism for debt takeover with several creditors, including with Northstar Pacific Partners Limited.

Director and Corporate Secretary of Bakrie & Brothers RA Sri Dharmayanti said the company expected that the finalization can be completed immediately. "We will give an explanation. It will be done as soon as possible," she told VIVAnews.

Sri Dharmayanti confirmed earlier to the stock exchange authorities that Bakrie & Brothers is still in the process of finalizing an agreement of joint venture establishment with Northstar. However, the management has yet to reveal anything about capital deposit, financing source and other technical issues.

According to her, the company will obey the capital market regulation if the joint venture requires approval from share owners.

Kementerian Perdagangan dan Penegak Hukum Diminta Lebih Tegas Tangani Peredaran Oli Palsu

Translated by: Bonardo Maulana Wahono

Nikita Mirzani

Penampilan Makin Sopan, Nikita Mirzani Ternyata Diawasi Rizky Irmansyah

Hingga kini, Nikita Mirzani masih go public secara perlahan soal hubungannya dengan Rizky Irmansyah.

img_title
VIVA.co.id
29 Maret 2024