JAKARTA — Garuda Indonesia won overwhelming approval from creditors on Friday for its make-or-break restructuring proposal that staved off bankruptcy for the country’s oldest airline. The state-owned carrier got the more than two-third’s approval required for the plan, which the company announced last week and revised this week under a drawn-out court process that began....
JAKARTA – PT Bank KB Bukopin Tbk (BBKP) sold off non-performing loan (NPL) and risky credit (Loan at Risk/LAR) worth IDR 4.13 trillion for IDR 2.65 trillion to IDMN United Pte Ltd (IUL), Singapore. This transaction is 31.31% of the company’s equity dated December 2021. Helmi Fahrudin, Director of Bank KB Bukopin, claimed that said....
JAKARTA – PT Garuda Indonesia (Persero) Tbk has completed the voting stage in the process of Postponing Debt Payment Obligations (PKPU) on Friday (17/6/2022). As many as 97.46 percent of creditors agreed with the peace proposal offered by the management of the state-owned airline. Member of Commission VI DPR Andre Rosiade appreciated the voting results, so....
Jakarta, CNBC Indonesia – PT Krakatau Steel (Persero) Tbk has debt maturing in September reaching US$ 524 million or around US$ 7.81 trillion (Rp 14,918/US$). The company will take several steps to pay off the debt. Krakatau Steel’s Finance Director Tardi said the maturing debt would be paid through company funds, as well as corporate actions that....
JAKARTA – After the approval of the peace plan by the Panel of Judges of the Central Jakarta District Court, yesterday (27/06), PT Garuda Indonesia (Persero) Tbk (GIAA) projected a faster performance recovery that is aligned with measures to maximize the Company’s profitability. The approval was in accordance with the majority support from creditors based....
JAKARTA. PT Astra International Tbk (ASII) will be back on the banking industry following the acquisition of 49.56% of PT Bank Jasa Jakarta (BJJ) by it’s subsidiary, PT Sedaya Multi Investama (SMI). ASII and BJJ reportedly signed Shares Subscription Agreement (SSA) earlier this month, according to Gita Tiffani Boer, Corporate Secretary of ASII. “SMI will....
JAKARTA. PT Chandra Asri Petrochemical Tbk (TPIA) has obtained a loan facility of USD 100 million from PT Bank OCBC NISP Tbk (OCBC) to drive the progress of the petrochemical industry. Said facility has a tenor of ten years, as stated in the information disclosure in Indonesia Stock Exchange (IDX). Martin Widjaja, Director of NISP,....
KONTAN.CO.ID – JAKARTA . Throughout the first semester of 2022, the number of cases of Postponement of Debt Payment Obligations (PKPU) decreased compared to 2021. Citing data from the case tracking information system (SIPP) from 5 commercial courts (PN), namely the Central Jakarta District Court, Medan District Court, Semarang District Court, Surabaya District Court and Makassar District....
JAKARTA – The creditors of PT Garuda Indonesia (Persero) Tbk (GIAA) reportedly petition an appeal over the legal verdict homologated by the Commercial Court of Central Jakarta District Court regarding the case between GIAA and its creditors. This petition for appeal was successfully filed by the creditors within 14 days after the court decision was....
Jakarta, CNBC Indonesia – Japanese financial group Mitsubishi UFJ Financial Group Inc. (MUFG), is reportedly considering an offer to buy Panin Bank shares. In fact, MUFG is said to be working with financial advisors to explore an agreement related to the acquisition of Bank Panin shares. In response to this, Panin Bank President Director Herwidayatmo revealed that this....