Bahana seeks rescheduling deal with IBRA<\/p>\n
Dadan Wijaksana, The Jakarta Post, Jakarta<\/p>\n
PT Bahana Pembinaan Usaha Indonesia, a state-owned investment
\nholding company, hopes to finalize this year the rescheduling of
\nits Rp 3.5 trillion (about US$400 million) in debts to the
\nIndonesian Bank Restructuring Agency (IBRA).<\/p>\n
\"We expect to complete the restructuring of our debts and
\ninvestments as soon as possible ... maybe this year,\" Boyke
\nMukijat, Bahana chief financial officer, said on Thursday.<\/p>\n
He said that since IBRA was the company's main creditor,
\nrestructuring its debts to the agency would prove beneficial to
\nthe company's business operations.<\/p>\n
Ignasius Jonan, Bahana's president director, also stressed the
\nimportance of settling the company's debts with IBRA, especially
\nnow that Bahana is making good progress in restructuring other
\ndebts to non-IBRA creditors.<\/p>\n
Excluding its debts to IBRA, Bahana has repaid some $52
\nmillion plus Rp 101.9 billion in debts to non-IBRA creditors in
\nthe first five months of this year, reducing its total debts to
\n$141.7 million and Rp 61 billion.<\/p>\n
During this same period, the company was able to collect some
\n$50.3 million and Rp 133.9 billion from various debtors.<\/p>\n
\"There are still some $210 million in (loan) assets that we
\ncan collect from our debtors,\" Ignasius said.<\/p>\n
Bahana is a holding company that controls three financial
\nunits: PT Bahana Securities, fund management house PT Bahana TCW
\nManagement and venture capital company PT Bahana Artha Ventura.<\/p>\n
PT Bahana Securities arranged the sale of Rp 2.2 trillion in
\nbonds over the past two years for companies such as Indonesia's
\nlargest cementmaker, PT Semen Gresik, and Indofood Sukses Makmur,
\nthe world's largest maker of instant noodles.<\/p>\n
The company also said that as of the end of April, the company
\nhad booked a net profit of Rp 521.5 billion.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bahana-seeks-rescheduling-deal-with-ibra-1447893297",
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"sponsor": "Okusi Associates",
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