Bakrie financing secured<\/p>\n
JAKARTA (JP): Bakrie & Brothers says the one-month delay in
\nthe processing of letters of credit for imports by its
\ntelecommunications subsidiary, PT Radio Telephone Indonesia
\n(Ratelindo), was only technical in nature and by no means related
\nto financing resources.<\/p>\n
\"Neither does the delay affect the completion schedule of
\nRatelindo's cellular digital radio telephone project,\" Bakrie's
\nChief Executive Officer Tanri Abeng said yesterday.<\/p>\n
He was responding to points published in The Jakarta Post's
\nfront-page story entitled Fixed-cellular phone project postponed.<\/p>\n
Tanri added that the US$50 million loan syndication by
\ndomestic banks for the project was oversubscribed so that the
\noffers from several foreign banks to participate in the
\nsyndication had to be turned down.<\/p>\n
\"Moreover, Bakrie & Brothers, as the holding company, has $75
\nmillion in cash reserves which it could have draw upon
\nimmediately had the loan syndication been under-subscribed,\"
\nTanri said. (icn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bakrie-financing-secured-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}