{
    "success": true,
    "data": {
        "id": 1523781,
        "msgid": "pal-needs-more-capital-1447893297",
        "date": "1997-02-01 00:00:00",
        "title": "PAL needs more capital",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "PAL needs more capital JAKARTA (JP): State-owned shipbuilder PT PAL has asked the government to convert its long-term loan of Rp 790 billion (US$334.7 million) to the company into equity, according to an executive of the Management Board for Strategic Industries. Giri Suseno told a hearing of Commission X for development planning on Wednesday that PAL needed additional capital to grow. PAL's assets were worth Rp 1.6 trillion (US$677 million) on Dec.",
        "content": "<p>PAL needs more capital<\/p>\n<p>JAKARTA (JP): State-owned shipbuilder PT PAL has asked the<br>\ngovernment to convert its long-term loan of Rp 790 billion<br>\n(US$334.7 million) to the company into equity, according to an<br>\nexecutive of the Management Board for Strategic Industries.<\/p>\n<p>Giri Suseno told a hearing of Commission X for development<br>\nplanning on Wednesday that PAL needed additional capital to grow.<\/p>\n<p>PAL's assets were worth Rp 1.6 trillion (US$677 million) on<br>\nDec. 31, 1995, while its liabilities were Rp 1.4 trillion.<\/p>\n<p>PAL vice president Suleman Wiriadijaya admitted that his<br>\ncompany's financial structure was poor with its long-term loans<br>\naccounting for more than 50 percent of its total debt.<\/p>\n<p>\"Our assets have reached Rp 1.7 trillion and our capital is Rp<br>\n8 billion. We keep borrowing money and our interest payments are<br>\nas high as Rp 30 billion annually. Basically, we work for the<br>\nbank,\" Wiriadijaya said.<\/p>\n<p>In 1995, PAL made Rp 190 billion in revenue and suffered a<br>\nloss of Rp 18.9 billion. (10)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/pal-needs-more-capital-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}