Danareksa gets award

Danareksa gets award

JAKARTA (JP): State-owned investment company PT Danareksa has
won the Restructuring Deal of the Year Award from International
Financing Review (IFR) Asia magazine.

Danareksa was the first Indonesian firm to completely
restructure its debts, according to the magazine.

"The company who completed a restructuring process in 9
months, has set a good precedent and proved that restructuring in
Indonesia can be achieved," IFR Asia said in a statement.

It also praised Danareksa for being transparent, fair and
flexible in dealing with its creditors.

Danareksa can serve as a model for debt restructuring in Asia,
considering its smart restructuring approach and innovative plan,
the magazine said.

It did not elaborate on the type of approach and plan.

Danareksa operates in securities underwriting, brokerage and
fund management services. (02)