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INDONESIA'S FSPC APPROVES RESTRUCTURING OF $93.07 MLN IN DEBT.
JAKARTA, May 1 Asia Pulse - Indonesia's Financial Sector Policy Committee (FSPC) has approved the restructuring of US$93.07 million worth of debt owed by PT Sumatera Timber Utama Damai and PT Pasific Granitama thorugh the Jakarta Initiative Task Force (JITF).
FSPC secretary Syafruddin Temenggung said Monday the approval on debt restructuring was made in a meeting chaired by Coordinating Minister of Economy Rizal Ramli over the weekend after FSPC got inputs from JITF.
JITF is a government sponsored agency with a mandate to help expedite the corporate debt restructuring process.
Sumatera Timber Utama Damai is the world's largest container flooring producer with a 40 per cent supply to the world market. The company, which also ...
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Source: HighBeam Research, INDONESIA'S FSPC APPROVES RESTRUCTURING OF $93.07 MLN IN DEBT.