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Fitch Downgrades Alam Sutera to ‘CCC-‘ on Heightened Refinancing Risks

JAKARTA (TheInsiderStories) - Fitch Ratings has downgraded property developer, PT Alam Sutera Realty Tbk' (IDX: ASRI) Long-Term Issuer Default Rating (IDR) to CCC- from B-. At...

Indonesia’s Waskita Beton Fails to Pay Bond Interest

JAKARTA (TheInsiderStories) - PT Waskita Beton Precast Tbk (IDX: WSBP), a subsidiary of the state-owned construction company, PT Waskita Karya Tbk (IDX: WSKT), postponed...

Indonesia’s AP II Releases Local Bond to Pay Debt

JAKARTA (TheInsiderStories) - The operator of 19 airports in Indonesia, PT Angkasa Pura II or AP II, issued bonds worth Rp2.25 trillion (US$155.17 million)...

Indonesia’s Alam Sutera Seeks Fresh Fund US$485M to Pay Debt

JAKARTA (TheInsidersStories) - PT Alam Sutera Realty Tbk (IDX: ASRI) plans to release senior bonds with worth US$485 million, said the developer company today...

Indonesia’s PTPP Halts Some Important Projects due to the Pandemic

JAKARTA (TheInsiderStories) - The state run developer, PT PP Tbk (IDX: PTPP), intends to stop a number of projects due to the COVID-19 pandemic...

The Government to Absorbs Garuda Indonesia’s MCB US$594M

JAKARTA (TheInsiderStories) - The government is proposing to absorb the mandatory convertible bond (MCB) of state-owned airlines firm, PT Garuda Indonesia Tbk (IDX: GIAA)...

Garuda Indonesia Aborts Airbus Deliveries Amid the Slow Traficts

JAKARTA (TheInsiderStories) - The national flag carrier, PT Garuda Indonesia Tbk (IDX: GIAA) is in talks with Airbus SE (AIR.PA) to delay the deliveries of four...

Tiphone Mobile Indonesia Fails to Pay Debt, Possible to Bankrupt

JAKARTA (TheInsiderStories) - Cellphone and voucher retailer company, PT Tiphone Mobile Indonesia Tbk (IDX: TELE) and four of its subsidiaries, PT Telesindo Shop, PT...

Indonesia’s Delta Dunia Releases Global Bond US$750M

JAKARTA (TheInsiderStories) - Mining services contractor, PT Delta Dunia Makmur Tbk (IDX: DOID), through its subsidiary PT Bukit Makmur Mandiri Utara (BMMU), will issue...

Indonesia’s Modernlan Shares Suspended, Ratings Decreased

JAKARTA (TheInsiderStories) - Shares of the developer company, PT Modernland Realty Tbk (IDX: MDLN) have been suspended by Indonesia Stock Exchange, said the bourse...

Indonesia’s Express: Mounting Debt, Threatened Bankrupt

JAKARTA (TheInsiderStories) - Taxi operator, PT Express Transindo Utama Tbk (IDX: TAXI) reports the company' latest condition amid the COVID-19 pandemic and the debt...

Indonesia’s Waskita to Divest Three Toll Roads to Pay Debt

JAKARTA (TheInsiderStories) - Publicly listed firm, PT Waskita Karya Tbk (IDX: WSKT) planned to divest its statke in the three toll road units to...

More Selective Government Support Reduces Credit Quality of Indonesia’s SOEs

JAKARTA (TheInsiderStories) - Support for Indonesia' state-owned enterprises (SOEs) from the Indonesian government (Baa2 stable) is likely to become more selective due to coronavirus disruptions, weighing...

Indonesia’s Jasa Marga Eyes US$143M Funds to Pay Debts

JAKARTA (TheInsiderStories) - Toll road managers, PT Jasa Marga Tbk (IDX: JSMR) eyeing up to Rp2 trillion (US$142.86 million) from bond market to pay the company'...

Indonesia’s Bumi Resources Minerals Revises Private Placement Price

JAKARTA (TheInsiderStories) - Indonesia miner, PT Bumi Resources Minerals Tbk (IDX: BRMS) revised the private placement' price from Rp50 a share to Rp85 per unit, said...

Indonesia’ Bumi Resources Minerals Pay Debt through Private Placement

JAKARTA (TheInsiderStories) - Gold miner, PT Bumi Resources Minerals Tbk (IDX: BRMS) plans to run a debt to stock conversion to its creditor, said the company...

Garuda Explores Various Options to Overcome the Debts

JAKARTA (TheInsiderStories) - Flight carrier, PT Garuda Indonesia Tbk (IDX: GIAA) explores various options to overcome the company debts amid the COVID-19 outbreak. In response to the...

Indonesian Property Developers Face Twin Pressures

JAKARTA (TheInsiderStories) - The sharp deprecation in the Indonesian Rupiah against the US Dollar will weaken the debt servicing ability of property developers, a credit negative,...

Indonesia’s BUMI Pays More Debt, Next Payment July

JAKARTA (TheInsiderStories) - Indonesian coal miner, PT Bumi Resources Tbk (IDX: BUMI) announced has paid the ninth installment worth of US$7.51 million, said the company...

IMF Declares Argentina Public Debt “Unsustainable”

JAKARTA (TheInsiderStories) - International Monetary Fund (IMF) called that Argentina’ public debt was sustainable, but not with high probability, given substantial downside risks. The assessment...

Indonesia’s Duniatex Fails to Pay Bond Interest

JAKARTA (TheInsiderStories) - Duniatex Group, Semarang-based textile company,  asked Singapore bourse to temporarily suspend its US$300 million bond trade, said the management yesterday (09/12). The...

APAC Face the Greatest Risk from Implicit SOEs Liabilities

Singapore (TheInsiderStories) - Moody's Investors Service says that state-owned enterprises (SOEs) play a pivotal role in furthering public policy objectives across Asia Pacific (APAC). Its...

Indonesia’s Tiphone Offers Local Bond US$35.21M

Jakarta (TheInsiderStories) - Publicly listed retail and distribution of telecommunications equipment products, PT Tiphone Mobile Indonesia Tbk (IDX: TELE) offered local bonds worth of...

Indonesia’s Krakatau Steel to Restructure Loans with Three Schemes

Jakarta (TheInsiderStories) - Indonesian steel maker, PT Krakatau Steel Tbk (IDX: KRAS) will use three schemes to restructure the company' loans with total amount...

Indonesia’s Pertamina Offers GMTN US$1.5B in This Month

Singapore (TheInsiderStories) - After raised US$750 million from global medium terms note (GMTN) in 2018, state-owned energy firm PT Pertamina planned to sell $1.5 billion...

Moody’s to Revise Gajah Tunggal’s Outlook to Negative

JAKARTA (TheInsiderStories) – Moody's Investors Service has changed to negative from stable the outlook on the ratings of Gajah Tunggal Tbk (IDX:GJTL). At the...

Indonesia’s Bumi Resources Pays Debt US$52M

JAKARTA (TheInsiderStories) -- Little by little, Indonesian miner PT Bumi Resources Tbk (IDX: BUMI) is installing its huge debts that burden company's financial. Today...

Insight: Indonesia SOEs, Between Debt Winding and Infrastructure Development Project

 JAKARTA (TheInsiderStories) – The contentious rhetoric about the increasing of state-owned enterprises' (SOE) debt has been broadly discussed among observers and economists. Indeed, the...

Tangled in Debt, Indonesia’s Bakrie & Brothers Executes US$647M from MCB,...

JAKARTA (TheInsiderStories) — Indonesian holding company, PT Bakrie & Brothers Tbk (IDX: BNBR) raised Rp9.38 trillion (US$646.89 million) from private placement and mandatory convertible...

Indonesia’s BUMI Pays US$167M Trance A Debt

JAKARTA (TheInsiderStories) - Indonesian miner, PT Bumi Resources Tbk (IDX: BUMI) has paid US$167.48 million Tranche A Principal and Coupon till date, said the company...