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Article: INDONESIA'S BAKRIE TELECOM HEDGES DEBT TO CREDIT SUISSE.
- Article from:
- AsiaPulse News
- Article date:
- May 13, 2009
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JAKARTA, May 13 Asia pulse - Esia cellphone provider PT Bakrie Telecom Tbk (JSX:BTEL) hedged US$145 million of its debt to Credit Suisse to minimize possible exchange rate losses.
Its finance director, Jastiro Abi, said here on Tuesday if no loss was made that would be better and the company might possibly buy dollars when the currency was cheap or repay its debt right away.
He said in the first quarter of 2009 the company`s profit dropped from Rp27.4 billion (US$2.65 million) to Rp5.7 billion while its exchange rate loss reached Rp14.2 billion.
In the same period the company booked an income of Rp658.2 billion which was an increase of 49.5 per ...