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Article: 1. PETROCHEMICAL COMPANIES HAVE RP 10.5 TRILLION IN TOTAL DEBTS WITH IBRA.
- Article from:
- Indonesian Commercial Newsletter
- Article date:
- July 27, 1999
CopyrightCOPYRIGHT 1999 P.T. Data Consult, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The soaring prices of basic materials and the shrinking domestic domestic demand since mid-1997 have posed heavy pressures on the performance of the petrochemical industry. Unsurprisingly, therefore, many companies dealing in the industry have had liquidity problems, given that most of the funds they have invested in their projects had come from bank credit. According to data from the Indonesian Bank Restructuring Agency (IBRA), the petrochemical industry currently has some Rp 10.5 trillion in total debts with the banking sector.
There are a number of likely scenarios for the settlement of a company's bad debt with the domestic banking sector. One of IBRA's ...
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