Sign up | Log in



Home  >>   Daily News  >>   Indonesia News  >>   Companies  >>   Bakrie says it is solvent
NEWS UPDATES Asean Affairs     11 October  2011                    

Bakrie says it is solvent

Related Stories

June 3-4, 2010
Indonesia’s state telecom shifts focus, $1.2 bln tower deal with SingTel

May 29, 2010
Indonesia expects investment from three Dubai firms

May 18, 2010
Nestle considers resuming ties with Indonesia palm oil firm

May 16, 2010
Indonesia keeps ‘plan b’ for Krkatau Steel J-V with Korea’s firm

Bakrie & Brothers, the holding company of the Bakrie Group, has denied speculation that the company is unable to pay its debts and is on the verge of default.

Eddy Soeparno, Bakrie & Brothers’ finance director, said on Monday that the company was not on the verge of or in default and was considering repaying or restructuring its $597 million loan facility arranged by Credit Suisse “in due course.”

“BNBR is not in default and we are evaluating options to settle our debt,” he said.

Eddy refused to comment on whether Bakrie & Brothers was going to sell its ownership in Bumi Plc to Glencore International, the world’s largest publicly traded commodities supplier, as a way to help settle its debt, which is due in March 2012.

Citing an unnamed source close to the matter, Bisnis Indonesia reported on Monday that Glencore was considering purchasing a minority stake in Bumi Plc through the purchase of $2.01 billion in convertible bonds to be issued by Bumi Plc.

That would serve as the payment for the purchase of a 75.1 percent stake in Bumi Resources Minerals, a subsidiary of coal miner Bumi Resources, the newspaper said.

Dileep Srivastava, Bumi Resources’ investor relations director, said all of the reports were just speculation.

“Bumi Plc is a holding company that owns three of the world’s best thermal coal assets in Indonesia. All are presently outperforming operationally. Therefore, what the family does with their holdings is a non-issue,” he said in a statement.

He said the key issue was the declining economies in the Europe and the United States and had nothing to do with the Bakries or Bumi Resources.

“Because of these assets, international investors in Bumi Plc should be able to weather the market storm better than the others,” Dileep said.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    11  October  2011 Subsribe Now !
• Asia’s trade to double Subcribe: Asean Affairs Global Magazine
• China halts Mekong shipping Asean Affairs Premium

• Bakrie says it is solvent

Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Malaysian budget criticized
• Philippines seeks rice quota extension
• Thai floods may dampen GDP
• Thai coconut oil surges

• Thailand, Vietnam pledge food security


Asean Analysis              11  October  2011

Advertise Your Brand
• Myanmar to release prisoners Sponsor Our Events

Asean Stock Watch      11  October  2011

• Asean Stock Watch-October 11 p

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand