Other Publications
Garuda delays IPO as it resolves debt hang
The Jakarta Post , Jakarta | Fri, 06/19/2009 7:02 PM | Business
The office of the state minister of state enterprises said Friday that it would postpone the planned share offering of national flag carrier Garuda Indonesia, slated this year, because it was still saddled with huge debt.“We are facilitating Garuda to solve its debts though debt restructuring,” Said Didu, secretary to the state minister of state enterprises, said on Friday, but he refused to elaborate on the debt restructuring.
Garuda’s total debts as of the end of last December reached US$670 million — $450 million to the European Credit Agency (ECA), $100 million to Bank Mandiri, and the rest to other creditors.
Said said that the Indonesian flag carrier was now focusing its efforts on increasing the number of its aircrafts before selling its shares to the public through initial public offering (IPO) of shares.
He added that Garuda representatives, accompanied by State Minister of State Enterprises Sofyan Djalil, recently signed an aircrafts leasing agreement in France. (naf)
Comments (0) |
Post comment
What's On
- Franchise & Business Concept
11/13/2009 11/15/2009 Jakarta Convention Center - Indonesia Furniture Fair
11/14/2009 11/22/2009 Jakarta Convention Center - Indonesia Maternity & Baby Expo 2009
11/20/2009 11/22/2009 Jakarta Convention Center
- Festival of India
10/29/2009 12/15/2009 Balai Kartini & Umar Ismail Hall, Jakarta
- Best Dutch Books Designs
10/08/2009 11/12/2009 Erasmus Huis, Jl. H.R. Rasuna Said Kav S-3, Kuningan, South Jakarta (Tel. 5241069) - Power of the Shape. Sculpture exhibition by Dolorosa Sinaga
10/29/2009 11/15/2009 Kendra Gallery of Contemporary Art, Bali Until Nov. 15 Jl. Drupadi No.88B, Basangkasa Seminyak, Bali - The Erased Time: Solo exhibition by FX Harsono
11/01/2009 11/14/2009 Galeri Nasional Indonesia, Central Jakarta