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View all search resultsDanantara rules out bankruptcy at Pos Indonesia amid defaults
The state asset fund said it wanted to restructure Pos Indonesia’s finances and leverage its 4,000 distribution channels across the country instead.
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Students visit the office of postal company PT Pos Indonesia during a study tour in Medan, North Sumatra, on Aug. 13, 2018. (Antara/Septianda Perdana)
S
tate asset fund Danantara claimed that it will not seek bankruptcy to resolve defaults at state-owned postal company PT Pos Indonesia, the fund’s chief operating officer (COO) Dony Oskaria said.
Dony stated Pos Indonesia would be transformed into a logistics holding company.
“Other [state-owned logistics companies] will join PT Pos Indonesia,” he said on Monday, as quoted by Bisnis.
Dony also noted that Pos Indonesia's financial position would be restructured and that the company was poised to play a strategic role in logistics business.
“It has 4,000 distribution channels, which we plan to leverage to build our logistics company,” he added.
Read also: Pos Indonesia’s default tests Danantara rescue strategy
Bankruptcy concerns emerge as Pos Indonesia struggles with mounting financial issues and bond repayment defaults.
