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Company News
Sekar Laut Will Reorganise
Bisnis Indonesia, page B2 (30-June-2006)
PT Sekar Laut Tbk will immediately schedule an Extraordinary Meeting of Shareholders to request permission to reorganise to improve the quality of its financial balance sheet. In 2005, Sekar Laut’s net sale increased to Rp.167.3 billion compared to the previous year’s Rp.137.8 billion.
Arrearage of Sekar’s Obligations Has Been Set
Bisnis Indonesia, page B2 (24-August-2005)
The court has decided upon the arrearage of PT Sekar Laut Utama’s temporary debt payment obligation of Rp.431.96 billion. The rest of Sekar’s debts will be converted to stocks for a stock conversion value of Rp.500 per share. The loan can still be paid with a cash flow of US$ 2.8 million that will converted as long-term loan. In its financial report, the company included two additional creditors. Those creditors are BNP-Sindikasi Bank and PT Bank Negara Indonesia Tbk (BNI). The total primary debt of BNP-Sindikasi Bank is Rp.264.808 billion with an interest of Rp.114.820 billion. Therefore, the total loan is Rp.379.627 billion with a total interest of 87.89 percent. BNI’s primary debt is Rp.27.380 billion with an interest of Rp.24.956 billion. Therefore, BNI’s total debt is Rp.52.337 billion. In total, Sekar’s primary debt is Rp.292.188 billion with a total interest of Rp.139.776 billion.
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