Backflips to Cover Arrears - Cover Story - magz.tempo.co

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Backflips to Cover Arrears

Tuesday, September 13, 2016

A syndicated loan led by BNI will give Rp2.3 trillion to the Bakrie Group. At one point, the proposal was turned down by a BNI credit analysis team.

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CAPITAL market players used to joke about the Bakrie Group being an enigmatic business entity, fond of playing guessing games. No more. Today, each corporate action taken by the Bakrie Group is predictable, never far from speculation of how it will repay their massive debts.

Take the stock divestment plan of Intermedia Capital, a Bakrie subsidiary. As explained during a general shareholders meeting of Visi Media Asia (VIVA) two weeks ago, Bakrie

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