Chasing after Raja Garuda - Economy - magz.tempo.co

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Chasing after Raja Garuda

Tuesday, April 18, 2006

Global pulp and paper prices have shot up. Both Bank Mandiri and BNI are now putting pressure on Sukanto Tanoto to get him to increase his debt repayments.

. tempo : 173162147763.

WHENEVER global paper and paper pulp prices start to rise, the managements of several Indonesian banks start paying very close attention indeed. This is particularly the case as far as the Raja Garuda Mas (RGM) Group, one of the major pulp and paper producers in the world, is concerned. This is because this group, which is led by Sukanto Tanoto, has a giant pile of debts with a syndication of national banks. The total debts amount to around US$1.

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