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BANKING
Hostage to Price Falls

Tuesday, November 25, 2008

Five well-known banks are dragged into the non-performing loans of a coffee seed exporter.

arsip tempo : 178038987636.

. tempo : 178038987636.

KICKED while down. The term reflects PT Tripanca Group. Due to low coffee prices in the world, the largest robusta coffee exporter from Lampung is finding it difficult to settle its debts of Rp1.7 trillion to five banks. Worse, there are coffee seeds from suppliers that haven’t been paid worth Rp450 billion.

All the coffee seeds, and the company’s land and building, were used as collateral when Tripanca borrowed from the banks. The five are

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