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'Hi-ho' Sinivasan, Loan Arranger

Tuesday, February 27, 2001

Texmaco has applied to Bank Mandiri for a US$60 million loan. Questions arise over its secrecy—and why it’s in dollars.

arsip tempo : 173511090822.

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There are more twists and turns in the sorry Texmaco debt tale than Chubby Checker’s pants. The latest revelation in the dreary drama of this cozy conglomerate owned by Marimutu Sinivasan is its application to Bank Mandiri for a $60 million loan. This is truly amazing—if not outrageous—when one takes into consideration the fact that Texmaco still owes the Indonesian Bank Restructuring Agency (IBRA) Rp16.5 trillion. The debt sett...

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