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Bad Debts

If Collateral is Insufficient…

Tuesday, March 6, 2001

The Sinar Mas Group has surrendered 42 of its subsidiaries to IBRA as collateral. If these assets are not enough to cover its affiliated loans of US$1.249 billion at BII, what about a personal guarantee?

arsip tempo : 173165920546.

. tempo : 173165920546.

SINCE it was learned that the Sinar Mas Group failed to repay its debts to Bank International Indonesia (BII), the government has again been confronted by two difficult choices. This problem has arisen not only because the government is the majority shareholder in BII, but also because the group's failure to repay its debts may widely affect the bank re-capitalization program, which the Indonesian Bank Restructuring Agency (IBRA) is now implementi

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