Sinar Mas' Collateral in Focus
Tuesday, March 13, 2001
An appraisal of the Sinar Mas Group's collateral shows it is worth double the value of its debts to the government.
arsip tempo : 178037976178.
A little relief for the government, perhaps. Eka Tjipa Widyaya's Sinar Mas Group, required to hand over collateral worth 145 percent of its debts to the government, is ready to do so. If its claim is right, the additional firms it will surrender are double the value of the debts.
The government's involvement in the group's affairs began when Sinar Mas failed to repay its debt of US$1.249 billion (Rp12.49 trillion, assuming Rp10,000 to the dollar)
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