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Sinar Mas

Waiting for a Personal Guarantee

Tuesday, May 8, 2001

Despite the fact that the deadline set by the DPR has passed, Eka Tjipta Widjaya still has not guaranteed the US$1.3 billion debt that Sinar Mas incurred at Bank Internasional Indonesia. Why?

arsip tempo : 173511072438.

. tempo : 173511072438.
April 30, the date the House set as the deadline for the Indonesian Bank Restructuring Agency (IBRA) to obtain a personal guarantee from Eka Tjipta Widjaya, the Sinar Mas Group boss has passed without the stipulated agreement. This guarantee is to be added to the collateral against the US$1.3 billion (Rp14.3 trillion at Rp11,000 to the dollar) debt which Sinar Mas has incurred at the Bank Internasional Indonesia (BII). By the end of last week IBR...

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