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Television

End of Transmission?

Tuesday, October 29, 2002

State-owned satellite company Indosat is going to file suit against PT Cipta Televisi Pendidikan Indonesia (TPI) if the latter fails to repay its Rp333 billion debt.

arsip tempo : 173223622678.

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It looks like TPI is in a precarious position. In a letter addressed to TPI shareholders, Indosat stated that in two weeks, it is going to sue the television company run by the Suharto Family—in the Commercial Court—and request that the Court moves to declare TPI bankrupt.

Five years ago, Indosat bought 15 convertible bonds issued by TPI, each valued at Rp15 billion with an annual interest rate of 7 per cent. The company's majorit

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