Bitter Pill For A Hungry Giant

THE worry that has existed for a long time now has finally become reality. Textile and machinery products giant Texmaco has been unable to make its debt repayments. On August 18 this year, the two new holding companies set up for restructuring requirements, PT Jaya Perkasa Engineering and PT Bina Prima Perdana, failed to pay out bond coupon interest amounting to Rp139 billion that was due to the Indonesian Bank Restructuring Agency (IBRA).

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