Lessons from Krakatau Steel - Opinion - magz.tempo.co

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Lessons from Krakatau Steel

Tuesday, February 4, 2020

Long saddled with huge liabilities, the state-owned steel producer has restructured its mountain of debt. This is a lesson for other state-owned enterprises.

Lessons from Krakatau Steel/Tempo. tempo : 171395895987.

THE government should learn a lesson from the restructuring of the huge debts of Krakatau Steel. The steel producer can now breathe more easily—at least for the time being. Repayment of debts totaling US$2.2 billion, or around Rp27 trillion, from 10 state, private and foreign banks has now been delayed until 2027. The total debt burden has been reduced from US$847 million to US$466 million. As a result, for the first time in eight years, th

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