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Debts and Deeds

Tuesday, April 15, 2003

Texmaco has not only misused its letters of credit, it's debt restructuring could lead to large losses for the government. What is next?

arsip tempo : 173227548031.

. tempo : 173227548031.

What banker is not averse to doing business with Texmaco? Bank Negara Indonesia (BNI), which provided Texmaco with Rp10 trillion in credit, today is reluctant to deal with the owner, Marimutu Sinivasan. Despite decades of business transactions between the two entities, BNI has stopped issuing Texmaco letters of credit. The reason? There is no indication that Texmaco is repaying its debts. Access to letters of credit worth Rp720 billion, was

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