PT Bumi Resources Tbk (BUMI), which has been in a period of Suspension of Debts Payment (PKPU), submitted a disclosure to the Financial Services Authority (OJK)’s Securities and Exchange Commission on August 30, 2016 concerning the sale of shares of its subsidiaries. In this process, BUMI acted as a guarantor and the proceeds were used for paying BUMI’s debt to one of its creditors. The PKPU administrators approved of these transactions even though it was reported within the period of PKPU. BUMI’s PKPU is supposed to end on September 30, 2016.To subscribe please click here
