Agro industry firm PT Royal Industries is now proposing debt restructuring, through court, amounting Rp5.85 trillion to 94 creditors. But some 14 creditors have rejected the proposal. Royal Industries has proposed the suspension of debts payment (PKPU). The debt is originated from the syndicated loan worth Rp5.38 trillion provided by 18 banks, including Indonesia Eximbank (Rp1.73 trillion). Royal Group is owned by Malik Muhammad Asif family from Pakistan.
