Property developer Summarecon Agung (SMRA) prepares fund of Rp1.8 trillion to paying off maturing bonds this year. The bonds issued in 2017 with total amount Rp800 billion and due on Nov. 28 and on Dec. 16, 2020 must pay Rp500 billion for matured bond issued in 2015.
According to the director, Lydia Tjio, to repay the obligation with internal cash but also opens up raises fresh funding from the capital market (including bonds).
President director of Summarecon, Adrianto P. Adhi, rated that this year’ property sales will be affected by the national economic slowdown during pandemic. Other negative sentiments are low oil prices, excess supply, as well as the tension between the United States and China.