Tag: Bakrie Telecom

Corporate Actions to Watch

Bakrie & Brothers (BNBR), Bakrie Sumatera Plantations (UNSP), Bakrie Telecom (BTEL), and Energi Mega Persada (ENRG)—four companies of the Bakrie Group—are seeking ways to settle their matured debt of Rp17.93 trillion. BTEL claims to have obtained approval from the Financial Services Authority (OJK) for issuing convertible bonds worth Rp7.6 trillion in the first quarter of 2017.

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The End of Bakrie Telecom

Bakrie Telecom (BTEL) has just released its financial statement for the period ended September 30, 2016 yesterday. The Company, controlled by Bakrie Family, booked net loss of Rp751.24 billion in Jan-Sep 2016, significantly smaller than Rp3.67 trillion it posted in the corresponding period of 2015, but doesn’t change the fact that it is closer to the end of the business.

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