Producer of industrial chemical raw material PT Tridomain Performance Materials Tbk (TDPM) had a challenging year and finally faced a default on MTN with a principal value of more than Rp400 billion. In the past two years, the company has faced four lawsuits for Suspension of Debt Payment Obligations (PKPU), and the Commercial Court granted the last lawsuit at the Central Jakarta District Court. Tridomain started drafting a peace proposal for its creditors in December 2021. However, it seems that there is no significant development. Recently, several creditors have even voiced plans to report a criminal action.To subscribe please click here
