Troubled Suryainti Permata

Suryainti Permata (SIIP), a property and real estate developer based in Surabaya, East Java, was listed on the Indonesia Stock Exchange (IDX) in 1997. In 2012, however, SIIP was delisted. IDX delisted SIIP shares after two years of suspension of trading with the main reason being SIIP had failed to pay debt interest of US$5.03 million per semester to Oversign BV, a firm based in Amsterdam. The principal debt reached US$70.7 million, equivalent Rp941.75 billion.

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