PT Bakrie Sumatera Plantations Tbk plans to restructure PT Domas Agrointi Prima debt worth US$314 million. The obligation here is the US$45 million loan from Bank Mandiri for acid plant and US$78 million loans for refinery plant.
Besides, the company will also restructure the US$151 million obligation to Credit Suisse at alcohol plant and global cosmetic producer, Procter & Gamble (P&G), worth US$40 million.
President Director of Bakrie Plantations Ambono Janurianto said the company has got exclusive rights to acquire 100 percent shares of PT Domas Agrointi Prima for six months from November. But, he said the company planned to finalize the acquisition of Domas by next February.
"The off taker deal with P&G will be covered but with some necessary revision," he said yesterday.
Domas Agrointi or popularly known Domba Mas is the large scale debtor to PT Bank Mandiri Tbk. Domas owned 99.6 percent shares of PT Sawitmas Agro Perkasa, 0.4 percent shares of Sawitmas, and 100 percent of PT Sarana Industama Perkasa, 100 percent of PT Flora Sawita Chemindo, 100 percent shares of PT Domas Agrointi Perkasa, and 100 percent of PT Domas Sawitindi Perdana.
Ambono said the sales contract of oleo chemical product to P&G was done with fix price so that Domba Mas failed to meet order on the price hike. "Through restructuring we will later supply the product but with market price."
Domba Mas and P&G in 2005 signed contract of sale and purchase for alcohol fat acid worth more than US$1 billion for 10 years. The purchase might be higher 200,000 tons of oleo chemical per year consisting of the 160,000 alcohol fat acids per year.
Ambono said the company will finalize the acquisition of three plantation firms in Sumatra worth totally IDR950 billion. "There are two companies on CPO plantation, and one rubber plantation."
The company will complete the acquisition of those three firms after rights issue completion. The total areas of those three firms are 34,000 hectares plots of land, 17,000 hectares of planted areas and 17,000 hectares land reserve.
Corporate data shows the areas owned by the company are about 103,536 hectares. Upon the completion of acquisition, Bakrie Plantations will have 137,536 hectares plots of areas. "By 2012, we target to have 150,000 hectares. We open chances to acquire other plantation if it gives added value."
Besides, the company will also restructure the US$151 million obligation to Credit Suisse at alcohol plant and global cosmetic producer, Procter & Gamble (P&G), worth US$40 million.
President Director of Bakrie Plantations Ambono Janurianto said the company has got exclusive rights to acquire 100 percent shares of PT Domas Agrointi Prima for six months from November. But, he said the company planned to finalize the acquisition of Domas by next February.
"The off taker deal with P&G will be covered but with some necessary revision," he said yesterday.
Domas Agrointi or popularly known Domba Mas is the large scale debtor to PT Bank Mandiri Tbk. Domas owned 99.6 percent shares of PT Sawitmas Agro Perkasa, 0.4 percent shares of Sawitmas, and 100 percent of PT Sarana Industama Perkasa, 100 percent of PT Flora Sawita Chemindo, 100 percent shares of PT Domas Agrointi Perkasa, and 100 percent of PT Domas Sawitindi Perdana.
Ambono said the sales contract of oleo chemical product to P&G was done with fix price so that Domba Mas failed to meet order on the price hike. "Through restructuring we will later supply the product but with market price."
Domba Mas and P&G in 2005 signed contract of sale and purchase for alcohol fat acid worth more than US$1 billion for 10 years. The purchase might be higher 200,000 tons of oleo chemical per year consisting of the 160,000 alcohol fat acids per year.
Ambono said the company will finalize the acquisition of three plantation firms in Sumatra worth totally IDR950 billion. "There are two companies on CPO plantation, and one rubber plantation."
The company will complete the acquisition of those three firms after rights issue completion. The total areas of those three firms are 34,000 hectares plots of land, 17,000 hectares of planted areas and 17,000 hectares land reserve.
Corporate data shows the areas owned by the company are about 103,536 hectares. Upon the completion of acquisition, Bakrie Plantations will have 137,536 hectares plots of areas. "By 2012, we target to have 150,000 hectares. We open chances to acquire other plantation if it gives added value."
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