Indocement to repay US$50m in debt to shareholder

Indocement to repay US$50m in debt to shareholder
Published: 27 February 2009

Indonesia’s PT Indocement Tunggal Prakarsa said it will repay a debt of IDR600bn (US$50m) to HC Finance BV next month.

Corporate secretary Dani Handayani said the management, however, is yet to decide how to repay the debt to the company’s majority shareholder.

Originally, the country’s second largest cement producer, which is 56.14 per cent owned by HC Finance, had a debt of US$150m but it already repaid US$100m last year.

Indocement has decided to shelve plan to build a number of new cement factories amid the global financial woes, the newspaper Bisnis Indonesia said.