Padang needs investment funding

Padang needs investment funding
Published: 06 June 2005

President Director of PT.Semen Padang, Dwi Soetjipto said the state cement producing company needed Rp315 billion for restructuring and improving company’s financial condition.  "However, of that total amount, we can save some Rp120 billion by cancelling dividend payments to PT. Semen Gresik, so that we only have to seek the remaining Rp195 billion," he said here on Friday.  Soetjipto said his side was considering to borrow Rp195 billion from a number of domestic banks.  He said he has asked PT Semen Gresik’s permission and support to have its dividend payments cancelled in the next three years. years.