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Friday, January 7, 2011

Infoasia miss its bond payment

BI/bursa
Irvin Avriano A.
Bisnis Indonesia

Infoasia miss again its bond repayment

JAKARTA: PT Infoasia Teknologi Global Tbk haven't been set up for their II/2004 bond principal maturity worth IDR69.49 billion last December. The breach could given the company a second default statement.

"[They] haven't been set up [the bond paid off]," said Indonesian Stock Exchange (IDX) Corporate Finance Director Eddy Sugito yesterday.

The maturity date that been set on December 23th was an extension from its real maturity date. The extension maturity obtained by the bond and stock emitter due to a extraordinary general meeting of bondholders (rapat umum pemegang obligasi/RUPO) in 2008 and 2009.

The IT and internet company's bond was issued on 2004 and divided into three tranches. Now, the existing tranches are only the two latest, B tranche worth IDR9.26 bio and C tranche worth IDR60.23 bio.

The company also full of lack of assessment into bourse authority, reflected by its late financial statement and high amount of fine that imposed by IDX to the company. The latest financial statement that been reported to IDX are only 3rdQ/2009.

Their president director, Didi Supriyanto, also have been resign last year, and hand over the company responsibility to the company's commissioner and controlling shareholder. Previously, the company has shared that listed in the stock market, coded IATG, but been suspended and delisted because of bad financial condition.

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