INDONESIA: Polysindo Takes Over Subsidiary's $60m Debt
Indonesian integrated producer of textiles PT Polysindo Eka Perkasa will take over a $60m debt owed by its subsidiary PT Texmaco Jaya, Asia Pulse reported. The company said the debt included Rp272.04bn ($27.2m) in local currency and interest amounting to $3.16m. The debt transfer, however, is yet to be approved by independent shareholders.
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