Court approves Asmin Koalindo?s debt settlement deal

By Ruli Setiawan

IDX-listed hard coking coal producer PT Borneo Lumbung Energi & Metal Tbk announced that the Central Jakarta Commercial Court had on Monday approved a debt settlement agreement reached by its 99.99 percent-owned subsidiary PT Asmin Koalindo Tuhup (AKT) and creditors.

The company said in a statement that the court also ended the suspension of obligation for the payment of debts (or PKPU), which had earlier been granted to the company as part of condition to restructure its debts.

AKT operates coal concession in Muara Raya Regency, Central Kalimantan. This portal reported last year, that AKT has been targeted to produce 1.8 million tons of coking coal this year, up from 800,000 tons last year.

Eiting by Reiner Simanjuntak