Samindo to repay $10 million debt this year
Wednesday, March 15 2017 - 02:18 PM WIB
IDX-listed coal mining contractor PT Samindo Resources Tbk said it plans to repay debt worth about US$10 million this year.
Investor Relations Manager of Samindo Resources Ahmad Zaki Natsir told Petromindo.com on Wednesday the company?s outstanding debts currently stand at $20 million owed to South Korean financial institutions.
"We have plan to repay around $10 million this year and another $10 million next year, so that by 2018 we expect that we no longer have debt," Zaki said.
Zaki revealed that in 2015, Samindo?s outstanding debts stood at $47 million, but the company repaid around $27 million in 2016.
Samindo manages mine owned by PT KIDECO Jaya Agung at Paser Regency in East Kalimantan Province.
Editing by Reiner Simanjuntak