Jul 19, 2011

Budi Acid Jaya to settle debts

PT Budi Acid Jaya Tbk will settle Rp58 billion and US$5 million debts this year to several creditors. According to the company's Corporate Secretary Marwati Wongso, Budi Acid will pay Rp58 billion debt to Bank Mandiri and US$2.6 million and US$2.1 million to Sumitomo Corporation and Cargill Financial Services International Inc.
"We will settle the debts using internally generated cash flow," she said as quoted by Bisnis Indonesia today.
Following the debt payment, Budi Acid will make early payment of US$6 million debt this year.

Disclosure: No position at the stock mentioned above. 

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