Cocoa producer PT Davomas Abadi Tbk (DAVO), that is led by Johanas Herkiamto and so-called the owner Tse Kam Bui, is reported that the company has missed the coupon payment of its US$198 million bonds due on March 7 2012.
As quoted by Bisnis Indonesia today, Davomas should paid the coupon on March 7. The company, using its subsidiary, issued US$198 million bonds and charges a 11% coupon a year. The notes will due in 2014. Davomas management has not responded about the information.
Disclosure: No position at the stock mentioned above.
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