, Singapore

Bumi Resources units get court moratorium over debt woes

Amid depressed coal prices.

A report by Reuters shares that three subsidiaries of Bumi Resources Tbk PT have obtained a six-month moratorium at a Singaporean court against legal action. This came as they apply to enter a court process to restructure their debt, the companies said on Tuesday.

Singapore-based Bumi Capital Pte Ltd, Bumi Investment Pte Ltd and Enercoal Resources Pte Ltd said the moratorium would facilitate discussions with noteholders and bondholders, according to a statement.

Bumi Resources, Indonesia's largest coal miner, has been struggling to service its debt amid depressed coal prices. It has delayed a coupon payment due October to end of November.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!