Jakarta. Following the case of default payment by Brent Ventura of its Medium Term Note (MTN), the potential default payment by PT Berkat Bumi Citra of its MTN has recently led to unease among the investors. Berkat Bumi is the subsidiary of PT Bumi Citra Permai Tbk (BCIP) under the Millenium Group. Initially, the MTN funds would be allocated to develop a 1,800 hectare of Millenium Industrial Estate or MIE industrial zone in Cikupa, Tangerang. The total worth of released MTN by Berkat Bumi remains unclear. But some sources of KONTAN mentioned that the total value of the MTN amounted to hundreds billion rupiah.
Monitoring potential default by BCIP subisidiary
Jakarta. Following the case of default payment by Brent Ventura of its Medium Term Note (MTN), the potential default payment by PT Berkat Bumi Citra of its MTN has recently led to unease among the investors. Berkat Bumi is the subsidiary of PT Bumi Citra Permai Tbk (BCIP) under the Millenium Group. Initially, the MTN funds would be allocated to develop a 1,800 hectare of Millenium Industrial Estate or MIE industrial zone in Cikupa, Tangerang. The total worth of released MTN by Berkat Bumi remains unclear. But some sources of KONTAN mentioned that the total value of the MTN amounted to hundreds billion rupiah.