State-Owned Perumnas Delays Bond Issue Again
Ailing state-owned construction company Perum Perumahan Nasional (Perumnas) said it has postponed a plan to issue Rp 1 trillion ($99 million) of rupiah-based bonds until next year in hopes of receiving a better financial rating at that time, a company official said on Monday.
“We’re predicting that [the bonds] may be issued in the second quarter of next year,” said president director Himawan Arid Sugoto. “We’re conducting some enhancements at the company, including to our financial position, to get an A rating.”
Perumnas also postponed its bond issue in 2008 due to the global financial crisis.