VIVAnews - PT Sumalindo Lestari Jaya Tbk (SULI) is planning to restructure 50 percent of the company's shares. Up until December 2008, the company booked debt in US dollar which reached around US$80 million.
The debt resulted in the losses from foreign currency in 2008 to increase by until 498 percent compared to 2007.
"The company's ability [in repaying debt] is obstructed due to the decreased sales. As a result, the renegotiation with several banks is conducted," said Sumalindo Lestari Jaya Deputy Director on Friday, May 22.
Based on the company's financial report per 31 December 2008, the company's losses reached Rp 262.54 billion. In 2007, the company earned Rp 27.6 billion.
Meanwhile, in the first quarter of 2009, Sumalindo suffered currency losses by Rp 79.54 billion.
This year, Sumalindo will not allocate budget for capital expenditures.
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Translated by: Bonardo Maulana Wahono
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