Reuters: Hot Stocks: STOCKS NEWS INDONESIA-Trading in Bakrie Telecom suspended on debt concerns

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS INDONESIA-Trading in Bakrie Telecom suspended on debt concerns Sep 4th 2012, 05:49 Tue Sep 4, 2012 1:49am EDT Indonesian Stock Exchange suspended trading in shares and rupiah denominated bonds of Bakrie Telecom to avoid market speculations as the mobile operator is scheduled to pay its bondholders on Tuesday. "The stock exchange authority is still listing BTEL I-2007 bonds until company is able to fulfil its duty on the bond payment," the exchange said in a statement on Tuesday. The CDMA operator was due to pay principal and interest worth about 650 billion rupiah ($68.17 million) to its bondholders, while the Indonesian Central Securities Depository (KSEI) had only received 200 billion rupiah. Analysts expect Bakrie Telecom's financial problems to continue, leaving very little room for raising further debt as its 2015 bond covenant will be breached and therefore its capex guidance will remain modest compared with bigger players. Bakrie Telecom stock closed at 137 rupiah on Monday. The broader Jakarta Composite Index was up 0.08 percent at 1217 p.m. (0517 GMT) ($1 = 9,535 rupiah) (Reporting by Andjarsari Paramaditha)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions