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Hanson will pay its debt using its its New Maja Raya assets

27 January 2020 16:20

JAKARTA. PT Hanson International Tbk (MYRX) seeks to resolve its debt problem by considering asset settlement.

Director of Hanson International, Rony Agung Suseno, said that there were several holders of MYRX's bond who did not agree with the asset settlement option.

Rony explained that in the settlement option, Hanson International will give up its assets located within the Citra Maja Raya complex and named it New Maja Raya.

According to him, the rejection was because the holders compared the houses in New Maja Raya offered by MYRX with the simple houses in Citra Maja Raya. The price of those simple houses in Citra Maja Raya is much cheaper because it has lower quality than houses in New Maja Raya. 

"So that holders of STB (short term borrowing) who reject the option consider the company to take more profit," explained Rony in the disclosure of information on the Indonesia Stock Exchange last week. (AM/AR)

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