JAKARTA. PT Modernland Realty Tbk (MDLN) received a resignation letter from L.H. Freddy Chan, who resigned from his position of Deputy President Director, together with the announcement of default on MDLN bonds worth Rp 150 billion.
William Honoris, Managing Director of MDLN, said management will process Chan's resignation letter. "In accordance with the company's articles of association and applicable laws," Honoris said through an information disclosure.
According to the data owned by idnfinancials.com, Chan has served as a director at MDLN from 2011 to 2016. Then from 2017 to 6 July 2020, he became MDLN's Deputy President Director.
As reported on idnfinancials.com earlier, MDLN may default on its Rp 150 billion bonds. MDLN management is trying to restructure the debt, through a general meeting of bondholders held on Thursday (9/7) today. (KR/AR)