Indonesia-based mobile phone retailer Trikomsel Oke informed its bondholders that it is bound to fail meeting interest payment obligations on two Singapore dollar-denominated bonds due in November and December 2015. The company, which been experiencing financial turmoil due to the depreciating rupiah, will submit debt restructuring proposals to its creditors in November. The looming default will be the first default in Singapore’s local currency corporate bond market since Celestial Nutrifoods Ltd and Sino-Environment Technology Group Ltd defaulted in 2009.
Update COVID-19 in Indonesia: 927,380 confirmed infections, 26,590 deaths (19 January 2021)
19 January 2021 (closed)
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%
Jakarta Composite Index (6,321.86) -67.98 -1.06%