Indonesian Companies: Update Performance of Malindo Feedmill
The outlook for Malindo Feedmill, one of the largest animal feed producers in Indonesia, has become more upbeat after the arrival of fresh funds (IDR 537 billion) through the company's rights issue and on expectation of improving conditions in the nation's chicken breeding industry. Malindo Feedmill will use proceeds from the rights issue to repay US dollar-denominated debt to Bank Central Asia (BCA) and Bank CIMB Niaga. Based on a financial report, the company had a total debt of IDR 2.2 trillion (approx. USD $157 million) in the third quarter of 2015.