Government will Still Collect Bakrie Telecom`s Debt

Ilustrasi (dok)

JAKARTA (IndoTelko) - Indonesian Ministry of Communications and Information Technology (Kemenkominfo) will continue to collect the frequency Usage Fee (BHP) debt to Bakrie Telecom amounting Rp 1.2 trillion.

"Our position as directed by the minister is still to collect debts from Bakrie Telecom. Currently the matter is handled by the SDPPI legal department and PPI," stated the Director General of Post and Information Kalamullah Ramli to IndoTelko, Yesterday.

Bakrie Telecom has a total debt bill of Rp 11.3 trillion. The debt is classified into the frequency BHP (usage fee) debt and universal service obligation (USO) amounting Rp 1.26 trillion, business debt of Rp 2.4 trillion, tower provider debt of Rp 1.3 trillion, and the debt proceeds from the senior notes of Rp 5.4 trillion.

The Esia brand holder also has an affiliation debt of Rp 73.7 billion, derivatives debt of Rp 185.3 billion, guaranteed debt of Rp 625.4 billion and Rp 2.6 billion of vehicle financing.

After receiving the approval of Suspension of Debt Payment (PKPU) of the Central Jakarta Commercial Court, Bakrie Telecom plans to restructure debt worth US $ 380 million, or Rp4.6 trillion with two schemes, namely the $ 266 million debt swap with 53% of the shares in stages over three years and the remaining US $ 144 million will be paid in installments.

The ministry as one of the preferred creditors is objected to the steps taken by Bakrie Telecom to submitting the Rp 1.2 trillion of BHP (usage fee) frequency bills worth in debt restructuring program.

Kemenkominfo has filed reconsideration to review Bakrie Telecom's debt restructuring to the Supreme Court (MA).

The Government have asked the management of Bakrie Telecom to repay the main debt along with the radio frequency usage fee fine (Rp 1.002 trillion), Telecommunications usage fee (Rp 38.34 billion) and the contribution of the Universal Service Obligation (USO) (Rp 163.12 billion) as soon as possible.

Head of Section Legal Aid Directorate General of the Ministry's Resources and Equipment of Post and Information Technology (SDPPI) Fauzan Riyadhani said that the debt for the use of these frequencies can not be restructured because its position is similar as the tax debt.

The government should be placed as preferred creditors that would have the priority over debt payments to be repaid. In accordance of the legal basis of Law No.20 of 1997 on non-tax state revenues (non-tax).

According to him, Bakrie Telecom is required to settle all of its obligations and administrative fine of 2% per month, with a maximum period of 24 months from the amount of the shortfall.

Bakrie Telecom's restructuring advisor Joel Hogarth in his statement to the media yesterday revealed that Bakrie Telecom is not required to separate the debt to the government of the restructuring process because each creditor has the same rights. "There is no legal authority for them (the government) to be treated as different lenders," said Joel as reported by Reuters. (es)