Bankruptcy Waves In Property Sector

By Editorial Team 18/11/2020
Dampak COVID-19 di sektor properti
Summary

Astra Group's subsidiary, PT Acset Indonusa Tbk (ACST), submitted a petition for postponement of debt payment obligations (PKPU) to PT China Sonangol Media Investment, the developer of Gedung Indonesia One. Besides Acset, China Construction Eighth Engineering Division Corp Ltd and PT Bintai Kindenko Engineering Indonesia also filed PKPU petitions to the Central Jakarta District Court. Registration for the PKPU petition is carried out on November 12, 2020, with case number 385/Pdt.Sus-PKPU/2020/PN Niaga Jkt.Pst.

As reported from the Central Jakarta District Court, the petitum or the petitioned matter, among other things, stipulates the temporary PKPU for the defendant, no later than 45 days after the petition is filed. The first session of the PKPU request will be held on November 23, 2020. Acset is a construction contractor for the Indonesia One Building, located at Jalan M.H Thamrin, Central Jakarta. PT China Sonangol Media Investment (CSMI), a joint venture between PT China Sonangol Land and the Media Group owned by businessman Surya Paloh, build this 303-meter high twin building. Gedung Indonesia One is designed as a superblock consisting of offices, retail, condominiums, and service apartments.

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