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In order for the Company to meet its working capital requirements through cash generated from operations, PP will need to return to the levels achieved in the fourth quarter of Inflation was 8. As of the end of Maythe Company's trade payables were Rp. You can control cookies through your browser settings. Since the end of Decemberwhen the credit facilities were suspended by banks, the Company continued to receive propylene deliveries from BP Chemicals without BP being able to receive any payments under the letters of credit. The net proceeds of the Offering were loaned to the Company and used by the Company to repay indebtedness incurred in in the form of the Interim Loan. Although as of the end of May the average age of the receivables was greater than as of the end of Decemberthe amount of trade receivables has declined significantly and. As a result of tax loss carryforwards incurred through the year ended December 31,the Company was not required to pay any Indonesian corporate income taxes.

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  • Polytama international finance selfsubque
  • Polytama international finance selfsubque

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    SinceInternational Finance Bank has grown alongside the Miami community, serving clients from around the world. We customize any of our banking and. Company profile page for International Finance Bank including stock price, company news, press releases, executives, board members, and contact information.

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    The Company anticipates that it will have sufficient tax loss carryforwards remaining to discharge any Indonesian corporate income tax obligation through The plans for the construction of the Polytama II Project have been suspended and, hence, the Company's management and shareholders have resolved to make no further capital investment in Polytama II.

    Business Advisory Experience Experience of financial, forecasting and market modelling for energy and petrochemical industries and the influence of macroeconomic drivers and their interplay with emerging markets Market characterisation and business positioning studies Technical and commercial feasibility for new petrochemical investments, and support of financial advisors for chemical investments Market, logistical and pricing forecast studies and econometric modelling Market advisory at the project financing stage on behalf of an international client that secured a multi-billion dollar debt-facility for the construction of a large greenfield petrochemical complex.

    The Company is seeking in the short-term to meet its working capital requirements, including payments for propylene and payments of interest on the Deutsche Bank and Chase facilities, through cash generated from operations, including insurance recoveries for periods of Plant shutdown.

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    This Statement is also effective for financial statements for fiscal years beginning after December 15, In order for the Company to meet its working capital requirements through cash generated from operations, PP will need to return to the levels achieved in the fourth quarter of

    images polytama international finance bank
    Polytama international finance bank
    As a result of tax loss carryforwards incurred through the year ended December 31,the Company was not required to pay any Indonesian corporate income taxes.

    See Item The Company has no amounts owing to SIB. While part of the increase was due to increased sales, the principal cause was an increase in the average age of the receivables cause by late payments in the later part of Although as of the end of May the average age of the receivables was greater than as of the end of Decemberthe amount of trade receivables has declined significantly and.

    Chase Securities.

    International Finance Bank

    polytama international finance TPPI has debts to such as banking, finance, wealth management, Islamic finance, trading, aviation. secured notes due of Polytama International Finance B.V. The million of the proceeds will be used to refinance existing bank debt. (iii) Exhibit T3A.3 -- Articles of Association of Polytama International Finance, B.V. among the Issuer, the Company, the and The Bank of New York, as Trustee.
    Future Capital Expenditures and Expansion.

    Stefano also has remarkable experience on gas, having led projects such as global LNG study for a Middle Eastern producer, as well as natural gas valorisation study for Iraq and Turkmenistan.

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    If inflation continues at the above forecast rates, the Company's revenues will most likely decline. Business Advisory Experience Experience of financial, forecasting and market modelling for energy and petrochemical industries and the influence of macroeconomic drivers and their interplay with emerging markets Market characterisation and business positioning studies Technical and commercial feasibility for new petrochemical investments, and support of financial advisors for chemical investments Market, logistical and pricing forecast studies and econometric modelling Market advisory at the project financing stage on behalf of an international client that secured a multi-billion dollar debt-facility for the construction of a large greenfield petrochemical complex.

    Most domestic and foreign banks have severely restricted or stopped new credit facilities for working capital or other purposes.

    images polytama international finance bank
    Polytama international finance bank
    Business Advisory Experience Selected industry experience — NGL consulting group leader — Managed a team of global consultants concentrating on the global natural gas liquids NGL — Propane, Butane, ethane sector — Projects ranging from shipping to petrochemicals applications.

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    Other potential propylene suppliers would generally also require purchases to be made against letters of credit or on a cash-on-order basis. These databases are regularly updated and include historical and forecast market scenarios: one of the core activities of the Energy and Refining consulting practice.

    The Company anticipates that it will have sufficient tax loss carryforwards remaining to discharge any Indonesian corporate income tax obligation through BP Chemicals is currently delivering propylene to the Company only on a cash-on-delivery basis for propylene coming from Pertamina and only on a cash-on-order basis for imported propylene.

    SFAS No.

    He was the managing director of Polytama International Finance B.V. from the Institute de Gemmologie de Madagascar under a grant from the World Bank. The tariff partially insulates the Company from international competition and allows it to In response to the difficult economic and financial conditions currently .

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    On DecemberDeutsche Bank Ag, Jakarta and Chase Manhattan Bank. PPA puts Paiton back on banks' live list PT Polytama deal close to completion Syndication of PT Polytama Propindo's US$m year project financing.
    Please find more information on the cookies used on our site here Continue. Net cash in the amount of Rp.

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    Business Advisory Experience A Swiss-Italian, Stefano has over 20 years of experience and is recognised as an international expert in his field, particularly in the area of Oil Refining Strategy and Petrochemical Feedstocks. The Company believes that further reductions in the level of inventories from those that existed as of the end of May would not provide the Company with any meaningful amounts of cash and believes any such reductions could not be made without causing delivery problems with its customers.

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    As a result of tax loss carryforwards incurred through the year ended December 31,the Company was not required to pay any Indonesian corporate income taxes.

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    Since the end of Decemberwhen the credit facilities were suspended by banks, the Company continued to receive propylene deliveries from BP Chemicals without BP being able to receive any payments under the letters of credit.

    Zehnder icis. Queensland University of Technology, Brisbane, Australia.

    Polytama international finance selfsubque

    Inflation may adversely affect the Company's results of operations, especially as there may be a decline in domestic sales as consumers switch to substitute products as a result of the increase in the price of local polypropylene products. In order for the Company to meet its working capital requirements through cash generated from operations, PP will need to return to the levels achieved in the fourth quarter of He also has significant international consultancy experience having been involved in many projects including feasibility studies, operational improvements and financial advisory.

    The Indenture under which the Notes were issued contains certain covenants that, among other provisions, limit the ability of the Company to incur additional indebtedness, limit certain restricted payments, limit the sales of collateral and limit the creation of any lien on collateral.

    Comments (5)

    1. Tektilar

      Reply

      Zhang is an experienced consulting manager with a strong expertise in petrochemical industries and business advisory engagements with global petrochemicals giants and investment banks. Recent economic developments in Indonesia have prompted certain international credit rating agencies, including Moody's Investors Service, Inc.

    2. Kigagis

      Reply

      These restricted cash amounts are held by Deutsche Bank and Chase as security against amounts owing to these banks under the credit facilities described above.

    3. Kigak

      Reply

      Since late and continuing to date, the Company has been significantly constrained in its ability to obtain working capital funding. Future Capital Expenditures and Expansion.

    4. Kem

      Reply

      We use cookies to improve the performance of our site, to analyse the traffic to our site, and to personalise your experience of the site. Although as of the end of May the average age of the receivables was greater than as of the end of Decemberthe amount of trade receivables has declined significantly and.

    5. Tojajas

      Reply

      All of these credit facilities either expired on or before June 5, or have been suspended, and neither these banks nor other banks have been willing in the current circumstances to extend new credit facilities to the Company.