PTRO and Morowali Coal to end their dispute

PT Petrosea Tbk (PTRO) and PT Morowali Coal (MC) put an end to the dispute regarding the disbursement of a guaranteed bond worth IDR 60.01 billion for the infrastructure projects in Murung Raya, Central Kalimantan. This news was stated by Meinar Kusumastuti, the Director of PTRO, through the information disclosure on Wednesday (7/4).

It was revealed that the dispute had ended earlier this week (5/4). The dispute was over, and the contract was closed, Kusumastuti stated.

As mentioned before, MC sent an invoice of IDR 60.01 billion to PTRO due in 30 days. Following the request, PTRO filed an objection towards MC. However, on January 25, 2021, PTRO received a notification from PT Bank Mandiri (Persero) Tbk (BMRI) regarding a BG disbursement to MC. PTRO then responded by taking legal action towards the said disbursement.

Kusumastuti thought that this BG disbursement would affect how the BG-providing bank perceived PTROs performance. (LK/ZH)

 

Source:https://www.idnfinancials.com/news/38708/ptro-morowali-coal-dispute