JAKARTA (Yosefardi) – PT Apac Citra Centertex Tbk (MYTX) said Bank Mandiri has approved debt restructure proposed by its unit PT Apac Inti Corpora (AIC).
AIC’s loan to shareholder amounting US$15 million will be converted into equity or share, to be executed in end of this year. After the debt conversion, Apac Citra’s ownership in AIC reaches 45.2%.
MYTX manufactures garments and textile products. The Company’s factory is located in Tanjung Emas, Semarang and its products include garments, yarns, grey fabrics, denim fabrics and finished fabrics.