IWIRC Indonesia的动态

Indonesian Steel Market Woes Complicate Krakatau’s Restructuring: Bloomberg Indonesian steelmaker PT Krakatau Steel’s attempt to restructure $1.5 billion of loans is turning the spotlight on operational and industry woes that complicate the process. The government is trying to finalise a restructuring deal between Indonesia’s largest steelmaker and its lenders in October,?Bloomberg?reported late last week. Its falling revenue, stiff competition from cheap Chinese imports, and the death of its president director on Wednesday could factor into the parties’ negotiations on what to do with the loans. For the full story: https://lnkd.in/dYi7GPU8

Indonesian Steel Market Woes Complicate Krakatau’s Restructuring: Bloomberg PT Krakatau Steel is restructuring $1.5 billion in loans amid significant industry challenges, including competition from Chinese imports and production setbacks due to a 2023 plant fire. The company's revenue dropped sharply in 2024, with net losses widening. Government efforts, including import cuts and financial aid, have yet to restore profitability, as Krakatau Steel has posted losses in nine of the last 12 years. Broader industry pressures and internal operational issues remain critical concerns for the company's future recovery. For the full story: https://lnkd.in/gxGTqpuC

#BudgetWithMC | Department of Investment and Public Asset Management is hoping to push through strategic sales in companies like #SCI and #NMDC Steel. Meghna Mittal brings more details ? #UnionBudget #FunanceMinistry #NirmalaSitharaman

Criteria Assets for murabahah financing are following: a. Assets must be in the form of goods and/or rights that may be used and traded according to sharia principles and applicable laws and regulations. b. Assets that are the object of murabahah financing are not receivables. c. The assets already exist, are definite/certain, measurable, are not in the process of being made and can be handed over (maqdurut taslim) and are owned by the Bank at the time of the murabahah financing contract. d. The requirement that the assets already exist and are owned by the Bank at the time of the murabahah contract is excluded from financing contracts in the form of mu'allaq contracts. Assets that are the object of murabahah mu'allaq must be clear in accordance with business customs between business actors ('urf tijari).

Cleveland-Cliffs eyeing all-cash bid for U.S. Steel, source says. Cleveland-Cliffs?(CLF.N), is partnering with peer Nucor?(NUE.N), to prepare a potential all-cash bid for U.S. Steel?(X.N), with an offer in the high $30s per share, a person familiar with the matter said on Monday. Cliffs is aiming to purchase all of U.S. Steel and then sell its Big River Steel mill to Nucor if the deal is completed, the person added on condition of anonymity because the details have not been made public. https://lnkd.in/gf5Zb3Aj

The year 2024 was a difficult one for many B.C. businesses, with a number of insolvencies occurring in a variety of sectors, reported Western Investor. "Nationally, business insolvencies for the 12?month period ending Oct. 31 increased by 41.7 per cent year to year, according to the federal?Office of the Superintendent of Bankruptcy?(OSB). The October data was the most recent available. Transportation, warehousing, construction, accommodation and food services registered the biggest increases in insolvency numbers, OSB said. Mining, quarrying and oil and gas extraction registered the biggest decreases." https://lnkd.in/gtWN-bQ6 #britishcolumbia #economy #business #insolvency

Saudi’s Modern Mills Company restructures debt with US$232M Murabaha loan, eyes expansion https://lnkd.in/d5KGphHM #millinginsights #grains #flour #storage #silo #investments #wheat #gmo #foodsafety #durum #oilseeds #edibleoils #commoditytrading #newproduct #acquisition #bakingindustrynews #financialstatements #snacknews

Bids for KSK Mahanadi Power Surge Following Adani Group's ?12,500 Crore Offer. Adani Group's ?12,500 crore bid to acquire KSK Mahanadi Power has sparked increased interest from other bidders, prompting them to revise their offers upwards significantly, sources indicate. Following the introduction of the Committee of Creditors (CoC) Challenge Mechanism, lenders to the distressed power plant are now optimistic about a potential full recovery from the non-performing asset, a notably rare occurrence in the Insolvency and Bankruptcy Code (IBC) process. Insiders within the IBC framework attribute the renewed interest in KSK Mahanadi to Adani's initial high bid, which was 62% or ?4,800 crore above the next highest offer. Six of the original ten bidders, including NTPC, have now submitted revised offers that are competitive with Adani's bid, reflecting strong market interest and driving up the asset's value. This development underscores the IBC's focus on value maximization, industry insiders noted. Adani's competitive bid, when combined with KSK Mahanadi's cash reserves of ?10,000 crore and trade receivables of ?4,000 crore, brings the total value to approximately ?27,000 crore, potentially allowing lenders to achieve an unprecedented recovery rate of 92%. Located in Chhattisgarh, KSK Mahanadi has an installed capacity of 1,800 MW and was brought into the IBC process in 2019 with accumulated debts of ?29,330 crore. Adani's bid is currently the highest among competitors, which include major players like JSW Energy, Jindal Power, Vedanta, NTPC, and Coal India. Previous bids had ranged between ?6,500 crore and ?7,700 crore, significantly lower than Adani's proposal. Despite Adani's strong offer, the CoC's Challenge Mechanism was implemented to stimulate further competition, resulting in improved bids from remaining contenders. This bid for KSK Mahanadi marks a pivotal moment for the IBC, as corporate influence and the potential for value maximization intersect. While some may view the consolidation of power as concerning, others argue it represents a necessary evolution in India's insolvency landscape.

The Italian government has allocated about €1 billion from the country’s development fund for the construction of a direct reduced iron production facility at the Acciaierie d’Italia (ADI, formerly Ilva) steel plant in Taranto. The future investor of ADI will receive support in the amount of about €700 million through the use of development contracts, as well as additional resources that may come from the Development and Cohesion Fund (FSC), subject to the restrictions established by EU rules. Procedures are underway for the Ministry of Economy to provide a €320 million bridge loan to Acciaierie d’Italia, and that negotiations with the European Commission are progressing smoothly. As such, the resources that are fundamental to continuing the production, maintenance and supply recovery program required for ADI will arrive on time. In addition, Acciaierie d’Italia’s emergency administrators have started the practice of paying off loans to companies in the supply chain within 60 days – under the previous management, payments were made annually. A significant portion of the past debts, about half, will be transferred to Sace (insurance and financial services for enterprises), and negotiations are in an active stage. Read more here?? #GMKCenter?#Ukraine?#steelmakers?#steel #DRI #iron #ore #investments #EU #Europe #Italy #blastfurnace