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BPPC |
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The clove trade in Indonesia is controlled by the president's second son Hutomo Mandala Putra through an agency called BPPC while the wheat flour monopoly is held by Bogasari flour mills, owned by the politically well-connected Salim group. Additionally, BPPC has received the required number of consents of holders of the outstanding Debentures to an amendment to eliminate a covenant limiting BPPC's ability to pay cash dividends. The offer to purchase the Debentures is conditional upon BPPC successfully soliciting consents from registered holders of the Debentures for an amendment to eliminate a covenant limiting the company's ability to pay cash dividends. |
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