PT Lautan Emas Mulia (LEM) which is currently in a period of Suspension of Payment (PKPU), expressed readiness to pay his debts. This is evidenced by the peace proposal.
In a peace proposal put forward, LEM unable to pay debts to creditors starting in January 2014. The gold companies can confidently rely on coal contractor who became his business partner. Since November 2012 the price of gold continues to decline, so did the price of coal. This leads to bad corporate loans. March 2013 LEM had announced the postponement of its obligations to customers.
LEM states that a coal contractor optimistic business partner in January 2014 has been able to operate the result of coal mined. The results can be paid receivables to LEM. In addition, LEM also has assets in the form of two automobiles and gold weighing 6.4 kilograms is still in the hands of the leadership of the branch.
In a debt repayment plan, LEM will only pay the difference in principal debt alone. Payment will be done gradually each month, starting on January 20, 2014 up to 48 months or for four years.
For sale Precious Metals with a pattern of physical contracts are still active contract period will be paid the difference in the amount of 25 percent of the contract value stated in the invoice. While customers who conduct transactions with multiple systems and system Detained Settlement (DS) which is still active will be paid in accordance with the contract value stated in the invoice.
Previously, LEM filed PKPU for itself because bankruptcy sued by its customers. Gold bullion investment company offers a number of products such as the purchase of gold without the facility deposits, gold deposits, retail deposits pawn gold, pawn gold deposits venture capital, conventional purchase, payment rabate buyer, purchase and repurchase extension.
LEM main revenue comes from sales of gold investment products and investment in coal mining to a third party. But because the price of gold fell and coal prices also fell, LEM experiencing financial difficulties and balance of payments. Company was founded in 2010 and then have clients whose debts are due and payable.
Based on the meeting last verification, LEM debt reached USD 618.4 billion. This bill comes from creditors 2,858 spread across several major cities in Indonesia such as Bandung, Bogor, Cirebon, Jakarta, Medan, Palembang, Serpong, and Semarang.