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Media & Entertainment

Trump's Indonesian partner wins court nod on debt restructuring

MNC owned by media tycoon Hary Tanoesoedibjo to shrink $231m loan

MNC, controlled by Hary Tanoesoedibjo, right, is involved in ongoing development of resorts in Indonesia with the Trump Organization owned by former U.S. President Donald Trump, left. (Source photos by Reuters) 

JAKARTA -- Indonesian media and property conglomerate MNC Investama, which is developing luxury resorts with the Trump Organization, has won Singapore court approval for its notes-to-shares conversion plan as part of a $231 million debt restructuring.

MNC Investama is an investment holding company controlled by Indonesian tycoon Hary Tanoesoedibjo. It said in a news release on Monday the arrangement will lower its stand-alone debt by 65% to a maximum of $81 million. The company's stock rose 11% to 59 rupiah per share on Monday.

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