Lest you weren't aware. Trikomsel is an Indonesian company which is in the business of selling cellular phones in Indonesia. They issued SGD corporate bonds to mainly PB (mainly accredited investors a.k.a quite rich people) but now they are very likely to default on their SGD bonds. What sucks about this is they would rather default than to issue rights to raise funds. It seems they are going to give their Indonesian creditors priority over PB folks in Singapore. It's all still unclear at this stage but some lessons are to be learnt here.
- Buying bonds from a foreign corporation is risky as they may not follow local laws and MAS can't do much. Besides, nearly all of Trikomsel's business is conducted in Indonesia, so it ...
