Jakarta (ANTARA) – The debt cancellation program for micro, small, and medium enterprises (MSMEs) has begun implementation in Indonesia, a minister said on Friday.

“The data collection is being completed. We are already underway with the debt cancellation process,” Minister of MSMEs Maman Abdurrahman remarked.

He explained that data collection has been carried out on MSMEs that have received debt collection assistance through the Association of State-Owned Banks (Himbara).

However, he acknowledged that technical factors, such as the geographical distance between MSME entrepreneurs in the country, are currently hindering the debt cancellation process.

“Each of them is spread far away. This is a technical matter,” Abdurrahman said.

He…

A LARGE industrial site previously owned by a long-running coach-building business near Colchester has hit the market for £8.5million.

Centre Park, a warehouse site, in Main Road, Frating, has been listed on Rightmove for £8,500,000 by property firm Fenn Wright.

The site is roughly the size of three football pitches, with almost 56,000 sq ft of indoor space.

A Smith Great Bentley used to own and be run from the site but the company went into liquidation in November 2023.

Signage – A Smith Great Bentley LTD (Image: G J Wisdom & Co Auctioneers & Valuers)

Entrance – the site (Image: Google Maps)

On the market – another aerial view of the site (Image: Fenn Wright)

Established in 1973 and originally located in Great Bentley, the firm was…

Federal prosecutors disputed claims by Shohei Ohtani‘s former interpreter that he stole from the slugger to pay back massive gambling debts, saying there was no evidence he suffered from a gambling addiction before he started draining the Los Angeles Dodgers star’s bank account, according to court documents filed Thursday.

Ippei Mizuhara is due to be sentenced Feb. 6 after his June guilty plea. Last week, he asked U.S. District Judge John W. Holcomb for an 18-month sentence, instead of the nearly five years prosecutors seek. Mizuhara said he was…

IBBI chief Ravi Mital on Thursday said companies in India have not learnt how to use the insolvency law and pitched for efforts to ensure that more companies opt for the voluntary resolution process to increase productivity.

The Insolvency and Bankruptcy Code (IBC), which provides for a market-linked and time-bound resolution of stressed assets, came into force in 2016.

So far, most of the insolvency resolution processes have been initiated by creditors while in comparison voluntary applications have been less.

Speaking at a conference organised by industry body Assocham and accounting body CPA Australia in the national capital, Mital said creditors have recovered around Rs 3.6 lakh crore has been recovered by creditors under the IBC in…

Mumbai: A diverse group of companies including Adani Ports and Special Economic Zone, JSW Infrastructure, Horizon Industrial Parks and Transindia Real Estate Ltd have shown interest in acquiring listed supply chain and logistics infrastructure firm Arshiya Ltd, which is undergoing a corporate insolvency resolution process.Investors such as Authum Investment & Infrastructure Ltd, Dickey Alternative Investment Trust and Finquest Financial Solutions Pvt Ltd have also evinced interest in the company, said a person aware of the development. The company has admitted liabilities of over ₹6,647 crore, which includes about ₹3,082 crore from secured financial creditors and ₹3,544 crore from unsecured financial creditors.

Mumbai-based Arshiya…