President to Issue Regulation on Land Acquisition This Month End
JAKARTA, Indonesia Today - Minister of Industry MS Hidayat is optimistic the President Regulation about Land Acquisition will be issued…
Court Validates Vastex PKPU, Escapes Bankruptcy
JAKARTA, Indonesia Today - Textile company PT Vastex Prima Industries escapes bankruptcy as the Central Jakarta Commercial Court has decided…
PLN to Spend Rp2.54 Trillion for Rural Electricity Program
JAKARTA, Indonesia Today - State-utility PT PLN will spend Rp2.54 trillion of fund allocated from State-Budget (APBN) this year to…
Metrodata to Raise Rp155 Billion from Rights Issue
JAKARTA, Indonesia Today - Electronics and ICT products retailer PT Metrodata Electronics Tbk (MTDL) announces on prospectus today it plans…
Three Gas Fields Commence Production
JAKARTA, Indonesia Today - Three gas fields with total potential production of 130 million metric cubic feet per day (mmscfd)…
Bank Permata Kicks Off Rp700 Billion Subdebt Issue
JAKARTA, Indonesia Today - PT Bank Permata Tbk (BNLI) announces on prospectus today it plans to issue subordinated bond (subdebt)…
Fitch Downgrades Greek Banks to 'CCC'
BARCELONA, Indonesia Today - Fitch Ratings has downgraded National Bank of Greece's, Efg Eurobank Ergasias', Alpha Bank's, Piraeus Bank's and…
Summarecon Books Rp1.65 Trillion Pre Marketing Sales
JAKARTA, Indonesia Today - Real-estate developer PT Summarecon Agung Tbk (SMRA) booked pre marketing sales of Rp1.65% it the first…
Basarnas Stops Evacuation Operation of Sukhoi’s Victims
JAKARTA, Indonesia Today – The National Search and Rescue Agency (Basarnas) has decided to stop the operation to evacuate all…
Tiger Airways Books $104 Million Losses
SINGAPORE, Indonesia Today - Tiger Airways Holdings Ltd, partner of Saratoga Investama in Mandala Airlines, posted net loss of $104.3…
Cardig Aero Q1 Profit Grows 27%
JAKARTA, Indonesia Today - PT Cardig Aero Services Tbk (CASS) booked net profit of Rp42.58 billion in the first quarter…
Mewah International Boosts Ownership in Indonesian Units
SINGAPORE, Indonesia Today - Mewah International Inc has increased its equity stake in subsidiaries in Indonesia, namely PT Mas Sejahtera,…
Latest News
Fitch Affirms Telkomsel at 'BBB'/'AAA(idn)'JAKARTA, Indonesia Today - Fitch Ratings has today affirmed Indonesia-based PT Telekomunikasi Selular's (Telkomsel) Long-Term Foreign and Local Currency Issuer De... Telco | Monday, 21 May 2012 Read more |
Fitch Affirms Bank Riau Kepri at 'A(idn)'JAKARTA, Indonesia Today - Fitch Ratings has affirmed PT Bank Pembangunan Daerah Riau Kepri's (Bank Riau Kepri) National Long-Term Rating at... Banking | Monday, 21 May 2012 Read more |
Fitch Upgrades BPD Maluku to 'A(idn)'JAKARTA, Indonesia Today - Fitch Ratings has today upgraded PT Bank Pembangunan Daerah Maluku's (Bank Maluku) National Long-Term Rating and se... Banking | Monday, 21 May 2012 Read more |
Astra Sedaya Financing Likely to Go Up to $200 MillionJAKARTA, Indonesia Today - The US$120 million three-year term loan for Astra Sedaya Finance is oversubscribed and may be increased to... Banking | Monday, 21 May 2012 Read more |
Templeton's Investment in Indonesia Declines to 5% in AprilFLORIDA, Indonesia Today - Templeton Global Income Fund invested 5% of its total net assets in Indonesia as of April 30... Stocks | Monday, 21 May 2012 Read more |
Pratt & Whitney Canada Signs 5-Year Service Agreement with Pacific Royale AirwaysMINNESOTA, Indonesia Today - Pratt & Whitney Canada SEA (P&WC SEA), located in Singapore, has signed a five-year Maintenance, Repair an... Transportation | Monday, 21 May 2012 Read more |
Nomura Research Establishes Representative Office in JakartaTOKYO, Indonesia Today - Nomura Research Institute Ltd. (NRI), a leading provider of consulting services and system solutions, today announces th... Internet | Monday, 21 May 2012 Read more |
Omedia Again Extends Megapower AcquisitionKUALA LUMPUR, Indonesia Today - Oriented Media Group Berhad (Omedia) extends its proposed acquisition of 85% equity interest in PT Me... Energy | Monday, 21 May 2012 Read more |
Interra's Goldpetrol Commences Drilling in MyanmarSINGAPORE, Indonesia Today - Interra Resources Limited, a company controlled by Indonesian tycoon Edwin Soeryadjaya, announces today that its jointly co... Energy | Monday, 21 May 2012 Read more |
JSW Steel Production Grows 10% in AprilSINGAPORE, Indonesia Today - JSW Steel Limited reported monthly crude steel production of 7.15 lacs tons for April 2012, with a ... Steel | Monday, 21 May 2012 Read more |
Tunas Ridean to Acquire Izusu DistributorJAKARTA, Indonesia Today - Car distributor and dealer PT Tunas Ridean Tbk (TURI) and its unit PT Tunas Mobilindo Parama pl... Automotive | Monday, 21 May 2012 Read more |
Surya Toto to Build Sanitary Factory This YearJAKARTA, Indonesia Today - Sanitary and plumbing company PT Surya Toto Indonesia Tbk (TOTO) intends to build new sanitary factory in... Stocks | Monday, 21 May 2012 Read more |
Zebra NUsantara to Acquire CNG DistributorJAKARTA, Indonesia Today - Transportation company PT Zebra Nusantara Tbk (ZBRA) plans to acquire a company, distributor of compressed natural gas... Transportation | Monday, 21 May 2012 Read more |
Mother of Hidayat Nur Wahid Passes AwayJAKARTA, Indonesia Today – Siti Rahayu, mother of Hidayat Nur Wahid, Jakarta governor candidate from the Prosperous Justice Party (PKS), ha... People | Monday, 21 May 2012 Read more |
Bank Riau Kepri Books Rp64 Billion Profit in Q1JAKARTA, Indonesia Today - Regional development bank PT Bank Riau Kepri reported profit after tax of Rp63.89 billion in the fi... Banking | Monday, 21 May 2012 Read more |
Bank Sulselbar Books Rp68 Billion Profit in Q1JAKARTA, Indonesia Today - Regional development bank PT Bank Sulawesi Selatan dan Barat (Sulselbar), formerly PT Bank Sulsel, posted consolidated pr... Banking | Monday, 21 May 2012 Read more |
BCA Targets Rp4 Trillion Loan for InfrastructureJAKARTA, Indonesia Today - PT Bank Central Asia (BCA) Tbk (BBCA) targets to loan Rp3-4 trillion for infrastructure sector in ... Banking | Sunday, 20 May 2012 Read more |
BI Rules on Rewards Restriction and Individual Ownership in BanksJAKARTA, Indonesia Today - Central bank Bank Indonesia (BI) releases policy direction for conventional banking this year, including the restriction ... Banking | Sunday, 20 May 2012 Read more |
Ratu Prabu Plans Rigths Issue in Q3JAKARTA, Indonesia Today - PT Ratu Prabu Energy Tbk (ARTI) plans to issue new shares through pre-emptive rights scheme in ... Stocks | Saturday, 19 May 2012 Read more |
Moody's Downgrades 16 Spanish BanksMADRID, Indonesia Today - Moody's Investors Service has today downgraded by one to three notches the long-term debt and deposit ra... Banking | Friday, 18 May 2012 Read more |
Suharto’s Grandson Fails to Show Up for Police SummonJAKARTA, Indonesia Today - Ari Haryo Wibowo Hardjojudanto, popular as Ari Sigit, grandson of the late president Soeharto and a su... People | Friday, 18 May 2012 Read more |
APP Announces New Policies on High Conservation Value ForestJAKARTA, Indonesia Today - Asia Pulp & Paper Group (APP) has announced its new High Conservation Value Forest policies to ev... Chemical | Thursday, 17 May 2012 Read more |
Zacks Investment: Indonesia, the Rising Star of AsiaCHICAGO, Indonesia Today - Emerging markets are an important part of the global economy and increasingly significant contributors to the gl... Stocks | Thursday, 17 May 2012 Read more |
Prisma Resources Deploys NetSuite Cloud Solution for Business EfficiencySAN FRANCISCO, Indonesia Today - NetSuite SuiteWorld 2012 -- NetSuite Inc., the industry's leading provider of cloud-based financials/ERP software suites, an... Mining | Thursday, 17 May 2012 Read more |
Indonesia Finance
PT Benakat Petroleum Energy Tbk (BIPI) plans to seek new loans to refinance its existing debts worth Rp894.8 billion to PT Indotambang Perkasa which will be expired inSeptember. The existing debts were used to acquire PT Elnusa shares.
Benakat has been negotiating with five institutions to get new loan.
“Apart from banks, we are also in talks with financial institutions. The negotiation is already half way from reaching a deal,” said Corporate Secretary of Benakat, Ferdinand Dion, was quoted by kontan.co.id on Wednesday (23/6). He said of the financial institutions, four are banks. Three of the four banks are foreign banks.
Apart from repaying existing loans, the new loans will be used to strengthen the company's working capital.
Benakat has earlier agreed to acquire 37.15 percent of Elnusa shares from Tridaya Esta. It has on March 12 paid Rp592.5 billion for acquiring 24.6-percent stake of Elnusa, while the remaining shares have yet to be purchased.
Benakat had on March 12 paid Rp 592.5 billion cash to PT Tridaya Esta (TDE) for 24.6 percent Elnusa stake. One of Benakat's shareholders funded that payment.
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