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President to Issue Regulation on Land Acquisition This Month End

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…

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Court Validates Vastex PKPU, Escapes Bankruptcy

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…

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PLN to Spend Rp2.54 Trillion for Rural Electricity Program

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…

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Metrodata to Raise Rp155 Billion from Rights Issue

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…

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Three Gas Fields Commence Production

Three Gas Fields Commence Production 

JAKARTA, Indonesia Today - Three gas fields with total potential production of 130 million metric cubic feet per day (mmscfd)…

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Bank Permata Kicks Off Rp700 Billion Subdebt Issue

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)…

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Fitch Downgrades Greek Banks to 'CCC'

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…

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Summarecon Books Rp1.65 Trillion Pre Marketing Sales

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…

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Basarnas Stops Evacuation Operation of Sukhoi’s Victims

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…

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Tiger Airways Books $104 Million Losses

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…

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Cardig Aero Q1 Profit Grows 27%

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…

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Mewah International Boosts Ownership in Indonesian Units

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,…

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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

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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

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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

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Astra Sedaya Financing Likely to Go Up to $200 Million

JAKARTA, 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

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Templeton's Investment in Indonesia Declines to 5% in April

FLORIDA, Indonesia Today - Templeton Global Income Fund invested 5% of its total net assets in Indonesia as of April 30...

Stocks | Monday, 21 May 2012

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Pratt & Whitney Canada Signs 5-Year Service Agreement with Pacific Royale Airways

MINNESOTA, 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

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Nomura Research Establishes Representative Office in Jakarta

TOKYO, Indonesia Today - Nomura Research Institute Ltd. (NRI), a leading provider of consulting services and system solutions, today announces th...

Internet | Monday, 21 May 2012

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Omedia Again Extends Megapower Acquisition

KUALA LUMPUR, Indonesia Today - Oriented Media Group Berhad (Omedia) extends its proposed acquisition of 85% equity interest in PT Me...

Energy | Monday, 21 May 2012

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Interra's Goldpetrol Commences Drilling in Myanmar

SINGAPORE, Indonesia Today - Interra Resources Limited, a company controlled by Indonesian tycoon Edwin Soeryadjaya, announces today that its jointly co...

Energy | Monday, 21 May 2012

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JSW Steel Production Grows 10% in April

SINGAPORE, 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

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Tunas Ridean to Acquire Izusu Distributor

JAKARTA, Indonesia Today - Car distributor and dealer PT Tunas Ridean Tbk (TURI) and its unit PT Tunas Mobilindo Parama pl...

Automotive | Monday, 21 May 2012

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Surya Toto to Build Sanitary Factory This Year

JAKARTA, Indonesia Today - Sanitary and plumbing company PT Surya Toto Indonesia Tbk (TOTO) intends to build new sanitary factory in...

Stocks | Monday, 21 May 2012

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Zebra NUsantara to Acquire CNG Distributor

  JAKARTA, Indonesia Today - Transportation company PT Zebra Nusantara Tbk (ZBRA) plans to acquire a company, distributor of compressed natural gas...

Transportation | Monday, 21 May 2012

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Mother of Hidayat Nur Wahid Passes Away

JAKARTA, Indonesia Today – Siti Rahayu, mother of Hidayat Nur Wahid, Jakarta governor candidate from the Prosperous Justice Party (PKS), ha...

People | Monday, 21 May 2012

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Bank Riau Kepri Books Rp64 Billion Profit in Q1

JAKARTA, 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

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Bank Sulselbar Books Rp68 Billion Profit in Q1

JAKARTA, Indonesia Today - Regional development bank PT Bank Sulawesi Selatan dan Barat (Sulselbar), formerly PT Bank Sulsel, posted consolidated pr...

Banking | Monday, 21 May 2012

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BCA Targets Rp4 Trillion Loan for Infrastructure

JAKARTA, Indonesia Today - PT Bank Central Asia (BCA) Tbk (BBCA) targets to loan Rp3-4 trillion for infrastructure sector in ...

Banking | Sunday, 20 May 2012

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BI Rules on Rewards Restriction and Individual Ownership in Banks

JAKARTA, Indonesia Today - Central bank Bank Indonesia (BI) releases policy direction for conventional banking this year, including the restriction ...

Banking | Sunday, 20 May 2012

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Ratu Prabu Plans Rigths Issue in Q3

JAKARTA, Indonesia Today - PT Ratu Prabu Energy Tbk (ARTI) plans to issue new shares through pre-emptive rights scheme in ...

Stocks | Saturday, 19 May 2012

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Moody's Downgrades 16 Spanish Banks

MADRID, 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

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Suharto’s Grandson Fails to Show Up for Police Summon

JAKARTA, Indonesia Today - Ari Haryo Wibowo Hardjojudanto, popular as Ari Sigit, grandson of the late president Soeharto and a su...

People | Friday, 18 May 2012

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APP Announces New Policies on High Conservation Value Forest

JAKARTA, Indonesia Today - Asia Pulp & Paper Group (APP) has announced its new High Conservation Value Forest policies to ev...

Chemical | Thursday, 17 May 2012

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Zacks Investment: Indonesia, the Rising Star of Asia

CHICAGO, Indonesia Today - Emerging markets are an important part of the global economy and increasingly significant contributors to the gl...

Stocks | Thursday, 17 May 2012

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Prisma Resources Deploys NetSuite Cloud Solution for Business Efficiency

SAN 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

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Indonesia Finance

Largest aircraft maintenance in Indonesia PT Garuda Maintenance Facility (GMF) mulls a plan to float its shares on the Indonesian Stock Exchange after its holding company, PT Garuda Indonesia, listed its shares, Bisnis Indonesia reported.

GMF hoped to initial public offering (IPO) would be made in 2013.
 
“There is an intention from the company to float its subsidiary shares to public. Possibly, it will be made in 2013 after Garuda complete its share sale to public,” said CFO Garuda Elisa Lumbantoruan.
 
Elisa said the IPO proceeds will be used for business expansion.
 
GMF AeroAsia started out in 1949 as the technical division of Garuda Indonesia Airlines, acting as Garuda’s sole aircraft maintenance provider.In 1984, Garuda Indonesia transformed its division into the Garuda Maintenance Facility Support Center to maximize its role and contribution.
 
Subsequently, the support center developed into a Strategic Business Unit (SBU) called SBU-GMF. It was still under Garuda but had autonomy to manage its financial and human resources.
 
Its spin-off from Garuda Indonesia in April 2002 honed GMF AeroAsia’s competitive edge. Today GMF AeroAsia is able to service its clients and is recognized as operating one of the best and biggest aircraft maintenance, repair and overhaul facilities in Southeast Asia.

More articles :

» PLN to Develop Solar Power Plant

 JAKARTA, Indonesia Today - State-utility PT PLN intends to develop 2.2 gigawatts of Solar Power Plant (PLTS) for the next 13 years.

» Panax, Petrogas Sign MOU for Geothermal Exploration in Sumatera

Theindonesiatoday.com - Panax Geothermal Limited (Panax) is pleased to advise of the signing of the Memorandum of understanding (MoU) with government owned power company PT Petrogas Jambi Power to start exploration on what will be Panax’s...

» Perdana Gapura to Raise Rp700 Billion via Rights Issue

Property firm PT Perdana Gapuraprima Tbk (GPRA) said it plans to launch the rights issue in October to raise the proceeds of Rp700 billion.

» IDX slips 0.18%

IDX composite index declined slightly by 0.18% to 2939 Tuesday. It is better than Shanghai, which lost 2%, or Hang Seng (-1.51%). 

» Indonesia to Implement Reciprocity Principle in Banking Sector

Theindonesiatoday.com - Bank Indonesia is ready to implement reciprocity principle on foreign banks operating in Indonesia as Indonesian banks found difficulties to expand their operations in other countries.

» Mitrabahtera Kicks Off Stocks Trading

Theindonesiatoday.com - PT Mitrabahtera Segarasejati (MBSS) Tbk kicks off trading of its stocks on the Indonesia Stock Exchange (IDX) this morning.

» Bakrie Enters Into Another Repo Deal

Theindonesiatoday.com - PT Bakrie & Brothers (BNBR) Tbk has entered into a sale and repurchase facility worth US$25.9 million with fund management companies.

» Jababeka to Raise Rp1.5 Trillion via Rights Issue

Theindonesiatoday.com - Industrial estate developer PT Jababeka Tbk (KIJA) plans to issue new shares through pre-emptive rights scheme, to raise Rp1.5 trillion fund, Bisnis Indonesia reported this morning.

» Indofood Eyes 15.6% Sales Growth, Dividend Rp1.16 trillion

Theindonesiatoday.com - PT Indofood Sukses Makmur Tbk (INDF) targets to book net sales of Rp44.39 trillion this year, increased 15.6% from Rp38.4 trillion last year, Bisnis Indonesia reported this morning.

» Freeport Workers on Strike, Demand Higher Wages

Theindonesiatoday.com - More than 8,000 workers of PT Freeport Indonesia launch a week-long strike, demanding higher wages and the severance of Chairman of Freeport Union Workers, Sudiro.

» Trada Maritime Secures US$50 Mln Loans for FSO Project

Shipping company PT Trada Maritime Tbk (TRAM) said that it has secured loan facility from International Finance Corporation (IFC) and The Bank of Tokyo Mitsubishi UFJ, Ltd (Jakarta branch) worth US$50 million.

» Ashburton Commences Obi Gold Project, Maluku

Theindonesiatoday.com - ASX-listed Ashburton Minerals Ltd announces today it has commenced diamond drilling at Obi Gold project in Indonesia.

» Kao Indonesia Builds New Plant in Kerawang

TOKYO, Indonesia Today - PT Kao Indonesia Chemicals is constructing a new production plant at Karawang International Industry City (KIIC), West Java and expects to be operated by January 2013.

» Pefindo Assigns BRI Rating at AAA

Theindonesiatoday.com - Indonesia credit rating Pefindo assigned its rating on PT Bank Rakyat Indonesia Tbk (BBRI) at "AAA" with stable outlook.

» Wilmar Completes Sucrogen Acquisition, Stocks Fall 4.4%

Theindonesiatoday.com - Wilmar International Limited has completed the acquisition of 100% shares of Sucrogen Limited for US$1.835 billion. The stock dropped 4.4% on Singapore Stock Exchange (SGX) this morning.

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