Wednesday, February 21, 2007

Texmaco's Prices

PT Cipta Raharja Investama has bid the assets of Texmaco Group at US$70 million, Bhakti Asset Management at US$45 million, and Amerasia International Ltd at US$10 million.

My source took the bid price is to low. But in the other side floor price for Texmaco Grup so high.

The State Assets Management Corporation has decided that there is no winner on the auction of the IDR29.37 trillion assets of Texmaco Group as the offering price has been lower than that required by the Ministry of Finance.

Of the three investors, Cipta Raharja is the only investor having no relationship with big group of company or high rank officials.

Some said Amerasia International belongs to Rini M. Soemarno, the former President Director of Astra Group and the Trade and Industry Minister of President Megawati Sukarnoputri. Behind Amerasia are Bakrie Group and Danatama Makmur, and some businessmen and high rank officials have been behind Danatama.

On the other hand, there are also some high ranking officials and businessmen behind Bhakti Asset Management.

The source has said that Bhakti Asset Management has been planned to handle the textile division of Texmaco, and Amerasia will handle the division of engineering. Behind Bhakti, there are Spinaker and Asia Debt Management, the creditor of PT Polysindo, a unit of Texmaco Group.

The most important quest is whats the option plan for solving the Texmaco Group problem ???

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