Maryono, Head of Bank Mandiri, Jakarta Region appointed by government to be a new leader of PT Bank Century Tbk. Sinarmas Group cancel the plan for the takeover of 70 percent of Bank Century.
Up to September, 55.88 percent of the bank shares are owned by public. Meanwhile, the rests are owned by five institutions including Clearstream Banking S.A. Luxembourg (11,15%), First Gulf Asia Holding Ltd (9,55%), PT Century Megainvestindo (9%), PT Antaboga. Deltasekuritas (8,78%), and PT Century Super Investindo (5,64%).
The BCIC stock exchange is suspended with the last position of IDR50.
Friday, November 21, 2008
Tuesday, November 18, 2008
Broker of Bahana detained for hoaxing bank liquidity
National Police Headquarter detained staffer of PT Bahana Securities Erick Jazier Adriansjah concerning with the hoax information on the liquidity constraints of five banks in Indonesia.
He was found guilty for disseminating misleading issues on the liquidity constraints faced by PT Bank Artha Graha Internasional Tbk, PT Bank Bukopin Tbk, PT Bank CIC Internasional Tbk, PT Bank Panin Tbk, and PT Bank Victoria.
Bahana Securities was founded in 1993 in which 100 percent of the shares was owned by PT Bahana Pembinaan Usaha Indonesia and becomes the member of the IDX.
Erick violated Article 27 Item (3) or Article 28 Item (1) of the Law No. 11/2008 on the electronic transaction and information. The investigators keep probing the case on whether or not it was done alone or involving other party.
The email was received by the employee of Bank Panin Wirianto from Chris email located in Singapore under his account of christophorus.soemijantoro@barclayscapital.com, 13 November 2008 at 16.59 WIB.
He was found guilty for disseminating misleading issues on the liquidity constraints faced by PT Bank Artha Graha Internasional Tbk, PT Bank Bukopin Tbk, PT Bank CIC Internasional Tbk, PT Bank Panin Tbk, and PT Bank Victoria.
Bahana Securities was founded in 1993 in which 100 percent of the shares was owned by PT Bahana Pembinaan Usaha Indonesia and becomes the member of the IDX.
Erick violated Article 27 Item (3) or Article 28 Item (1) of the Law No. 11/2008 on the electronic transaction and information. The investigators keep probing the case on whether or not it was done alone or involving other party.
The email was received by the employee of Bank Panin Wirianto from Chris email located in Singapore under his account of christophorus.soemijantoro@barclayscapital.com, 13 November 2008 at 16.59 WIB.
Bank Sinarmas & Bank Century to be merged
PT Bank Sinarmas and PT Bank Century Tbk is predicted to merge following the acquisition of PT Sinar Mas Multiartha Tbk of the 70 percent of Bank Century shares.
The acquisition shows the similarity of business culture of the two banks in a bid to improve the bank performance along with the soaring assets and networks values.
The acquisition here will assumingly affect the business group ownership at Bank Sinarmas. BI has stipulated the ultimate shareholder to merge their own banks.
Managing director of Sinarmas Group Gandi Sulistiyanto claimed to wait for the due diligence process in this corporate action.
The acquisition shows the similarity of business culture of the two banks in a bid to improve the bank performance along with the soaring assets and networks values.
The acquisition here will assumingly affect the business group ownership at Bank Sinarmas. BI has stipulated the ultimate shareholder to merge their own banks.
Managing director of Sinarmas Group Gandi Sulistiyanto claimed to wait for the due diligence process in this corporate action.
Semai Battle
The Minister of Energy and Mineral Resources and State Minister for State-owned Enterprise have different opinions on Pertamina's loss in the regular tender for oil and gas working area in Semai V, Papua.
Minister of Energy and Mineral Resources Purnomo Yusgiantoro said state oil company Pertamina's loss could be attributed to the fact the share ownership of Pertamina's partner (Shell) in the project consortium was far larger.
In Semai V, Pertamina establishes a consortium with Shell. Therefore, Hess was declared as the winner in Semai V not because Hess offered a larger bonus of US$35 million.
But, the State Ministry for State-owned Enterprise viewed technically Pertamina should win since it gave a better offer.
According to him, the Department of Energy and Mineral Resources should give priority to state-owned enterprises instead to foreign companies.
Minister of Energy and Mineral Resources Purnomo Yusgiantoro said state oil company Pertamina's loss could be attributed to the fact the share ownership of Pertamina's partner (Shell) in the project consortium was far larger.
In Semai V, Pertamina establishes a consortium with Shell. Therefore, Hess was declared as the winner in Semai V not because Hess offered a larger bonus of US$35 million.
But, the State Ministry for State-owned Enterprise viewed technically Pertamina should win since it gave a better offer.
According to him, the Department of Energy and Mineral Resources should give priority to state-owned enterprises instead to foreign companies.
Syahrial and Raden are the PPA commissioners
State Enterprise Ministry inaugurated new PPA president director Boyke Mukijat replacing Mohammad Syahrial after his resignation.
PPA vice president director Raden Pardede was inaugurated as the PPA chief commissioner together with Syahrial as the commissioner.
Raden Pardede is the PPA chief commissioner assisted by Syahrial, Sahala Lumban Gaol, and Adiwoso.
Sahala is currently the deputy minister of State Enterprise for Mining, Strategy Industry, Energy and Telecommunication.
PPA vice president director Raden Pardede was inaugurated as the PPA chief commissioner together with Syahrial as the commissioner.
Raden Pardede is the PPA chief commissioner assisted by Syahrial, Sahala Lumban Gaol, and Adiwoso.
Sahala is currently the deputy minister of State Enterprise for Mining, Strategy Industry, Energy and Telecommunication.
Thursday, November 13, 2008
Farid Harianto handle Indover
Bank Indonesia (BI) has appointed the former official of the Indonesian Banks Restructuring Agency (BPPN) Farid Harianto becomes team leader to handle the Indover case for fair resolution.
The team will represent BI to as the Indover shareholder to deal with all parties both domestic and international ones.
Since 10 November 2008, Farid Harianto has been appointed as the BI Governors advisor with special task to assist BI to find the best solution to all parties. The measure is expected to provide certainty and Indover resolution.
Farid formerly was the deputy head of BPPN to help disburse liquidity or so-called BI Liquidity Bank Assistance (BLBI) for some almost-collapse banks.
Indover was suspended by the Dutch court on October 7, 2008, after the liquidity constraint of the bank a day before following the global crisis. Indover rescue plan needs some IDR7 trillion bailout fund.
But, BI with 100 percent share ownership of Indover eventually decided not to inject any fund here. the government even claimed not to have any link with Indover case.
In fact, some domestic banks have exposures at Indover. Bank Mandiri has US$31 million exposures, BRI US$60 million, BNI US$27 million, Bank Ekonomi about 19,000 euros, Bank Artha Graha 107,890 euros, Bank Lippo US$5 million, and Bank Bukopin US$15 million.
The team will represent BI to as the Indover shareholder to deal with all parties both domestic and international ones.
Since 10 November 2008, Farid Harianto has been appointed as the BI Governors advisor with special task to assist BI to find the best solution to all parties. The measure is expected to provide certainty and Indover resolution.
Farid formerly was the deputy head of BPPN to help disburse liquidity or so-called BI Liquidity Bank Assistance (BLBI) for some almost-collapse banks.
Indover was suspended by the Dutch court on October 7, 2008, after the liquidity constraint of the bank a day before following the global crisis. Indover rescue plan needs some IDR7 trillion bailout fund.
But, BI with 100 percent share ownership of Indover eventually decided not to inject any fund here. the government even claimed not to have any link with Indover case.
In fact, some domestic banks have exposures at Indover. Bank Mandiri has US$31 million exposures, BRI US$60 million, BNI US$27 million, Bank Ekonomi about 19,000 euros, Bank Artha Graha 107,890 euros, Bank Lippo US$5 million, and Bank Bukopin US$15 million.
San Miguel offer sweetener to buy Bumi
San Miguel Corp, the Philippines largest food and beverage company, offered sweetener to Bakrie Family to acquire 51 percent of PT Bumi Resources shares.
They were ready to realize their acquisition of Bumi by the end of the month. The Philippine company also said they would be willing to buy Bumi shares despite the fact the status of the shares had yet been free and clear following repurchase agreement (repo) transaction.
San Miguel planned to acquire 51 percent of Bumi shares from Bakrie Group with the price offer which is not too much different from that of offered to the Northstar Pacific.
On the transaction, Northstar offered US$1.3 billion under an exclusive agreement.
Tata Group also has never given up as it offered US$480 million for 35 percent of Bumi shares amidst the falling Bumi shares.
They were ready to realize their acquisition of Bumi by the end of the month. The Philippine company also said they would be willing to buy Bumi shares despite the fact the status of the shares had yet been free and clear following repurchase agreement (repo) transaction.
San Miguel planned to acquire 51 percent of Bumi shares from Bakrie Group with the price offer which is not too much different from that of offered to the Northstar Pacific.
On the transaction, Northstar offered US$1.3 billion under an exclusive agreement.
Tata Group also has never given up as it offered US$480 million for 35 percent of Bumi shares amidst the falling Bumi shares.
Limitless acquires Bakrieland stocks
Limitless has finalized the acquisition of 10 percent -15 percent of PT Bakrieland Development Tbk shares owned by PT Bakrie & Brothers Tbk.
The stock price of Bakrieland is negotiated to be at IDR200 per share. Referring to the latest Bakrieland finance report in September 2008, the corporate book value stands at IDR214,81.Bakrieland listed stocks are about 19.91 billion. With the 15 percent acquisition and par value of IDR200, the transaction value will stand at IDR3.98 trillion. Now, Bakrieland seeks exchange bond issuance option to absorb some IDR1 trillion fund from the Avenue Luxembourg SARL.
Avenue last month increased total share ownership at Bakrieland turns into 30.76 percent as from 15.45 percent. Bakrieland stock closing transaction had been done a month before.
Bakrieland has got US$110 million funding commitment from Limitless plus IDR1 trillion from Avenue and IDR750 billion internal cash. The total cash commitment for Bakrieland is worth IDR2.85 trillion.
The fund here after reduced by the stock buyback worth IDR510 billion is enough to cover the corporate projects finalization up to end of 2009.
The stock price of Bakrieland is negotiated to be at IDR200 per share. Referring to the latest Bakrieland finance report in September 2008, the corporate book value stands at IDR214,81.Bakrieland listed stocks are about 19.91 billion. With the 15 percent acquisition and par value of IDR200, the transaction value will stand at IDR3.98 trillion. Now, Bakrieland seeks exchange bond issuance option to absorb some IDR1 trillion fund from the Avenue Luxembourg SARL.
Avenue last month increased total share ownership at Bakrieland turns into 30.76 percent as from 15.45 percent. Bakrieland stock closing transaction had been done a month before.
Bakrieland has got US$110 million funding commitment from Limitless plus IDR1 trillion from Avenue and IDR750 billion internal cash. The total cash commitment for Bakrieland is worth IDR2.85 trillion.
The fund here after reduced by the stock buyback worth IDR510 billion is enough to cover the corporate projects finalization up to end of 2009.
Friday, November 7, 2008
XL signed a US$ 140 million Syndicated Loan
PT Excelcomindo Pratama Tbk (XL) has signed a USD 140 million 3 Year Syndicated Term Loan Facility with a group of 4 banks on 6th November 2008. The Facility is arranged by DBS Bank Ltd, Economic Development Canada, The Bank of Tokyo-Mitsubishi UJF, and Chinatrust Commercial Bank, Ltd. In conjunction with the Facility, PT DBS Bank Indonesia will also act as the Facility Agent.
The proceeds from the Facility will be used to finance the Company’s capital expenditures, working capital requirements and for general corporate purposes.
XL is a major cellular provider in Indonesia and majority owned by TM International Bhd through Indocel Holding Sdn Bhd (83.8%), the remaining stakes are held by Emirates Telecommunications Corporation (Etisalat) International Indonesia Ltd., a wholly owned subsidiary of Etisalat (16%), and the public (0.2%).
XL owns an extensive fiber optic backbone network. Started its commercial operations in October 1996, XL’s business consists of Consumer Solutions as triple band (900/1800/1900) cellular network and service provider and Business Solutions as corporate service provider. On 21 September 2006, XL launched XL 3G, the first
The proceeds from the Facility will be used to finance the Company’s capital expenditures, working capital requirements and for general corporate purposes.
XL is a major cellular provider in Indonesia and majority owned by TM International Bhd through Indocel Holding Sdn Bhd (83.8%), the remaining stakes are held by Emirates Telecommunications Corporation (Etisalat) International Indonesia Ltd., a wholly owned subsidiary of Etisalat (16%), and the public (0.2%).
XL owns an extensive fiber optic backbone network. Started its commercial operations in October 1996, XL’s business consists of Consumer Solutions as triple band (900/1800/1900) cellular network and service provider and Business Solutions as corporate service provider. On 21 September 2006, XL launched XL 3G, the first
Thursday, November 6, 2008
San Miguel Seeks to Buy 51% of Bumi
San Miguel Corp., the largestPhilippine food and drinks company, said it wants to buy at least
51 percent of PT Bumi Resources, Asia's largest exporter of power-station coal.
Manila-based San Miguel made the announcement today in a statement to the Philippine Stock Exchange, The Philippine company said yesterday that it will make acompeting bid for Bumi after the exporter's parent, BT Bakrie & Brother, agreed to sell its stake to Northstar Equity Partners for $1.3 billion to repay debt.
San Miguel is seeking to expand into the faster-growing energy, property and mining sectors in a bid to boost earnings. The company said last month that it also wants to buy shares in Petron Corp. and Manila Electric Co., the largest Philippine oil refiner and power distributor.
51 percent of PT Bumi Resources, Asia's largest exporter of power-station coal.
Manila-based San Miguel made the announcement today in a statement to the Philippine Stock Exchange, The Philippine company said yesterday that it will make acompeting bid for Bumi after the exporter's parent, BT Bakrie & Brother, agreed to sell its stake to Northstar Equity Partners for $1.3 billion to repay debt.
San Miguel is seeking to expand into the faster-growing energy, property and mining sectors in a bid to boost earnings. The company said last month that it also wants to buy shares in Petron Corp. and Manila Electric Co., the largest Philippine oil refiner and power distributor.
Battle to buy Bumi
Some 35 percent of PT Bumi Resources Tbk shares remains open to other buyers acquisition despite the underway negotiation of Northstar Pacific Partners Ltd and PT Bakrie & Brothers Tbk.
San Miguel Corp, the Philippines largest food and beverage company, claimed to make other offer for the 35 percent of Bumi shares as its business diversification.
Tata Group also expresses its interest to acquire Bumi but with tender offer price starting from US$800 million or under Northstar price offer.
Bakrie Group plan to disposes a 35.25% stake or 6.84 billion shares in PT Bumi Resources Tbk to a special purpose vehicle for US$1 billion. So who is the winner ????
By ethics, if you have sign conditional sales and purchase agreement, its exclusif deal for certain period. So......
San Miguel Corp, the Philippines largest food and beverage company, claimed to make other offer for the 35 percent of Bumi shares as its business diversification.
Tata Group also expresses its interest to acquire Bumi but with tender offer price starting from US$800 million or under Northstar price offer.
Bakrie Group plan to disposes a 35.25% stake or 6.84 billion shares in PT Bumi Resources Tbk to a special purpose vehicle for US$1 billion. So who is the winner ????
By ethics, if you have sign conditional sales and purchase agreement, its exclusif deal for certain period. So......
Boyke Mukijat becomes the PPA CEO
State Enterprise Minister Sofyan Djalil appointed the president director of PT Bahana Pembinaan Usaha Indonesia (BPUI) Boyke Mukijat to fill up the vacant post of president director for the Asset Management Company (PPA).
Formerly there were five names nominated as the president director of PPA. But most of them refuted to fill the post due to many reasons. The other four includes Rizal Gozali, Edgar Ekaputra Sujanto, Ignatius Jonan, dan Ridha Wirakusumah.
Up to Monday, this week, Boyke Mukijat competed against Rizal Gozali who is now the President Director of PT Credit Suisse Indonesia.
Formerly there were five names nominated as the president director of PPA. But most of them refuted to fill the post due to many reasons. The other four includes Rizal Gozali, Edgar Ekaputra Sujanto, Ignatius Jonan, dan Ridha Wirakusumah.
Up to Monday, this week, Boyke Mukijat competed against Rizal Gozali who is now the President Director of PT Credit Suisse Indonesia.
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