Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Own A Share of Nirwana
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Own A Share of Nirwana

If You Have a Spare US$169 Million, You, Too, Can Own a Majority Share of the Le Meridien Nirwana Golf and Spa.


Bali News:
Click Image to Enlarge

(2/17/2007)

The financially troubled PT Bali Nirwana Resort, the owner of the Le Meridien Nirwana Golf and Spa, is seeking to sell 70.5% of its assets and debt valued at Rp. 1.54 trillion (approximately US$169.23 million).

According to the Indonesian-language Bisnis Indonesia, PT Perusahaan Pengelola Asset (PTPAA), a Government-owned company charged with sorting out the financial affairs of the Company, plans to sell the 70.5% share in the Resort within one year.

Seeking a Financial Consultant

According to the President Director of PTPAA, Mohammad Syahrial, financial and legal consultants are now being appointed to assist in the planned sale. PTPAA will reportedly also grant permission to the Resort to seek US$9 million in outside funding to undertake needed repairs and renovations at the Resort.

Control of 70.5% of the shares in the Resort was transferred to PTPAA from the Indonesian Bank Restructuring Agency (BPPN) when the owners defaulted on loans held to Indonesian banks. The remaining shares in the company are held by the family of Abdul Rizal Bakrie, Indonesia's Coordinating Minister for the People's Welfare.

A Fair Price?

Efforts four years ago by the Indonesian Bank Restructuring Agency (BPPN) to sell the 70.5% share in the Resort to a Japanese and Singapore consortium floundered when the investors failed to come to terms on price and various conditions of sale.

The proposed price of a 70.5% share of the Resort suggests that gross the value of the 100-hectare golf resort and 278-room hotel complex is US$ 240 million Ė a figure based on the owner's expectations and outstanding loans on the books incurred during the course of developing the property. Reportedly many potential investors are wary of the value placed on the Resort, claiming the PT BNR's asking price cannot be jutified by calculations based on the property's replacement value or its current income-generating potential.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Letting Off Some Steam
Latest Update: Mount Agung Eruption, Tuesday, November 21, 2017
(11/21/2017)
More Coin for Three Fountains
Badung Regency Installing Dancing Fountains at Three Major Public Monuments
(11/19/2017)
For Sale: 350 Bali Houses at Rp. 3 Billion Each
350-Unit Elite Housing Complex to be built in Tohpati, North Sanur, Bali by Waskita Karya Realty
(11/19/2017)
Indonesian Tourism Ė One Complex at a Time
Baliís ITDC Celebrates 44 Years of Developing Indonesian Tourism
(11/18/2017)
Time to Tango?
Solo Tango Orquesta to Appear at Padma Resort Legian, Bali on November 30, 2017
(11/19/2017)
Party on the Beach in Sanur
ARTOTEL to Open a Sanur Beach Club, Bali in December
(11/19/2017)
Bumble in Jungle
Four Villagers in Karangasem, Bali Suffer Attack by Jungle Bees
(11/19/2017)
Whatís the Buzz
Provincial Health Officials Warns Public to be on Guard Against Mosquito Bites that Cause Dengue Fever
(11/18/2017)
Counter Moves at Bali Airport
Bali Airport Adding 40 New Check-in Counters for IMF-World Bank Conference in 2018
(11/19/2017)
Major MICE Show Coming to Indonesia
DestinASEAN Meeting, Incentive, Convention and Exhibition Show in Tangerang, Indonesia April 9-10, 2018
(11/18/2017)
OTAs Asked to Pay their Fair Share in Taxes
Indonesian Hoteliers Want to Pressure International Online Travel Agents to Pay Sales Taxes.
(11/18/2017)
One Less Corrupt Official in Baliís North
Karangasem Official Collecting Illegal Levies from Tulamben Dive Operators Sent to Prison for One Year
(11/18/2017)
All [News]!