Close
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: Own A Share of Nirwana
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 – 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.


 
UBUD WRITERS & READERS FESTIVAL
 
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
Music that Heals
New Sanur-based Foundation Holds Fund-Raiser to Help People Stop Addiction and Rebuild Lives
(8/22/2014)
Arresting Drug Development
Denpasar Police Conduct Raids on Suspected Narcotics Dealers
(8/17/2014)
A Day and Night at the Museum
Morning Coffee at The Museum and Charity Dinner – August 30, 2014
(8/17/2014)
Kura Kura: New Local Travel Option in Bali
Bali Introduces New Kura Kura Shuttle Bus System for Tourist Visitors
(8/17/2014)
Bali Prepares to Fight Ebola
Classed as a Worldwide Epidemic by the WHO, Bali Puts Measures in Place to Handle Suspected Ebola Patients
(8/17/2014)
New Road for Tanjung Benoa?
Talks Continue on Construction of a Tanjung Benoa Ring Road in Bali’s South
(8/17/2014)
Leave it to a Professional
Tourism Leaders Call for their Next Minister to be Drawn from Circle of Professional Tourism Practitioners
(8/17/2014)
Mind Your “Qs” and “Pees”
Bali Tourism Transport Drivers Undergo Surprise Urinalysis
(8/17/2014)
Bless our Beasts
Bali Safari & Marine Park Seeks God’s Blessing on ‘Tumpek Kandang’ – a Day Dedicated to Animals
(8/17/2014)
Those in Peril on the Sea
2 Passengers Missing from Sunken Tourist Vessel Near Komodo Island
(8/17/2014)
Konnichiwa and Selamat Datang
Japanese Announce Visa-Free Policy for Indonesian Nationals; Indonesia Taking Steps to Reciprocate
(8/17/2014)
Medical Law and Ethics
World Association on Medical Law to Meet in Nusa Dua , Bali August 22-24, 2014
(8/17/2014)
All [News]!
 
Tourism and Transport Tourism Agents