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 · Bali's Sahid Raya to Close in Early 2008
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

Bali's Sahid Raya to Close in Early 2008

Sahid Group to Build Mixed-Use Hotel, Apartment and Shopping Complex on its 5 Hectare Kuta Beachfront Site.


Bali News: Bali's Sahid Raya to Close in Early 2008
Click Image to Enlarge

(11/19/2007)

Bisnis Indonesia reports that the Sahid Group plans to disinvest 65% of its ownership in its 5 hectare hotel development on Bali's Kuta beach to raise funds and make way for a large mixed-use complex including a hotel, apartment complex, mall and offices.

In an announcement made by the Chairman and President of the Sahid Group, Sukamdani S. Gitosardjono said that he would retain only 35% of his shares in the Hotel Sahid Raya Bali with the remainder being sold to new investors in the proposed "super block."

The Kuta project, according to Sukamdani, is part of a restructuring of the entire Sahid Group and the chain of hotels they operate across the Country. The details of the entire restructuring program will be announced to the shareholders of the Sahid Group, the Indonesian Stock exchange and the public in March 2008.

While refusing to more specific on the cost and extent of the proposed Kuta "super block," the Sahid Group Chairman said that a potential domestic investor had been identified.

Sahid Raya to Close in Early 2008

Sukamdani told Bisnis Indonesia that the Sahid Raya would close its doors in early 2008 to permit the commencement of massive construction project.

Saying "now is the time to rebuild," Sukamdani said he preferred owning 35% of a company with the strong financial structure than to own 100% of a company with limited financial capabilities.


© 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
And the Winner Is . . . .
Joko Widodo and Jusuf Kalla Declared Winners of Presidential and Vice-Presidential Race. Prabowo Subianto Takes Legal Steps to Challenge Election Results.
(7/25/2014)
If this is Tuesday, it Must be Bali!
Design Expert Explores Ways to Enforce Rules Mandating Balinese Style Architecture and Finishes in all Building Projects
(7/25/2014)
Endless Summer
Australian Man Found Dead in Kuta Hotel Room
(7/25/2014)
Red Glare on Bali’s East Coast
Fire Destroys One Villa at Amankila
(7/25/2014)
When High Season Becomes Shoulder Season
Hotels and Villas in Bali Claim Occupancies for July-August 2014 are Down by as much as 15%
(7/25/2014)
Holding Meetings in Bali to Steal Funds
Foreign Affair Official Sentenced to Prison for Corruption of International Meeting Funds dedicated to Bali
(7/25/2014)
Cooking in the Middle Kingdom
St. Regis Kayuputi Culinary Team Represented Indonesia at Bocuse d’Or Asia Pacific in Shanghai
(7/25/2014)
Pausing for a 'Cuppa' Before Take-Off
Government Does Surprise Drug Screening of Domestic Pilots at Bali Airport
(7/25/2014)
Have You Been to Bali, Too??
Bali by the Numbers: Bali on Pat to Welcome 3.75 million Foreign Visitors in 2014
(7/25/2014)
A 15-year Impasse
French Drug Courier Gets 15 Year Prison Sentence in Bali
(7/25/2014)
Rising Costs Dent Garuda’s Finances
Garuda Loses US$211 million in First Half of 2014
(7/25/2014)
Mellow is the Night in Ubud
Jazz musician Deborah Carter set to perform at Uma by COMO in Ubud on August 10, 2014
(7/25/2014)
All [News]!
 
Tourism and Transport Tourism Agents