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 · BTDC Investing in Lombok
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

BTDC Investing in Lombok

Indonesian Lawmakers Make Funds Available to Keep 1,175 Hectare Tourism Development in South Lombok on Track.


Bali News:
Click Image to Enlarge

(3/2/2009)

The Indonesian House of Representatives (DPR) have approved a grant of Rp. 297 billion (US$25.2 million) for the PT Bali Tourism Development Corporation (BTDC) in connection with their ongoing joint venture in Lombok with the Timur Tengah Emaar Properties LLC.

As reported by Bisnis.com, the value of the DPR's grant represents the variance between the fair market value and the book value of the 1,175 hectare parcel of land held by PT BDTC in the Regency of Lombok Tengah. The land represents the 15% participation of PT BTDC in its joint venture with Emaar Properties.

The land parcel was once owned by the Lombok Tourism Development Corporation (LTDC) and held under receivership by the PT Perusahaan Pegelola Aset (PPA). Indonesia's Minister of Finance, Sri Mulyani, stated that the fair market value of the land is Rp. 557.6 billion (US$47.25 million) while the asset value acceptable to the investor is the book value of Rp. 260 billion (US$22 million).

According to the Finance Minister speaking before Commission XI of the DPR: "The variance of Rp. 297.6 billion is being called a 'grant.' This is necessary because any amount in excess of Rp. 100 billion can only be expended with the approval of the DPR (House of Representatives)."

Sri Mulyani told the press that the provision of the grant as an incentive to cover the value variance forms a part of the government's policy to attract foreign investors to Nusa Tenggara Barat. "The grant is an incentive given by the government in the form of a discount on the value of the land," explained Sri Mulyani, adding that she hoped the Emaar Properties project would bring other investment linkages which would allow the Lombok project to go ahead.

PT BDTC is the government-owned company that operates the Nusa Dua Complex in South Bali.


© 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
Fire in East Denpasar
Fire Destroys 7 Shop Houses in East Denpasar, Bali
(12/20/2014)
Mantra for Difficult Times
Australian Mantra Hotel Group Scales Down its Plans in Tough Bali Marketplace
(12/20/2014)
Be Prepared
Bali Identifies Areas at Risk of Natural Disaster and Maps Plans to Minimize Destruction
(12/20/2014)
When Sleighs Wonít Do
Bali Airport to Operate 134 Extra Flights Over Christmas and New Year Period
(12/20/2014)
When a Bay Becomes a Quagmire
Editorial: We Support Jakarta Globe Call for President Joko Widodo to Cancel the Benoa Bay Reclamation
(12/20/2014)
4.25 Million Foreign Tourists to Bali in 2015
Bali Seeks to Add 500,000 Tourist Visitors in 2015
(12/20/2014)
That Takes the Lot!
Baliís Tanah Lot Temple Experiencing a Record Number of Visitors Leader Up to Year End Piodalan Ceremony
(12/19/2014)
Shanghaied No More
Singaraja, Bali Immigration Office Deports 282 Foreign Workers in 2014
(12/19/2014)
Different Strokes Apply in Bali
Pendawa Beach Visitors in Bali Reminded that Sexual Activity and Swimming While Menstruating are Not Allowed
(12/19/2014)
Bali Non-Stop to Cairn, Australia
JetStar to Fly Direct Three Time a Week Cairns to Bali Flights Starting in March 2015
(12/19/2014)
Symphony of Feeling
Solo Exhibition of Paintings by Mochammad Toha Hasan, January 19 - March 12,2015 at Ganesha Gallery at Four Seasons Resort Bali at Jimbaran Bay
(12/19/2014)
Imagine That
Hard Rock Imagine a Better World and Raises Smile and Funds for Indonesian Children
(12/19/2014)
All [News]!