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 · Acquiring the Keys to 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

Acquiring the Keys to Nirwana

MNC Group Looking to Finance 100% Stake in Pan Pacific Nirwana Resort at Tanah Lot


Bali News: Acquiring the Keys to Nirwana
Click Image to Enlarge

(9/23/2013)

The PT MNC Group is reported to be in search of loans that would allow it to become the sole proprietor of PT Bali Nirwana Resort – a golf and resort facility in Bali near Pura Tanah Lot operated by Pan Pacific Hotels.

PT Media Nusantara Citra’s (PT MNC Group) core business is comprised of 3 Free-to-Air television channels – RCTI, MNCTV and GlobalTV – together with 16 channels created and produced by MNC that is broadcasted on Pay-TV.

The Jakarta Post (Bali Daily) quoted MNC Land director Daniel Yuwono who explained that MNC needs around Rp. 1 trillion (US$89.84 million) to acquire the entire hotel and recreational complex.

The remaining stake in the property is owned in its by PT Bakrieland Development headed by Indonesian presidential hopeful Aburizal Bakrie.

Yuwono added: “The company will use funds from the recent rights issue and seek loans to plug the remaining financial needs."

MNC Land, controlled by media tycoon Hary Tanoesoedibjo, successfully raised Rp 2.18 trillion via the sale of new shares in a rights issue. 



MNC Land signed a sales agreement on July 25, 2013 in which they purchased a 19.09% share of the Bali Nirwana property for Rp. 326,33 billion. A subsequent agreement signed on August 2, 2013, provided for the acquisition of an additional 25% share of the property for Rp. 427.54 billion.

The funds needed to satisfy the two agreements were provided from a rights issue that is subject to final shareholder approval.

A third agreement signed on August 2, 2013 provides for the purchase of the remaining 55.91% of the Bali property, with provisions allowing payment over a 12 month period that will require an estimated Rp. 956 billion to consummate.

Bali Nirwana reported revenues of Rp. 62.47 billion over the first five months of 2013 resulting in a net loss of Rp. 37.85 billion for the same period.

Bali Nirwana ended 2012 with a net loss of Rp. 206.68 billion, a retreat from the Rp, 33.22 billion net profit booked in 2011. A downturn in total revenues to only 157.77 billion in 2012, as compared to Rp. 189.5 billion in 2011 – played a major role in the move from profitability to loss.

The company’s balance sheet show total assets for the Nirwana Resort of Rp. 824.1 billion.


© 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