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.


 
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
Plain Spoken about Tourism
President-elect Joko Widodo Speaks to Bali About Tourism
(9/1/2014)
Bali Training the World’s Green Leaders
UN Secretary Ban Ki-Moon Visits Bali’s Green School and Praises it Revolutionary Commitment to Sustainability
(9/1/2014)
Walk a Mile in Their Shoes
Macbeth Footwear Teams Up with Solemen to Donate Shoes for the Poor
(8/31/2014)
Gypsy at the Wheel
Widespread Violation of Laws on Taxi Meter Use Damaging the Reputation of Bali as a Tourism Destination
(9/1/2014)
It's a Jungle Out There
Denpasar Zoning and Building Authorities Falling Miserably in the Enforcement of the Law
(9/1/2014)
Tough Rules for Hotel Permits in Kuta, Bali
Bali Stops Hotels on Postage Stamp-Sized Pieces of Land in Kuta
(9/1/2014)
For Fans of Fantinel
Six Outstanding Courses and Paired Wines from Fantinel of Northeast Italy at Ju-Ma-Na Restaurant – Banyan Tree Ungasan, Bali on Friday, September 19, 2014
(8/31/2014)
A Park for Pedestrians
Pedestrian Underpass at Ngurah Rai Monument at Bali Airport Set to Open in Early 2015
(8/31/2014)
We've Got Rhythm!
Bali's Famous and Inspiring Kecak Dance Has a Rich and Varied History
(8/31/2014)
Run for Someone Else’s Life
14th Chapter of Hard Rock Hotel Bali Rock ‘N Run 5 Kilometer Fun Run Sunday, November 2, 2014
(8/31/2014)
In Style and Safety to Gili Trawangan
Bounty Cruises Mounts Luxury Daily Departures from Bali to Gili Trawangan
(8/29/2014)
In Urgent Need of Connections
PLTU Celukan Bawang Aiming to Start Producing Electrical Power for Bali in December 2014 - a Year Behind Schedule
(8/31/2014)
All [News]!
 
Tourism and Transport Tourism Agents