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 · Garuda to Convert Merpati Loans to Shares
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

Garuda to Convert Merpati Loans to Shares

Step Needed to Assist Cash-Strapped Carrier.


Bali News: Garuda to Convert Merpati Loans to Shares
Click Image to Enlarge

(5/24/2004)

According to statements made by Garuda Indonesia's (GA) President Director, Indra Setiawan, before Commission IV of the Parliament (DPR), his airline has agreed in principle to convert loans made to Merpati Nusantara Airlines (MZ) equal to Rp. 250 billion (approximately US$ 27.8 million) into mandatory convertible bond (MCB).

Equivalent to a capital investment in the company, the conversion will increase the current 7% stake held by GA in MZ. Just how many shares GA will net from the transaction is open to final negotiation with the Government Ė the other shareholder in MZ.

As reported at balidiscovery.com, MZ's current balance sheet reflects negative equity with debts totaling more than Rp. 1.3 trillion (approximately US$ 144.5 million) against assets worth only US$ 88.9 million.

Approval for the restructuring of MZ's finances via the conversion of debt to equity must receive final approval from the Agency for State Owned Enterprises (BUMN).

Once approval is in hand, MZ's management will then move forward with plans to find a new investor able to inject the estimated Rp. 1 trillion (approximately US$ 111 million) needed to put the airline on a sound financial footing.



© 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
Dry Brollies in Bali
Bali Weather Forecasters Predict Delayed Rains to Finally Fall in November
(10/27/2014)
In Bali Exquisite Music is Child's Play
Twice Weekly Performance of Ancient Balinese Music in Sanur Through February 1, 2015
(10/27/2014)
More is Less
More Warnings About the Disastrous Effects of Uncontrolled Growth in Bali Accommodation Sector
(10/27/2014)
Nusa Penida Conservation Fees to Increase
Klungkung Regency Plans to Increase Entrance Fees for Day Visitors to Nusa Penida by 1,070%
(10/27/2014)
A Failure to Deliver
CEO of Hotel Bali Kuta Residence Facing Trial for Fraudulent Property Deal
(10/27/2014)
Surf's Up
56-Year-Old Australian Dies While Surfing on Kuta Beach
(10/27/2014)
Keeping the Welcome Balinese
Deputy Governor Calls for More Balinese Signage at Airport and Other Key Locations
(10/27/2014)
This Place is for the Birds
Bali Bird Park Celebrates 19 Years of Operations with Special Offers and New Bird Exhibits
(10/27/2014)
Donít Look Now!
Baliís Iconic Panorama at Kintamani Vanishing Behind Illegal Buildings
(10/27/2014)
Baliís Flushed Away Success
3 of 4 Baliís Lakes Now Badly Polluted; Failure to Act Threatens Baliís Supply of Drinking Water
(10/27/2014)
Seeking Permission to Land
Malaysian Airline Flight Makes Emergency Diversion to Bali When Passenger Goes into Labor
(10/27/2014)
Murder at Bali Emerald Villas in Sanur, Bali
Long-Time Bali Resident Bob Ellis Murdered in What Police Believe was Murder-for-Hire Scheme Orchestrated by His Wife, Noor Ellis
(10/24/2014)
All [News]!