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 · Merpati to Begin Auctioning its Assets?
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

Merpati to Begin Auctioning its Assets?

State Owned Indonesian Airline Hopes to Survive as it Faces Growing Debt and Greater Competition.


Bali News:
Click Image to Enlarge

(1/16/2006)

An Indonesian State-owned bank - Bank Mandiri has formally asked the State-Owned Airline Merpati Nusantara to begin liquidating assets in order to serve debts owed the bank.

According to a report in the Indonesian-language Bisnis Indonesia, the Airlines indebtedness to Bank Mandiri has now reached Rp. 194 billion (approximately US$19.4 million). The same report states that the Airline had been unable to meet its obligations to the Bank dating from November 2004, incurring Rp. 21 billion (approximately US$2.1 million) in additional interest charges and Rp. 6.2 billion (approximately US$620,000) in late payment penalties.

According to a Vice-Director of Bank Mandiri, I Wayan Agus Mertayasa, the Airline must now sell off some of its assets to meet its obligations while waiting for the Government to make good on its promise to provide much-needed cash injections to the Airline. According to Mertayasa, "We hope that additional operational funds will return Merpati to health and permit it meet its scheduled debt repayments."

While it remains unclear which assets of Merpati are destined to go on block, a process has begun to value the Airline's asset and determine which might best be sold to meet debt while allowing the Company to remain in operation.

Commenting to Bisnis Indonesia, the President Director of Merpati, Hotasi Nababan, refused to detail which assets are likely to be sold, only saying that the process was underway and he hoped the Airline would be allowed to "survive." Blaming his Airline's current unhappy state of affairs on competitive factors, Hotasi refused to provide the press with more details on its debt default or a promised cash injection of Rp. 75 billion (approximately US$7.5 million) from the Government.


© 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
How to Ruin a Beach Holiday
Candidasa Beach in East Bali Polluted by Styrofoam Debris from Floating Dock Project
(3/26/2017)
A Devil’s Island on an Island in Paradise
Bali Press Report Exposes Inhumane Conditions at Bali’s Kerobokan Prison
(3/25/2017)
Cheap Flights Between Bali and Tokyo
AirAsiaX to Fly Four Times a Week Between Bali and Tokyo Starting May 24, 2017
(3/25/2017)
New Parking Tariff at Bali Airport Effective April 1, 2017
Effective April 1, 2017, the price to park vehicles at Bali’s Ngurah Rai Airport will increase.
(3/25/2017)
Bad Chemistry
Bali Police Set Up Network with Local Chemical Suppliers to Detect Suspicious Terrorist-Related Activities
(3/25/2017)
Communicating Success in Nusa Dua
Rosalyn Sayswang Heads Marketing Communication at St. Regis Bali Resort and The Laguna Bali
(3/26/2017)
To Reign Over Repast
The Laguna Welcomes Gunnar Kuchenbecker As Director Of Food & Beverage
(3/26/2017)
North-South Toll Road for Bali a Non-Starter?
Public Works Minister Discounts Need for a North-South Toll Road for Bali
(3/25/2017)
Promising to be ‘Bigly’ Obedient
Billionaire Owner of Planned Donald Trump Development in Bali Promises to Respect Local Culture and Rules
(3/25/2017)
Counting the Cracks
Bali Officials Count the Damage from March 22, 2017 Earthquake
(3/24/2017)
The Tip of the Tipping Iceberg?
Two Jembrana Regency Officials Apprehended for Accepting Illegal Payments at Gilimanuk Ferry Port
(3/26/2017)
Bali Named the Best, Again
Trip Advisor Travellers’ Choice Award 2017 Names Bali the World’s Best Destination
(3/24/2017)
All [News]!