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
Fly me to the Ginger Moon
Bali Culinary Professionals Monthly Luncheon at Ginger Moon Saturday, February 28, 2015
(1/31/2015)
An Epidemic of Death
Governor Calls for Detailed Study of Suicide in Bali
(1/31/2015)
A Toothless Tiger
Minister of Transportation Order to Bar Overloaded Trucks from Entering Bali Remains Unenforced in the Face of Defiant Truck Drivers
(1/31/2015)
Tourism Minister Visits Bali
Indonesian Tourism Minister Thinks Bali Needs a 100,000-person Capacity Exhibition Hall
(1/31/2015)
Take Me for What I Am
Indonesian Visitors without Valid KTP Refused Entry to Bali at Gilimanuk Port
(1/31/2015)
When Policemen Take License
NZ Media Couple Report Inappropriate Request from Bali Traffic Cop
(1/31/2015)
International Crime Busters
Australian Federal Police Will Continue to Provide Information to Assist Indonesian Police in the Arrest of Australian Lawbreakers
(1/30/2015)
Left Holding the Bag
Baggage Storage Facilities at Bali Ngurah Rai International Airport
(1/30/2015)
Altitude Sickness
Indonesian Airlines Required to Check Cockpit Crews Health on Each Flight Before Takeoff
(1/30/2015)
Service Charge Included
Garuda to Resume Inclusion of Passenger Service Charge in Ticket Price Effective February 1, 2015
(1/30/2015)
Bali Will Crack Down on Illegal Workers in 2015
Immigration, Police and Manpower Officials to Closely Supervise Foreign Workers in 2015
(1/30/2015)
Five Stars in the Indonesian Skies
Garuda Indonesia Earns Five Star Rating from Skytrax
(1/30/2015)
All [News]!