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
No Right to Bear Arms in Paradise
Police Arrest American at Bali Airport with 12 Rounds of Live Ammunition
(3/23/2017)
On the Road to Nowhere
Bali Toll Road to Close for 32 Hours During Nyepi New Year Period
(3/23/2017)
No Landings. No Take-offs
Bali Airport to Close for 24 Hours on March 28, 2017
(3/23/2017)
A Moving Experience
Bali Gets a Strong Early Morning Wake Call via a 6.4 Magnitude Earthquake on Wednesday, March 22, 2017
(3/23/2017)
In the Event of a Sudden Loss . . .
Garuda’s Profitability Drops 89% in 2016
(3/23/2017)
A Silent Night Before a Silent Day?
Bali Chief Policeman Issues Call for Discipline and Self-Control Over Nyepi Holiday
(3/22/2017)
Weddings that Stop Traffic
Bali Toll Roll Rentable for Wedding Photo Shoots
(3/19/2017)
All Inclusively Including Lombok
Club Med to Open in Lombok in 2019
(3/19/2017)
Things Going Dramatically for Jeremy
Criminal Case Against Indonesian Actor Jeremy Thomas Moves Forward in Bali
(3/18/2017)
Crossing the Bridge of Love at Nusa Penida
Nusa Penida’s New Yellow Bridge Becomes a New Icon of Bali Tourism
(3/19/2017)
Did You Feel It?
Mild Earthquake on Friday, March 17, 2017 - 334 km Southwest of Bali
(3/18/2017)
Keeping the Peace and Quiet
5.600 Police and 22,000 Volunteers to Keep Things Quiet on Hari Nyepi – March 28, 2017
(3/18/2017)
All [News]!