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.


 
 
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
Heinz's 100 Varieties of Indonesian Cuisine
Bookshelf: A New Approach to Indonesian Cooking by Heinz von Holzen
(10/20/2014)
We Get More Mail!
Folly has its Price. Spirited Comments of Disaffection Continue to Flow in About Bali’s Newly Renovated Airport
(10/20/2014)
Who Owns Bali’s Heritage
Legality of Badung Regency Funding of Taman Ayun Questioned by Badung Legislator
(10/19/2014)
The Gods Must be Irritated
French Climber Evacuated From Upper Slopes of Mount Agung
(10/20/2014)
Sauvetage en Mer
Bali Lifesavers Show Their Skills at International Surf Rescue Games in France
(10/19/2014)
Chefs Al Fresco in Sanur Bali
Bali Culinary Professionals to Meet at Swiss-Belresort Watu Jimbar on Saturday, October 25, 2014
(10/19/2014)
World Travel Agents to Meet in Bali
United Federation of Travel Agents to Meet in Bali November 16-19, 2014
(10/19/2014)
Travel May be Ebola’s Biggest Victim
Editorial: In the Unfolding Ebola Epidemic Crisis the Most Deadly Symptom May be Fear
(10/20/2014)
Human Charity – On the House
‘Together as One’ Fun Run Raises More than US$9.000 to Improve Housing for the Poor in Bali
(10/19/2014)
Passing Gas
Denpasar, Bali Mayor Joins Chorus Urging Port of Benoa Not be Used for LNG Depot
(10/19/2014)
Ignoring the Protests
Tirta Wahana Bali International to Go Ahead with Benoa Bay Reclamation Project
(10/19/2014)
Ease of Access
Indonesia Fails to Enforce Rules on Handicapped Access
(10/18/2014)
All [News]!