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’s Cash Crunch
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’s Cash Crunch

Government Unable to Help Garuda’s Need for More Working Capital


Bali News: Indonesia, Garuda Indonesia, Financial situation, debt to equity ratio, Balance sheet, debt, Hadrito Hardjono, Gatot Trihargo
Click Image to Enlarge

(8/10/2014)

The Indonesian government has rejected requests for additional working capital submitted by the State-owned flag carrier Garuda Indonesia.

According to Bisnis.com, the government cites a lack of designated allocations in the State Budget for capital support to the airline as preventing the cash injection sought by the Airline.

The deputy-manager in chare of finance, construction and other service at Garuda, Gatot Trihargo confirmed that the government faces difficulties in financially shoring up the Airline.

As a publicly-traded company owned by the government, whenever a new or additional rights issue is launched the government’s shareholding becomes necessarily diluted.

“Additional capital is not allocated for in the current government budget,” explained Trihargo.

A possible injection of cash or new rights issues has reportedly not been tabled for discussion between Garuda and the Minister for State Owned Enterprises.

Garuda has been seekin new capital sourced from the government in order to meet the Airline’s growing need for cash.

The director of finance for Garuda Indonesia, Hadrito Hardjono, told the press that the Airline’s finances are under pressure with the ratio of debt to equity now a critical juncture.

Hardjono said the debt to equity ratio of the airline is now 1.1 – a situation considered too restricting to maintain normal financial operations. The Finance director declared that any ration exceeding 1.1 would have a deleterious on the Airline’s balance sheet.

At the end of June 2014, Garuda Indonesia’s total dept had reached US$1.2 billion with the company’s assets valued at US$1 billion.

Garuda Indonesia had debts of US$200 to US$300 million that must be settled in the current year.


© 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
Letting Off Some Steam
Latest Update: Mount Agung Eruption, Tuesday, November 21, 2017
(11/21/2017)
More Coin for Three Fountains
Badung Regency Installing Dancing Fountains at Three Major Public Monuments
(11/19/2017)
For Sale: 350 Bali Houses at Rp. 3 Billion Each
350-Unit Elite Housing Complex to be built in Tohpati, North Sanur, Bali by Waskita Karya Realty
(11/19/2017)
Indonesian Tourism – One Complex at a Time
Bali’s ITDC Celebrates 44 Years of Developing Indonesian Tourism
(11/18/2017)
Time to Tango?
Solo Tango Orquesta to Appear at Padma Resort Legian, Bali on November 30, 2017
(11/19/2017)
Party on the Beach in Sanur
ARTOTEL to Open a Sanur Beach Club, Bali in December
(11/19/2017)
Bumble in Jungle
Four Villagers in Karangasem, Bali Suffer Attack by Jungle Bees
(11/19/2017)
What’s the Buzz
Provincial Health Officials Warns Public to be on Guard Against Mosquito Bites that Cause Dengue Fever
(11/18/2017)
Counter Moves at Bali Airport
Bali Airport Adding 40 New Check-in Counters for IMF-World Bank Conference in 2018
(11/19/2017)
Major MICE Show Coming to Indonesia
DestinASEAN Meeting, Incentive, Convention and Exhibition Show in Tangerang, Indonesia April 9-10, 2018
(11/18/2017)
OTAs Asked to Pay their Fair Share in Taxes
Indonesian Hoteliers Want to Pressure International Online Travel Agents to Pay Sales Taxes.
(11/18/2017)
One Less Corrupt Official in Bali’s North
Karangasem Official Collecting Illegal Levies from Tulamben Dive Operators Sent to Prison for One Year
(11/18/2017)
All [News]!