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Astrindo Nusantara Infrastruktur to acquire PTT Mining for USD 471 million

JAKARTA. PT Astrindo Nusantara Infrastruktur Tbk (BIPI), an oil and gas mining company, has signed the share purchase agreement (SPA) regarding the takeover of PTT Mining Ltd, Hongkong (PTTML) from PTT International Holdings Limited and PT Sintesa Bara Gemilang. Kurniawati Budiman, Corporate Secretary of BIPI, confirmed that the SPA was signed by the representatives of….

Telkomsel divested 6 thousand towers for IDR 10.28 trillion

JAKARTA. PT Telekomunikasi Selular (Telkomsel), a subsidiary of PT Telkom Indonesia Tbk (TLKM), has transferred 6 thousand units of telecommunication towers to PT Dayamitra Telekomunikasi Tbk (MTEL) or Mitratel for IDR 10.28 trillion. Those towers reassigned to Mitratel will then be leased to Telkomsel. In addition to this, Mitratel will also lease 712 land plots….

Provident Capital to acquire 54.58% of PALM

JAKARTA – The portion of PT Provident Capital Indonesia (PCI) will rise to 54.58% by the end of the tender offer of 10.41% of shares of PT Provident Agro Tbk (PALM). In said corporate action, CPI plans to acquire a maximum of 736,728,500 shares owned by PALM’s shareholders. In the information disclosure quoted Monday (25/7),….

Boss Panin Says About the News of the Acquisition of Danamon’s Parent

Jakarta, CNBC Indonesia – Japanese financial group Mitsubishi UFJ Financial Group Inc. (MUFG), is reportedly considering an offer to buy Panin Bank shares. In fact, MUFG is said to be working with financial advisors to explore an agreement related to the acquisition of Bank Panin shares. In response to this, Panin Bank President Director Herwidayatmo revealed that this….

Garuda Indonesia’s creditors file an appeal

JAKARTA – The creditors of PT Garuda Indonesia (Persero) Tbk (GIAA) reportedly petition an appeal over the legal verdict homologated by the Commercial Court of Central Jakarta District Court regarding the case between GIAA and its creditors. This petition for appeal was successfully filed by the creditors within 14 days after the court decision was….

In Semester I 2022, the Trend of Delaying Debt Payment Obligations (PKPU) is Recorded Declining

KONTAN.CO.ID – JAKARTA . Throughout the first semester of 2022, the number of cases of Postponement of Debt Payment Obligations (PKPU) decreased compared to 2021. Citing data from the case tracking information system (SIPP) from 5 commercial courts (PN), namely the Central Jakarta District Court, Medan District Court, Semarang District Court, Surabaya District Court and Makassar District….

Chandra Asri is granted USD 100 million loan by Bank OCBC

JAKARTA. PT Chandra Asri Petrochemical Tbk (TPIA) has obtained a loan facility of USD 100 million from PT Bank OCBC NISP Tbk (OCBC) to drive the progress of the petrochemical industry. Said facility has a tenor of ten years, as stated in the information disclosure in Indonesia Stock Exchange (IDX). Martin Widjaja, Director of NISP,….

Back on banking industry, Astra to acquire 49.56% of Bank Jasa Jakarta

JAKARTA. PT Astra International Tbk (ASII) will be back on the banking industry following the acquisition of 49.56% of PT Bank Jasa Jakarta (BJJ) by it’s subsidiary, PT Sedaya Multi Investama (SMI). ASII and BJJ reportedly signed Shares Subscription Agreement (SSA) earlier this month, according to Gita Tiffani Boer, Corporate Secretary of ASII. “SMI will….

Garuda Indonesia focuses on maximizing profitability

JAKARTA – After the approval of the peace plan by the Panel of Judges of the Central Jakarta District Court, yesterday (27/06), PT Garuda Indonesia (Persero) Tbk (GIAA) projected a faster performance recovery that is aligned with measures to maximize the Company’s profitability. The approval was in accordance with the majority support from creditors based….