Shareholders Approve New Loan XL
Credit & Loan July 6th, 2010
At the general meeting extraordinary shareholders (AGM-LB) PT Excelcomindo Pratama Tbk (EXCL) to approve a new loan that will be used to fund capital expenditures budget or corporate capex.
“This loan will be used to fund capex in the future. Most of the capex will be used to increase network capacity XL,” said President Director Hasnul Suhaimi XL-LB Meeting ended at Prima Tower Building, Kawasan Mega Kuningan, Jakarta, Tuesday ( 29/7/2008).
As for the new loan agreement, the AGM decided to approve the Company plans to obtain new loans in the total number not exceeding USD250 million.
The loan will be made by one or several transactions in the form of syndicated loans, bilateral loans and bonds or through expenditure and / or debt instruments other foreign currency and / or Rupiah.
As is known, in June 2008, XL and its subsidiary Excelcomindo Finance Company BV, announced the results of the request approval of a plan for the sale and transfer towers and assets related to and as part of refinancing outstanding bonds for the cost of funds lower .
XL has made a tender offer to limit to USD150 million guaranteed notes worth USD250 million, 7.125 percent in 2013 due to the bondholder.
The results of the tender offer included the following, received consent from holders of the bonds is 91 percent of the aggregate outstanding principal amount, and bond holders who qualify receive a consent payment of $ 10 for each USD1.000 principal amount.
Aggregate outstanding principal amount of Bonds accepted for payment in a partial tender offer for USD122, 3 million and paid for 101 percent of nominal value. As a result, the outstanding notes to be USD127, 7 million.
SBY-Obama Recovery Discuss Trade Relations RI-USA
Bank July 6th, 2010
Due to the global crisis, the volume of Indonesia-US trade in 2009 decreased compared to before. Recovery of economic relations the two countries to target President Yudhoyono when receiving the state visit President Barack Obama next March.
“Many aspects of investment perdangan and we have genjot again,” said Presidential Spokesman Dino Patti Djalal Cipanas Palace, Cianjur, Tuesday (2/2/2010).
Based on the data he has, RI-trade volume in 2008 reached U.S. $ 20 billion. But the U.S. economic slowdown due to onslaught of the global financial crisis, trade volume otomais made by Indonesia come down.
“Indonesia-US trade is an important part of our economic growth,” said Dino.
But that is not only suppressed the recovery of economic relations the main concern of government. RI-important relationships the United States also includes cooperation in education, defense, prevention of climate change, anti-terrorism, relations between religious and many others.
“Indonesia is a key player in ASEAN and the G20 and the state of the world’s largest Muslim population, is our special assets. If I can have a relationship with the U.S. konstuktif then we can be part of solution to the problems of the world,” he continued.
Remaining backlog bailout Rp2, 56 trillion
Portfolio July 6th, 2010
The government bailout identify remaining until 2008 who had not received reimbursement from the poster (backlog) loans and foreign grants (PHLN) Rp2, 56 trillion.
Finance Minister Sri Mulyani Indrawati explained this issue related to advance the State General Treasurer (BUN) Rp3, 73 which can not be identified if billed back to the lender.
“Government to identify and to map the 257 PHLN the burden of government bailouts and have not received the pengantian from PPHLN (backlog),” said Finance Minister in the government’s response to the common view about the bill the House in 2008 on State Budget accountability
it.
He insisted that the bailout actually backlog is eternal because it is not possible be replaced by the giver PHLN. However, in relation to urge the House could take them, the government is seeking to make that happen again by performing verification to identify advances that are still eligible or not eligible to be billed to PPHLN.
He added Backlog Management Coordination Team has been to map the 257 PHLN including IBRD, ADB, JICA / JBIC / OECF, IFAD, USAID, ITTO, Australia, European Union, JEXIM, IDB, IDA has cost the government bailout with a total value of the not received PPHLN party pengantian Rp 4.38 trillion.
Sample bailout is the government used to ADB for project grants emergency support earthquake and tsunami in Aceh. This figure differs from the total value of deposit accounts of BUN accounts of Rp 3.72 trillion as the central government financial statements (LKPP) in 2008 which has been audited.
According to the Ministry of Finance, this is because the numbers in 2008 only LKPP SP2D special account number that burdensome bailout for 2008. “It should be presented a special account number SP2D burdensome bailout since 1999-2008 when calculated with the funds pengantian
bailout of PPHLN, “he said.
Ministry of Finance data show the use of government bailouts since 1999 until December 31, 2008 amounted to Rp 21.79 trillion. Use of government bailouts to PHLN the status of on going until 31 December 2008 Rp4, 99 trillion, whereas pengantian government bailout of the PPHLN until December 31, 2008 Rp3, 16 trillion.
Wages in Japan fell in December 2009
Economy July 6th, 2010
Wages in Japan during December fell because the company cut employee bonuses to become a signal that consumer spending can not encourage economic recovery.
Labor Department data released in Japan today said Tokyo monthly wages, including overtime, down 6.1% from last year to U.S. $ 5056 (549,259 yen). Decrease in salaries in Japan have higher than the December figure, which is 7%, in June.
Although Japan getting out of the worst recession since World War II, the benefits of the company in the country, ranging from All Nippon Airways Co. to Noritsu Koki Co., not yet recovered.
Before the announcement that data, BNP Paribas economist Azusa Kato Tokyo said the drop in unemployment is not enough to encourage domestic consumption during the business is still cutting labor wages.
“You have to consider improvements to overcome the employment decline in wages. During the employee’s income falls like this, households have not benefited from economic recovery, “said Kato.
Separately, the Japan Business Federation’s report last week showed a big company to cut winter bonuses by 15% to 755,628 yen. The sharpest decline since the survey of wages conducted occurred in 1959
BNI Java targeting Rp900 billion in property loans
Credit & Loan July 6th, 2010
BNI Region VI Surabaya credit growth target property Rp900 billion in 2010 and hoped that the position of commercial loans to Rp1, 6 trillion at the end of the year.
Region VI Leadership BNI Surabaya M Kosim Hariono say until the end of December 2009 the position of property loans in BNI recorded in East Java Rp1, 1 trilin. Total loans dominate the realization that overall consumer credit amounted to Rp1, 3 trillion.
“Looking at the relatively rapid growth and stagnation of credit trends continued to decline for this year, we are ready to allocate the housing credit growth in East Java for Rp900 billion,” said Kosim after signing a cooperation agreement apartment mortgage (KPA) with PT Win Win Realty Center (Ciputra Group) in Surabaya today.
Of the total growth and the process of repayment in the current year, he hoped by the end of 2010 mortgage loans in the position and KPA BNI in Java can reach Rp1, 6 trillion. Property sector in East Java are still expected to be prospective in line with the improving domestic economy.
The level of bad credit risk that the sector tends to stabilize. BNI VI in his own territory, he added, NPL property loans packaged in Griya BNI, only about 1%. In contrast to the level of bad credit risks in the manufacturing industry which is still likely to be high.
“Banks seem to still have to be careful of the relevant sectors although it does not mean
stop at all the credit, “said Kosim
