WEBODIGY Business & Finance Journal

JAKARTA – ACE Hardware Corporation continued its license agreement for the brand and products directly imported from the United States with PT ACE Hardware Tbk (ACES), after 15 years in synergy together.

As noted ACES management, the disclosure of information to the Indonesia Stock Exchange (BEI), in Jakarta, on Thursday (18/3/2010), management company has signed a license extension was made on January 19, 2010.

With the extension of the license valid for 15 years, this new agreement will run January 1, 2010 until December 31, 2024.

Just mengigatkan, the company will open a new outlet measuring 15 thousand square meters called Living World which will be built in August 2010.

In addition to building plans, the EGM in April and has agreed to pay rent of about Rp90 billion to PT Kawan Lama Sejahtera, which is the parent company.

Rent payments have been made in August of Rp20 billion. Time of payment of about Rp90 billion. This is done according to a lease agreement which was signed between the parties.

PT BFI Finance set a coupon corporate bonds II/2010 total 200 billion worth of level 12% – 13.25%.

Bureau Chief Financial Assessment Service Sector Capital Market Supervisory Agency and Financial Institution (Bapepam-LK) Noor Rachman said the amount of coupons based on the company submitted documents.

He explained coupon bonds series A bertenor that the 370-day set at the level of 12% worth Rp100 billion and Series B bertenor 18 months is set at 12.75% level worth Rp30 billion. Furthermore the C series of 24-month bertenor set at 13.25% level worth Rp70 billion.

“The possibility of an effective statement they could get today or next week, because almost finished,” he told the press today.

He revealed the company had handed over documents to obtain an effective statement about three days ago.

In the debt issuance, the company assisted PT Danareksa Securities as underwriter for the issuance.

Mitsubishi Financial to issue yuan bonds
Mitsubishi UFJ Financial Group Inc., Japan’s largest bank, plans to become the first foreign company issuing yuan-denominated bonds to be sold in China to seek new investors.

Noriyuki Tanaka, manager of corporate planning division, explains subsidiary Bank of Tokyo-Mitsubishi UFJ (China) Ltd. won permission to sell bonds. Also plans to explore funding to 1 billion yuan (U.S. $ 146 million) of securities 2-year term.

“We’re hoping to get a warm reception from investors in China. Yuan bond issuance is the form of diversification of funding sources and stability in the medium term,” Tanaka said by phone from Shanghai today.

Head of the China Securities Regulatory Commission affirmed the Shang Fulin China will develop corporate bond markets and encourage banks to trade debt securities. Previously, the National Association of Financial Market Institutional Investors explain Asian companies were allowed to start selling bonds.

China bonds jumped to 1.96 trillion yuan last year, from 981 billion yuan over the government’s efforts to reduce dependence on bank credit companies.

John Cheng, managing director of investment banking China International Capital Corp., argues that the first group of buyers in China’s bond market could come from blue-chip companies who want to expand.

“Sales of yuan bonds that can be regarded as a pilot project. More importantly, who would buy. Because the insurance and fund managers can not buy because they have to get permission first. The possibility that banks could only buy,” said Qu Qing, an analyst with fixed -income Shenyin Wanguo Securities Co. in Shanghai responded to the plan of the Bank of Tokyo-Mitsubishi.

BCA loan portfolio grew 49.5 per cent of the total portfolio of loans PT Bank Central Asia Tbk (BBCA) in the first half of 2008 grew by 49.5 percent or to Rp95, 6 trillion, compared to the previous year which only Rp63, 9 trillion.

“This increase is not free from pressure credit quality controlled,” said President Director of BCA DE Setijoso during the first semester of exposure to the performance-2008 at Wisma BCA, Sudirman, Thursday (24/7/2008).

Growth was supported by encouraging corporate credit grew by 64.5 percent, from previous Rp24, 9 trillion in the first half of 2007 to Rp40, 9 trillion. The high increase in corporate loans was supported by strong demand in the telecommunications sector credit, plantation, agriculture and mining.

As for the commercial credit portfolio Small and Micro Enterprises (SMEs) increased from Rp28, 1 trillion in the first half of 2007
to Rp37, 4 trillion in the first half of 2008. Not to forget, consumer credit also grew 55.9 percent, from Rp 11.1 trillion to Rp17, 3 trillion.

In this consumer sector, supported by increased financing mortgage (mortgage) which increased by 47.5 percent to Rp9, 4 trillion. Motor vehicle credit (PPP) was also increased by 95.4 percent to Rp 5, 8 trillion.

Although the directors of PT Wahana Together Globalindo (WBG) has been convicted pindana entirely, but the clarity of the investor fund marketing agent Limeted Dressel Investment products, namely Sportman Portfolio and the Global Market Portfolio (GMP) Fund have not seen, too.

“Total investment Rp3, 5 trillion of which 10 thousand investors in Indonesia,” said Vice Chairman Dressel Crisis Center and the WBG Rudy Hartono, when he met journalists, the Tee Box Cafe, Jalan Wijaya, South Jakarta, Tuesday (14 / 7 / 2009).

Just a flashback, this embezzlement case unfold since 2007 and where from 2006 investors in Indonesia Dressel began having trouble withdrawing their investment funds. Until finally, directors WBG convicted in early 2008.

Furthermore, the authorities, including police and prosecutors have seized assets worth Rp 5 billion WBG. However, to date confiscated goods yet also be liquidated by investors. “The current was confiscated Rp5 billion. That’s what we have submitted to the crisis center,” he added.

It also has made various efforts to dilute it, such as by sending a letter of application execution proof of delivery of goods to the head of the Central Jakarta District Attorney.

“But the reason is always a classic, we (kejakasaan) has not received the file, have not seen the original,” he said.