Five firms interested in PSSI's notes<\/p>\n
JAKARTA (JP): Five companies have shown interest in investing
\ntheir money in the medium term notes issued by the Soccer
\nAssociation of Indonesia (PSSI) on Thursday, according to PSSI
\ntreasurer Irawadi D. Hanafi.<\/p>\n
Irawadi refused to name the companies, but indicated that they
\ncame from property, agriculture, food manufacturing and shipping
\nenterprises.<\/p>\n
"We are expecting to accumulate up to Rp 14 billion from the
\ncompanies but we still await their confirmation. Just before the
\nissuance and the sale began on Thursday evening, some 15
\nprospective investors also came to us to seek detailed
\ninformation about the notes," he said Friday.<\/p>\n
All of them are likely to invest in the Serie A notes which
\nare worth between Rp 1 billion (US$105,000) and Rp 10 billion, he
\nsaid.<\/p>\n
PSSI issued notes worth a total of Rp 1.5 trillion for a
\nlimited 100 investors as a new fund-raising method. Besides the
\nSerie A, PSSI also offers Serie B notes which have a nominal
\nvalue of Rp 100 billion.<\/p>\n
The two-year notes do not carry interest, but PSSI guarantees
\nthat investors will gain non-material benefits.<\/p>\n
Proceeds from the notes issued will be invested in bank time
\ndeposits and the PSSI will use the interest income to finance the
\ncompetition and the national team's overseas campaign.<\/p>\n
The interest rate used for the investment will be an average
\nof the six-month deposit rate from three banks: Bank Mandiri,
\nstate-owned Bank Negara Indonesia and nationalized Bank Central
\nAsia.<\/p>\n
Holders of the Serie A notes will not receive any interest but
\ninstead they will be permitted to advertise their companies at
\nany soccer events organized by PSSI. Serie B notes holders will
\nget a share of the time deposit interest on their investment.<\/p>\n
The funds will only be deposited in state-owned Bank Mandiri,
\nas opposed to the three banks mentioned earlier.<\/p>\n
Irawadi said Bank Mandiri President Director E.C.W. Neloe had
\nannounced on Thursday that the bank would offer more facilities
\nto lure more investors.<\/p>\n
"Holders of the notes will be prioritized if they want to
\napply for credit at the bank. The notes can also be used as
\ncollateral if the holders want to borrow cash from the bank but
\nthe amount cannot exceed the nominal value of the notes," he
\nsaid.<\/p>\n
"This way, the investors can still make use of their money
\nalthough it is kept in a time deposit."<\/p>\n
Irawadi also brushed off allegations that PSSI chairman Agum
\nGumelar had his hand in the notes sale, using his authority as
\nthe Minister of Communications.<\/p>\n
"We haven't tread on anyone's toes to steal investors. The
\nholders should understand the terms and conditions of the notes
\nbefore they decide to buy them. This fund-raising program is not
\nfully commercial, as it includes a social objective," he said.<\/p>\n
In a related development, PSSI also launched its official
\nwebsite www.sepakbola.tv which will give full coverage of the
\nnational league, national team and all daily soccer events in the
\ncountry.<\/p>\n
The website is sponsored by Lippostar.com, a nationwide
\ninternet portal launched last October and TWIInteractive, a media
\nand technology division of the IMG marketing and media management
\ngroup. (ivy)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/five-firms-interested-in-pssis-notes-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}