Jababeka issues US$150m notes to fund expansion<\/p>\n
JAKARTA (JP): PT Kawasan Industri Jababeka, through its Dutch
\nsubsidiary Jababeka International BV, has issued a three-year
\nfloating rates notes worth US$150 million to support its
\nindustrial estate expansion.<\/p>\n
The company said in a statement that the notes, launched in
\nSingapore yesterday, were arranged by Nomura and Peregrine
\nthrough their Hong Kong branches.<\/p>\n
"The notes will mature in three years with an interest rate of
\n2 percent above the six-month LIBOR per annum," vice president
\nIwan Putra Brasali said.<\/p>\n
Iwan said the funds would be used to finance the land
\nclearance of the Cilegon industrial estate, in Serang, West Java.<\/p>\n
"Part of the funds will be used to acquire 76.5 percent of PT
\nBatavia City Realty and Batavia Perkasa," he said.<\/p>\n
Jababeka is currently developing an integrated industrial
\nestate in Cilegon, West Serang with a total investment of about
\nUS$600 million.<\/p>\n
The new 1,300 hectare industrial estates will accommodate big
\nindustries such as petrochemical industries, machinery,
\nelectronic and marine industry.<\/p>\n
PT Batavia Perkasa is developing a shopping and office complex
\nin Jakarta.<\/p>\n
The shopping complex will occupy 60,000 square meters of land,
\nwhile the office complex will occupy 75 square meters.<\/p>\n
The listed Kawasan Industri Jababeka has obtained a license to
\ndevelop 4,270 hectares of land consisting of 1,570 hectares in
\nCikarang industrial estate, 1,400 hectares in new Cikarang Kota
\nHijau housing estate and 1,300 in Cilegon industrial estate in
\nSerang, West Java.<\/p>\n
The publicly listed industrial estate developer now operates
\nan integrated industrial estate in Cikarang, West Java.<\/p>\n
Jababeka had previously set up PT Gerbang Teknologi Cikarang,
\na joint venture between PT Kawasan Industri Jababeka and
\nSingapore Investment Pte. Ltd., to develop a high-tech estate in
\nthe Cikarang estate.<\/p>\n
According to an earlier report, a foreign securities company
\nMerrill Lynch bought 70 million shares or 11.16 percent of
\nJababeka from its founding shareholder PT Mekar Sertajaya.<\/p>\n
PT Mekar Sertajaya owns 42.93 percent or 134,640 million
\nshares of Jababeka. Last year Merril Lynch also bought 62.8
\nmillion shares of Jababeka. (aly)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jababeka-issues-us150m-notes-to-fund-expansion-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}