PDFCI and BTN provide $390m for toll road project<\/p>\n
JAKARTA (JP): Publicly-listed Bank PDFCI and state-owned Bank
\nDagang Negara (BDN) are jointly arranging a syndication loan of
\nRp 920 billion (US$390.3 million) for a consortium of companies
\nin charge of building a 19.2-kilometer toll road in the city.<\/p>\n
\"The loan agreement will be signed here next week,\" R.C. Eko
\nSantoso Budianto, a director at Bank PDFCI, said after the bank's
\nannual and extraordinary shareholders meetings yesterday.<\/p>\n
The 19.2-kilometer toll road, linking Cikunir in Bekasi, West
\nJava, and Tanjung Priok in North Jakarta, is currently being
\nbuilt by PT Citra Bhakti Margatama Persada, a consortium of
\nstate-owned highway operator PT Jasa Marga, PT Citra Lamtoro Gung
\nPersada, PT Tridan Satriaputra Indonesia, PT Baskara Duniajaya
\nand Tiara Indah Foundation.<\/p>\n
Eko said his bank is arranging Rp 430 billion of the total
\nloan, while BDN is arranging the rest, or Rp 490 billion. The
\nloan syndication involves some 30 local banks.<\/p>\n
\"We have taken the lead and involved local banks because
\nforeign banks are not interested in financing the toll road.
\nMaybe it's because the revenues from the toll way will be
\ndenominated in rupiah,\" he added.<\/p>\n
Meanwhile, Bank PDFCI's president, Eddie Tong, said that his
\nbank is increasing its fee-based revenues, including those from
\nloan syndication services, foreign exchange trading and other
\nbanking services.<\/p>\n
Last year, Bank PDFCI recorded fee-based revenues of Rp 11.5
\nbillion, or 6 percent of its total revenues. Of the fee-based
\nrevenues, Rp 2.1 billion came from service fees, 2.6 billion from
\nforeign exchange trading and Rp 7.5 billion from other fees and
\ncommissions, including from loan syndications.<\/p>\n
\"The year 1995 was the beginning of our focus on investment
\nbanking activities,\" Eddie said, adding that the bank was
\ninvolved in a total loan syndication of Rp 1 trillion last year,
\nincluding $75 million for publicly-listed oil firm PT Medco
\nEnergi to acquire PT Stanvac Indonesia from America's Mobil Oil
\nand Exxon.<\/p>\n
During the first quarter of this year, the bank booked total
\nfee-based revenues of some Rp 7 billion.<\/p>\n
Earlier this year, the bank was assigned to arrange and
\nprovide bank guarantees worth Rp 707 billion to three
\ntelecommunications firms to build and operate telecommunications
\nnetworks in Central Java, West Java and Kalimantan island.<\/p>\n
Because of its active participation in loan syndications,
\nInternational Financing Review magazine included Bank PDFCI in
\nits Top 50 International Arrangers in the Asia Pacific Rim in the
\nfirst quarter of this year.<\/p>\n
Bank PDFCI's shareholders yesterday agreed to the bank's plan
\nto distribute dividends of Rp 110 per share for 1995 or 44.5
\npercent of its total profit per share.<\/p>\n
The bank's total assets grew by 19 percent to Rp 1.5 trillion
\nas of the end of last year from Rp 1.3 trillion as of the end of
\n1994. Its net consolidated profits increased to Rp 23.2 billion
\nlast year from Rp 15.1 billion in 1994.<\/p>\n
As of December 1995, the bank was 19.8 percent owned by PT
\nBahana Investa Argha, 17.42 percent by Bank Indonesia and its
\npension funds, 9.77 percent by Nippon Credit Bank, Ltd. of Japan,
\n5.72 percent by PT Pan Indonesia Bank, Ltd. and 4.09 percent by
\nDEG-Deutsche Investitions und Entwicklungsgesellschafts mbH of
\nGermany. (rid)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pdfci-and-btn-provide-390m-for-toll-road-project-1447893297",
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"sponsor": "Okusi Associates",
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