Pudjiadi Prestige to issue bonds<\/p>\n
JAKARTA (JP): Pudjiadi Prestige Ltd. will issue five year
\nbonds totaling Rp 150 billion (US$63.02 million) and will be
\nlisted on the Surabaya Stock Exchange on May 15, 1997<\/p>\n
Avi Y Dwipayana, president of Trimegah Securindo Lestari, the
\nlead underwriter for the bond issuance, said tranche A would
\ncarry a fixed interest rate of between 16.45 percent and 16.75
\npercent per annum for five years while tranche B would carry a
\nfixed rate of between 16.45 percent and 16.75 percent in the
\nfirst year and a floating rate in the second to fifth years.<\/p>\n
He said the floating rates would be based on time deposits of
\nsix domestic banks.<\/p>\n
\"The bonds will become a good portfolio investment with the
\npresence of mutual funds,\" Avi said, adding that Pudjiadi's
\nassets would be used to guarantee the bonds issuance.<\/p>\n
Pudjiadi Prestige's president, Kosmian Pudjiadi, said after a
\nmeeting with senior officials of the Capital Market Supervisory
\nAgency yesterday that 30 percent of the proceeds would be used to
\nfinance the development of its new project, Villa Bukit Marbela
\nand Pluit apartments in North Jakarta.<\/p>\n
He said the other 30 percent would be used to develop the
\nthird stage of the Marbela hotel and Menara Kelapa Gading
\ncondominium.<\/p>\n
\"The remaining 20 percent would be used to increase the
\ncapital structure of Pudjiadi,\" he said.<\/p>\n
Pudjiadi Prestige, listed on the Jakarta Stock Exchange, is
\ncurrently 27.66 percent owned by the Pudjiadi family, 44.54
\npercent by PT Istana Kuta Ratu, 1.8 percent by Soekardjo
\nHardjosoewirijo and 26 percent by the public.<\/p>\n
He said the company's total revenue rose from Rp 68.92 billion
\nin 1994 to Rp 73.47 billion in 1995.<\/p>\n
As of October 1996, the company had recorded a total revenue
\nof Rp 84.97 billion.<\/p>\n
The company's total net profit rose from Rp 20.65 billion in
\n1994 to Rp 21.4 billion in 1995. As of October 1996, its net
\nprofit reached Rp 20.49 billion.<\/p>\n
The property company has hotel, apartment and residential, and
\ncommercial divisions. Its shopping centers include Pasar Gambir
\nKemayoran in North Jakarta and Plaza Jayakarta shopping complex
\nin Depok.<\/p>\n
The firm has four hotels: Jayakarta Bali, Jayakarta Lombok,
\nJayakarta Jogyakarta and Jayakarta Marbela.<\/p>\n
The firm also owns Kemang, Regensi Kalifornia, Prapanca and
\nSenopati apartment buildings which are mostly in South Jakarta.
\n(09)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pudjiadi-prestige-to-issue-bonds-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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