;JP;REN; ANPAf..r.. Brief-BAT-Pall-Mall BAT to merge with Pall Mall JP/14/brief BAT to merge with Pall Mall
JAKARTA: Publicly listed cigarette and tobacco company PT BAT Indonesia, a local unit of U.S.-based British American Tobacco Inc., is planning to merge with smaller rival PT Rothmans of Pall Mall Indonesia this year to improve its performance.
In its report to the Jakarta Stock Exchange on Thursday, the company said it was currently conducting a feasibility study over the merger plan with its possible execution slated for this year. BAT did not elaborate further on the plan.
BAT produces and distributes in Indonesia a number of leading international cigarettes, including Lucky Strike, Dunhill, Kansas, Ardath, 555, Benson & Hedges and Commodore. -- JP
;JP;REN; ANPAf..r.. Brief-Duta-Pertiwi Duta Pertiwi receives loans from BNI JP/14/brief Duta Pertiwi gets loans from BNI
JAKARTA: Publicly listed property company PT Duta Pertiwi announced on Thursday that it had just signed a working capital loan agreement with state-owned Bank Negara Indonesia (BNI) worth US$28.5 million and Rp 352.7 billion (US$39.7 million).
The company reported to the Jakarta Stock Exchange that the dollar-denominated loans carried an interest rate of 9 percent, while the rupiah loans at 13.5 percent, with a maturing period of five years on Dec. 22, 2009.
The company, which is part of the Sinar Mas Group conglomerate, will cover the collaterals for the loans with its two buildings, the Plaza BII office tower II and III, located on Jl. Thamrin, Central Jakarta. -- JP
;DJ; ANPAf..r.. Brief-Danamon-tsunami Danamon sees minimal losses from tsunami JP/14/BRIEF
Danamon sees little losses from tsunami
JAKARTA: Bank Danamon Indonesia, the country's fifth-largest bank, does not expect significant losses from the damage caused by last month's tsunami that destroyed Aceh and North Sumatra, a bank official said on Friday.
As of December 2004, the bank's seven branches in Aceh and Nias Island had extended Rp 59 billion (US$6.34 million) of loans, I Dewa Made Susila, the head of Bank Danamon's investor relations division, told Dow Jones.
"This shouldn't any material impact on the financial results of the bank," he said.
Bank Indonesia has estimated that around half of overall Rp 4 trillion bank loans in the north Sumatra region are expected to be irrecoverable. -- Dow Jones
;DJ; ANPAf..r.. Brief-Indofood-bond Indofood fails in second bond buyback bid JP/14/BRIEF
Indofood fails in bond buyback bid
SINGAPORE: Indonesia's largest instant noodle maker, Indofood Sukses Makmur on Friday failed to get bondholders' approval for the repurchase of US$280 million in international bonds due 2007, opening the way for a court bid to get consent for repayment, company director Djoko Wibowo said.
In a previous announcement, Indofood said it would proceed to the U.K. courts to seek the go-ahead to redeem the bonds at par if bondholders failed to give their approval.
Holders of 42.8 percent of the bonds gathered in Singapore on Friday morning, meeting the minimum requirement of a 25 percent quorum, but only 21.64 percent of those represented voted in favor of the buyback, far less than the 75 percent approval needed.
Indofood was seeking the nod from bondholders to repay the debt at 101 percent of face value. --Dow Jones