LMIR Trust secures $200m loan for refinancing, working capital

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LMIRT Management Ltd, as manager of Lippo Malls Indonesia Retail Trust (LMIR Trust) announced that LMIR Trust has obtained a S$200 million term loan facility through its wholly-owned subsidiary, LMIRT Capital Pte Ltd (LMIRT Capital). It said LMIRT Capital has entered into a facility agreement with, inter alia, BNP Paribas… Read more »

Indonesia’s Surya Semesta eyeing Nusantara Infrastructure stake

Indonesia’s property developer PT Surya Semesta Internusa Tbk (SSIA) has expressed its interest to buy 23.6 per cent stake in PT Nusantara Infrastructure (META) from Rajawali Corpora, an investment holding company of the Rajawali Group. Darjoto Setyawan, managing director at Rajawali Corpora, said the company is currently in talks with… Read more »


Indonesia’s Tiphone to raise $37.59m in bond sale

Tiphone Mobile Indonesia (IDX: TELE), a mobile phone manufacturer and distributor, is offering a three-year bonds sale worth Rp500 billion ($37.59 million), the proceeds of which will be used to pay off debts. Tiphone has appointed Bahana Securities as the underwriter for the issuance. The company offers the bond at par… Read more »


Indonesia’s Pertamina eyes majority stake in EPC firm Rekind

Indonesia’s state-owned oil and gas company PT Pertamina will acquire majority stake in engineering, procurement, construction (EPC) firm PT Rekayasa Industry (Rekind), a subsidiary of state-owned fertilizer producer PT Pupuk Indonesia. The two parties signed a memorandum of understanding (MoU) over the acquisition plan on Wednesday and expect the acquisition… Read more »


Indonesia’s First Media unit to list in Q3, plans to raise $52.63m

Indonesian pay TV operator PT First Media Tbk (KBLV), a unit of Lippo group plans to sell up to 25 per cent of its internet service provider PT Internux shares via initial public offering (IPO) in the third quarter of 2015. Internux is known for its internet product brand called “Bolt”…. Read more »


Indonesia based Converngence, Russia’s Domino buy Alaska-based Icicle Seafoods

Indonesia based Convergence Holdings – a firm owned by the Soetantyo family (which has extensive holdings in the food and canning sector across North America and Asia) – and St Petersburg-based Dominion Catchers will be buying Icicle Holdings Inc, one of Alaska’s largest seafood processors from private equity firm Paine & Partners. The… Read more »


Indonesia’s retailer Matahari launches new retail format

PT Matahari Putra Prima Tbk (MPPA), a multi-format modern retailer in Indonesia, which operates Hypermart, Foodmart and Boston Health & Beauty, launched a new supermarket format targeted for the upper segment customers with “Foodmart Primo” trademark. The store was officially opened on Friday, June 26, 2015 and located at the… Read more »


Two Salim group companies jointly buyout SG-based Asian Assets Management for $78m

Two companies of Indonesia’s biggest conglomerate Salim Group — PT Indofood CBP Sukses Makmur Tbk (ICBP) Tbk and PT PP London Sumatra Indonesia Tbk (LSIP) — have acquired a combined 100 per cent shares of Singapore-based Asian Assets Management Pte Ltd for a $78 million. Each company bought 56.70 million… Read more »


LMIR Trust to acquire 2 malls for $83.3m in Indonesia

Singapore listed company Lippo Malls Indonesia Retail (LMIR) Trust has agreed to acquire two malls, Lippo Plaza Batu and Palembang Icon for $83.33 million (Rp1.06 trillion). LMIR Trust is planning to fund the two acquisitions with a combination of its internal cash resources, debt, and the issue of new units… Read more »


Indonesia’s PLN to source $1b gas-based turbines from GE

General Electric (GE) Corporation, the American multinational conglomerate, will get an order of 400 mobile gas-based turbines with capacity 25 megawatts (MW) worth $1 billion from the Indonesian state-own electricity company PT Perusahaan Listrik Negara (PLN). The gas turbines will be used by the PLN to support government’s plans to build… Read more »