Suryainti Permata Tbk PT proposes cutting debt by 40% of the principal debt to the creditors Oversign BV
Director Henry J. Suryainti Permata Gunawan through exchange of information disclosure today revealed the company also proposed exemption of interest payments on certain days.
“The company also denied the existence of additional collateral. Until now there has been no response from the creditors of these proposals, “he said today.
He expressed that if this restructuring scheme against the company and its shareholders, to avoid greater losses, shareholders are willing to hand over assets for debt repayment.
The total value of debt acquired by Suryainti Gems of Oversign BV worth U.S. $ 70 million. He admitted the company could not pay the interest obligations due on January 20 because of the weakening Suryainti performance.
Oversign B.V. has also sent notice of default against the company on January 19. “The global financial crisis has pushed the company’s performance and yet no sign of recovery for the property with upper middle class segment.”
Henry revealed the company actually has proposed debt restructuring scheme but declined. In fact, he continued, this scheme considers the high cost of loan arrangement worth U.S. $ 3.5 million, Biya interest U.S. $ 20 million, and investment inefficiency costs of U.S. $ 16.5 million

new Credit distributed in China until January 29 to reach 1.6 trillion yuan (U.S. $ 234 billion).

The report, written by the Economic Information Daily said Industrial & Commercial Bank of China Ltd. distributed more than 170 billion yuan, up by January 29. The news was cited by Xinhua News Agency without naming its source.

Bank of China Ltd. to distribute credit more than 160 billion yuan, Agricultural Bank of China about 150 billion yuan, and China Construction Bank Corp., nearly 108 billion yuan.

The newspaper also said the Bank of China credit target this year to 600 billion yuan and China Construction Bank lending rate hit 750 billion yuan.

The decision, announced in coordinated statements is an important milestone in the global financial crisis and marked the first integrated revocation of extraordinary support from central banks to financial markets.

The European Central Bank (European Central Bank), Bank of England (UK Central Bank), Bank of Japan (Bank of Japan), Swiss National Bank (Central Bank of Switzerland), and the central banks of Canada, Australia, Brazil, and Sweden said they would let the U.S. dollar swap arrangements with the Federal Reserve ended on February 1.

Demand for dollar swap through the Federal Reserve, gave billions of dollars to finance companies through banks abroad, foreign central banks, has fallen dramatically due to market conditions improved throughout the world. “These channels, which was founded to counter the global financial market pressures, no longer necessary given the improvements seen in the functioning of financial markets last year,” declared the European Central Bank.

“Central banks will continue to work together as needed.”

Statement of central banks to coincide with the Fed’s policy statement following the closing of a two-day meeting in January where it says swap will end as planned on February 1.

Fed’s policy setting panel opens swap lines with the European Central Bank and Swiss National Bank in December 2007. When the financial crisis worsened, the Fed also set the swap lines with central banks from Japan, British, Canadian, Australian, Swedish, Norwegian, Danish, Brazil, Mexico, South Korea, and Singapore to ease U.S. dollar funding shortages.

With confidence in the financial markets in short supply at the peak of the crisis, short-term money markets froze. Many banks and foreign investors who rely on money markets to borrow U.S. dollars to fund the U.S. assets they find themselves short of dollars needed to finance the ownership.

Through the currency swap, the U.S. Fed to offer dollars to banks, foreign central banks in exchange for their currencies. Central banks and foreign banks lend dollars to the domestic market, which allows the company access to dollars at a time when the normal financing channels have been closed.

Advocacy Coordinator so said Wahyu Susilo INFID in discussions “SBY 100-Day Government Boediono: Macroeconomic Policy with unequal Welfare”. “For 100 days, economic diplomacy is increasing the debt. While foreign policy was not directed at debt reduction,” says Revelation as a press conference on Sunday (31.1.2010).

In the year 2009 alone, continued Revelation, the total central government debt reached USD 1618 trillion. In fact, the debt burden may interfere with the budget revenue and expenditure.

The new debt alleviation program looks from people out of poverty, such as the National Community Empowerment Program (PNPM), Family Hope Program (PKH), and the School Operational Assistance (BOS), which continued with the cost of foreign debt. This program had previously been independent of government programs, but handed over to foreigners.

Not to mention the burden of debt policies that are named Development Policy Support Program Program. Additional debt is obtained from the Asian Development Bank worth 200 million U.S. dollars and the World Bank worth 600 million U.S. dollars.

Ironically, these donors as well as establishing new institutions to accelerate the program above.

Executive Director K INFID Donatus Marut added, SBY government addicted to debt seems when leading a delegation of Indonesia in the climate change summit in Copenhagen, Danish, mid-December 2009. “President SBY has a new debt commitments to climate change,” said Donatus.

Director of Corporate Banking Bank Mandiri Riswinandi Friday (29 / 1) in Jakarta said the soil and climate conditions in Indonesia strongly supports the development of various food commodities.

Indonesia also has a human resources with knowledge and experience of good farming, and the high interest of investors to invest their capital in the food sector. “The factors driving growth into the food sector in Indonesia, Bank Mandiri to it actively facilitate efforts to increase food production homeland,” said Riswinandi.

Bank Mandiri’s commitment to support the food sector and provide capital facilities are not only targeting the corporate sector or large companies, but also to SMEs, cooperatives, farmers, and other retail segments. Financing facilities to large corporate credit products provided through investment and working capital loans to support expansion and business activities. Bank Mandiri also provides cash management services to facilitate the company’s financial transactions.

Bank Mandiri also actively working capital loans distributed to retailers. While financing for the small farmer credit facility provided through Food Security and Energy (CTF-E), Credit Development and Revitalization Bio Energy Plantations (KPEN-RP), Pattern Development Environmental Partnership (PKBL), and plasma plantations.

According to Riswinandi, the number of farmers who got financing facility of Bank Mandiri in 2009 were recorded as many as 96,488 farmers, higher than 2008 as many as 93,464 farmers. While cooperatives that have related development financing facility to reach 119 food cooperatives, up from 103 cooperatives in 2008.

One of the efforts of Bank Mandiri to realize the commitments in the food sector is developing in Papua Investment Day held in October 2009, which aims to bring together relevant stakeholders, namely investors and regional governments of Papua and Bank Mandiri are intended to provide extensive information about the investment potential of food and discuss the potential and constraints of investment in Papua, and the formulation of follow-up to its realization.

So the press release published by Fitch Ratings Singapore and received Kompas, Monday (25/1/2010).

Improvement ratings are important to Indonesia because it will affect the decrease in debt issuance costs. That means, the same issue will positively affect the largest bond issuers in Indonesia, namely the government, because the costs of issuance of securities (SBN) in the form of coupon yield and the more lightly.

Ranking is raised to the level of BB plus for the global debt securities (issued in foreign currency) and the rupiah-denominated. The increase indicates that the ratings of the chances of default on bonds from Indonesia was in a stable position.

This ranking reflects that Indonesia had begun to recover from the pressure of global financial crisis is very severe in the year 2008-2009. It is supported by continuous improvement in public financial management in Indonesia. Thus said Ngiam Ai Ling as Director of Team Pemeringkat.

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1. Pertamina (Persero)
2. Karaha Bodas Company LLC
3. Industry Pulp Lestari
4. The National Bank Restructuring Agency
5. Kalimanis Plywood Industries
6. Siemens Indonesia
7. Angkasa Pura II (Persero)
8. Kartika Abadi Bentala
9. Daya Guna Samudera Tbk
10. Vision Direct

11. AsiaPacific Hyaat International-Limited
12. Djarma Aru
13. Televisi Republik Indonesia
14. Likpin LLC
15. Multi Control Indonesia
16. Kereta Api Indonesia (Persero)
17. Bank BNI
18. Indo TH Plantations
19. ING International
20. Surya Dumai Industri Tbk

21. DSM Kaltim Melamine
22. Cosa International Group Limited
23. Bukopin Tbk
24. Pasifik Satelit Nusantara
25. Bukit Makmur Mandiri Utama
26. Bank Global International Tbk
27. DP3KK
28. Gandhi Memorial International School
29. Prime Commercial Facility
30. Perdana Karya Perkasa Tbk

31. Sampoerna Agro Tbk
32. Seaunion Energy (Limau) Ltd.
33. Agoda Rimba Irian
34. Total E & P Indonesia
35th. Avera Pratama
36. Steady Safe Tbk
37. Toyota Tsusho Indonesia
38. Kaltim Prima Coal
39. Djakarta Lloyd Center Office
40. Universal Home Foodwear Indonesia

41. Sumalindo Lestari Jaya Tbk
42. General Food Industries
43. Indosawit Inti Subur
44. Holcim Indonesia Tbk
45. KINANTAN Senaputra
46. Pembangunan Sarana Jaya
47. Planet ELECTRINDO
48. Mobil Exploration Indonesia
49. Textra Amspin
50. Semen Tonasa

51. Kaltim Methanol Industri
52. Manunggal Eka Lestari
53. Perkebunan Nusantara XIV
54. Toyo Denso Indonesia
55. Pertamina Unit Pembekalan
56. Salim Ivomas Pratama
57. Gajah Tunggal Mulia
58. Intimutiara Kimindo
59. Hasil Musi Lestari Plantations
60. Petro Oxo Nusantara

61. Dwi Satya Utama
62. Social Security (center)
63. Wira Insani
64. Metal Variety
65. Catur Eka Perkasa Gatra
66. Plantation (Persero)
67. Pakerin
68. Central Proteinaprima Tbk
69. Daesung Eltec Indonesia
70. Merpati Nusantara Airlines

71. Madya Semarang
72. Hyundai Motor Indonesia
73. Aspiration Luhur
74. Istaka Works
75. Dongfang Electric Corporation Indonesia Project
76. Horizon Mega Indah
77. Space Gate
78. Sun Hope Investment
79. Texmaco Taman Synthetics
80. Singgar Honor

81. Pulau Sambu
82. Il Jin Sun Garment
83. Between LKBN
84. Tjiwi Paper Chemicals Factory
85. Astina Son
86. Pindo Deli Pulp And Papermills
87. Sragen Abadi Textile Industry
88. Parna Kaltim Industrial
89. Korina Semarang
90. Three Waves

91. Tower Three Diesel
92. Valu Trada Indonesia
93. Asrigita Facility
94. Ivo Mas Tunggal
95. Sinar Kencana Inti Perkasa
96. Eka Mandiri Mandiri
97. Deutsche Bank AG
98. Wirakarya Sakti
99. Gunung Bayan Pratamacoal
100. Garuda Indonesia

Germany, the famous disciplined fiscal stability, will suffer an increase in public debt from 78 per cent of GDP this year. While the French public debt reached 75.8 percent of GDP in the third quarter-2008. Greek public debt will reach 120 percent of GDP in 2010. (Kompas, January 4, 2010).

In the Asian zone. Japan reported debt would reach 53.5 trillion yen, equivalent to 597 billion U.S. dollars, for the fiscal year 1 April 2009-31 March 2010. This new record in the history of the country’s debt.

Japanese Finance Minister Hirohisa Fuji in Tokyo, December 8, 2009, has hinted the Japanese budget situation will face serious problems (Kompas, December 9, 2009).

Indonesia has had government debt ratios of 89 percent of GDP in 2000, while total liabilities reached USD 1234.28 trillion. In October 2009, the ratio of government debt fell to as low as 30 percent of GDP, but the nominal debt increased to $ 1602.19 billion.

Why do governments around the world tend to be indebted to finance budget country?

One of the basic platform that can explain this is the preposition that expressed two Nobel Economics Prize recipient, Franco Modigliani and Merton Miller. Both are popular with the formulation prepositions M & M I and II.

Modigliani and Miller mengasosiakan preposisinya in business institutions. We have shown a tendency directed the state’s financial management such as financial management firms. This is because the financial management of companies judged more efficient, transparent, and effective.

Preposition M & M I stated, the value of an institution does not depend on the structure of capital, whether debt or increase the capital injection from its shareholders. A company that decides to finance its business by 70 percent debt and 30 percent of the company’s capital injection is the same value, although the composition is reversed, 30 percent debt and 70 percent of shareholder capital.

In the realm of state finances, shareholders are the people. The contribution of the people as a shareholder done through tax payments. The greater the tax paid, the lower the dependence of these countries from debt.

European zone facing a difficult situation because of their debt burden increase, while the lower tax payments because people depressed global financial crisis that hit since the end of 2008.

Ironically, the debt is taken in large numbers in 2009 are used to restrain the impact of worsening of the crisis, in the form of fiscal stimulus. However, the fiscal stimulus was not able to sustain significant economic recovery.

Then, in which the position of Indonesia in 2010? Government bond issuance target Rp 175.6 trillion. This is much higher than the total government bonds issued in 2009, ie Rp 144 trillion.

Judging from the ratio of debt to GDP will be no decrease it. Nominal GDP in 2009, in the position of USD 5401.6 trillion, while GDP in 2010 to $ 5981.37 billion.

With the increasing debt value, debt to GDP ratio is expected to fall from 30 percent in 2009 to be lower in 2010. This means, of funds derived from debt will be less in sustaining economic growth and operations of government.

But, back to the prepositions M & M I, shareholders do like the choice of debt because it would raise income per share owned. However, they also must be ready with another situation, namely a secondary party.

This is because any profits received by the company must first be used to pay obligations to bondholders or creditors, just next to shareholder dividends.

Thus, the more debt the government would take greater state revenues used to pay interest and principal debt. The rest had other needs, including building infrastructure, social welfare, and so on.

Second preposition

On Preposition M & M II, Modigliani-Miller warned of the risk for companies that continually push new debt. The greater the debt is taken, the higher the cost will be paid if deemed defaulted.

Shareholders are not satisfied if some of its earnings eroded by the number of debt to be paid. This means, the government needs to take into account the cost of bond issuance and withdrawal of debt that will appear along with the withdrawal of new debt.

In 2009, the Ministry of Finance noted the cost savings bonds and the issuance of debt of about Rp 15 trillion.

However, the total cost of bond issuance and withdrawal of the debt was Rp 95.49 trillion. This is relatively high because almost equivalent to nine times the budget of commodity price stabilization programs that only Rp 10 trillion. Budget represents the cost of infrastructure in 2010, ie Rp 93.35 trillion.

Finance Minister Sri Mulyani Indrawati has said, every penny of the debt should be obtained for investment. With the investment, every penny can provide greater benefits from an initial capital.

However, it seems that the Indonesian people still need to be patient because the ratio of debt to GDP is still about 30 percent. It takes extra efforts to boost tax revenue to be the only source of replacement debt.

Per 30 September 2009, for example, the number of loans that have been disbursed for a motor vehicle loans Rp 7.5 trillion, an increase of 25 percent compared to the same position the previous year. This amount contributed 33 percent of the total credits Retail Bank Niaga.

Thus disclosed Business Banking Director, CIMB Niaga Handoyo signing Soebali dealer financing cooperation with PT Mazda Motor Indonesia (MMI) Monday (1/2/2010). In the cooperation, CIMB Niaga helping working capital needs of Mazda dealers in the purchase of vehicles from the MMI as Sole Agent Brand Holder (ATPM).

For MMI, this funding helps dealers mazda to stay focused on increasing population and vehicle sales to provide certainty of payment to MMI. As for CIMB Niaga, this cooperation is expected to increase the loan portfolio to the automotive sector and strengthen its position in the automotive value chain.

“We are optimistic that vehicle sales in 2010 better than 2009. Belief is supported by several factors, such as Indonesia’s economy improved and increased purchasing power,” said Handoyo Soebali. According to him, similar k erjasama will continue to be developed with other ATPM in Indonesia.

In the meantime, Yoshiya Horigome, President of MMI said, Indonesia’s automotive industry remains one of the potential and strong in facing the challenges the automotive market compared to other Southeast Asian countries.