KS Plan to Listing at IDX on September 2008

KS Plan to Listing at IDX on September 2008

State Minister for State Enterprises Sofyan Djalil had decide PT Krakatau Steel (KS) privatisation through new share initial public offering (IPO) at the latest on September 2008 to get IDR 2,05 trillion.

Though KS share would be sell in stock exchange but selling option through strategic sale still open for any party who has an interest to purchase the share.

Sofyan said KS share that would be divest about 5%, but government will prepare additional share for divestment maximum 40%.

Privatisation committee had plan to allow maximum 60% KS privatisation through IPO or strategic sale.

KS management propose 20% new share IPO plan to earn IDR 2,05 trillion fresh fund. the fund are part of total budget which will be use to finance IDR 8,62 trillion KS business development plan. Lack of fund, about IDR 5,22 trillion, will be fulfill through loan.

KS President Director Fazwar Bujang said the management will prepare the IPO in accordance with normal process. The latest financial audit will take 2 month to consolidate report from 10 subsidiaries, submit the document to Indonesia Capital Market and Financial Institution Supervisory Agency (BAPEPAM-LK) that take 45-60 days and appointment of underwriter.

Sofyan explain KS privatisation plan has been overpolitize. beside government plan are to increase KS production capacity to 5 million ton in near future.

Meanwhile, Alexander Rusli, expert to State Minister for State Enterprises also a KS commissioner said there are 4 investors who has an interest on KS and government had inform them about the plan to held IPO.

The investor are Pohang Steel & Co (Posco) South Korea, Blue Scope Australia, ArcellorMittal and Tata Steel.

Jazz on Sunday evening at Cascade Lounge Hotel Mulia

Jazz on Sunday evening at Cascade Lounge Hotel Mulia

Boring with television program on sunday evening, hotel mulia jakarta offer an alternative for lively sunday night with light pop jazz music .

Start from May 25 2008, at cascade lounge of lobby hotel mulia, Ireng Maulana and friends will perform from 8 pm to 12 pm in three session, one hour for each session with 30 minutes break.

An Indonesian jazz legend, Ireng Maulana said his band on sunday evening will present light pop jazz music to the hotel guest and public who have an interest to enjoy this music on Sunday with relax atmosphere.

Ireng further elaborate, mostly people think that jazz music is formal, but here we would like to provide the easy listening one.

Ireng Maulana and friends consist of seven musician, mostly senior Indonesian jazz player. Ireng himself on guitar, Rudy Subekti on drums, Sam Panuwun on piano, Ade on bas, Yuyun George on saxophone and two vocalists Sherly O and Jackie.

The band plans to bring guest musicians to the show for the sake of variety.

Adeeza Hamzah Communication manager Hotel Mulia said jazz music which performed by Ireng Maulana and Friends, initially would be for 2 months, if the response from the audience well, we would like to extend it every three month. 

Mostly in Jakarta, the jazz music performance held during workday, friday and saturday but on sunday its very rare.

Address
Cascade Lounge
Lobby Level
Hotel Mulia Jakarta
Jl Asia Afrika Senayan,
Jakarta, 10270
Phone : 021-574-7777 ext 4502