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PT Asia Natural Resources Tbk disclose revenue during 2009 because no suitable target tin prices lower than expected.

Director of Asian Natural Lay tells Stanislaus company revenue target for 2009 reached Rp600 billion, but who realized in the amount, which is Rp151 billion.

“Because the price of tin dropped the financing facility for exports of these commodities are not in use. Previously, we have the facility of ASEI subsidiary based in Singapore, “he said today.

According to the Stanislaus, the company this year will focus on the coal business, and has obtained a loan commitment of U.S. $ 10 million from Singapore’s financial institutions.

Last month, the company recently signed contracts for coal sales to Siridi Sai Goodearth International Pte Ltd.. In this contract, the company should be supplying coal to the company by 50,000 tons per month, with gains from the sale of U.S. $ 3 million per month.

Of these contracts, companies get coal revenue of U.S. $ 36 million.

Company’s revenue this year set to reach Rp1 trillion, of which targeted a net profit of Rp50 billion. The amount is experienced jumps from last year recorded an income of only Rp151 billion

Financing Companies Association of Indonesia (APPI) is still projected growth of the company’s assets this year multifinance Rp200 trillion.

Achievement considering the prediction of assets in November last year reached Rp173 trillion, approaching the highest levels that occurred in November 2008.

Chairman APPI Wiwie Kurnia said that multifinance asset growth beyond expectations because of slowing pertubuhannya had predicted earlier in the year.

However, after the semester II/2009, penetration and business expansion multifinance high enough along with a recovering economy that continues to increase assets. APPI December last year predicted could be closed Rp170-Rp175 trillion trillion.

“We still maintain our predictions about the asset multifinance because it strongly supports the economic conditions right now. Target assets of Rp200 trillion,” he told the press in Jakarta today.

Data Bank Indonesia as of November last year showed multifinance assets rose to Rp173, October 5 trillion of which only Rp168, 9 billion. In 2008, assets multifinance reached its highest level in November of Rp174, 1 trillion.

According to him, the current financial industry optimistic at this year along with national economic expectations are also growing.

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

Oversea-Chinese Banking Corporation Limited (OCBC Bank) officially completed the acquisition of ING Asia Private Bank Limited and its subsidiaries (IAPB) based in Singapore with an investment of around U.S. $ 1.45 million or $ 2.02 Sin million.

With the completion of the acquisition process, the IAPB now renamed Bank of Singapore Limited (the Bank of Singapore), officially became a subsidiary wholly owned by OCBC Bank.

Bank of Singapore will be led by Renato (Bing) de Guzman, who previously also served as CEO IAPB. All the Private Banking business activities IAPB and OCBC Bank will be merged and operate as Bank of Singapore.

Thus the Bank of Singapore will become a leading Private Banking in Asia which has more than 7.000 customers with total customer funds managed some U.S. $ 23 billion. This reinforces a unique position as the only Private Banking, headquartered in Singapore.

David Conner, CEO of OCBC Bank said the success of this acquisition marks an important milestone in our private banking activities. With increasing scale, will bring significant benefits both for customers IAPB Private Banking and OCBC.

“We are committed to continue investing in Private Banking business and provide services which better meet the needs of our customer’s high networth,” said David Conner, CEO of OCBC Bank in a press release yesterday.

Renato (Bing) de Guzman, CEO of Bank of Singapore, said he believed Bank of Singapore will continue to grow and reach a huge market today or in the future.

“We will always focus to attract some of the best Private Banking employees of existing and new to achieve long-term growth and professional development, as part of the OCBC Group.”

OCBC Bank, founded in 1912 and is a financial group by assets, the second largest in Southeast Asia. OCBC Bank have a long-term credit ratings of Aa1 from Moody’s.

OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and China. Having a network of more than 490 branches and representative offices in 15 countries and regions, including 390 branches and offices in Indonesia operated by OCBC Bank NISP as subsidiaries.

OCBC Bank’s subsidiary engaged in the Great Eastern Insurance Holdings, while other subsidiaries engaged in asset management services, Lion Global Investors, is one of the largest asset management companies in Southeast Asia.