Jakarta, Aktual.com – Vice Chairman of the House of Representatives Agus Hermanto assess the acquisition of PT. Newmont Nusa Tenggara (NNT) by PT. Medco International Tbk (Medco) need to be carefully reviewed. Because the company’s commitment to build mineral processing and refining facilities (smelter) must first be ascertained accomplished.
“The acquisition or others we have studied carefully. In the Act and coal are also not allowed to directly export of raw materials which we know Newmont has not yet processed through the smelter. Have to implement the Act. If not built smelter processes it is indicated violate the law,” he stated in the House of Representatives, Senayan, Jakarta, Tuesday (5/4).
Moreover, the two state banks namely Bank Mandiri and Bank Negara Indonesia (BNI) is reportedly ready to disburse loans to the consortium of Medco Group as a buyer Newmont. Agus reminded to examine more deeply the subject. Most importantly, said Agus, mandated by law to be implemented in Indonesia mining companies both local and foreign.
“We also need to look more in the (funds). But Newmont obligation to make a smelter remain to be implemented, because the law says so that still export raw materials yes violate the Act. Then we push Newmont and Freeport make smelter,” said Agus.
Related to the financing of this acquisition, the Bloomberg news that a consortium led by Agus Projosasmito a party seeking $ 3 billion or equivalent funding Rp41,7 trillion.
The consortium reportedly been approached by several banks to take over ownership of Newmont Nusa Tenggara.
Agus Projosasmito is a former investment banker who has over 30 years experience in the Indonesian capital market. He once sat in the management ranks Danareksa.
Besides Arifin of Medco, the consortium also involves Kiki Barki of PT Harum Energy Tbk (HRUM). Based on such information, in Medco no Yu Tjin (Sudjono Timan), which is a son in law Kiki Barki. Mentioned information sources, one of the owners Newmont is currently the Bakrie Group.
Then, based on data from state-owned bank loan debtors to China Development Bank (CDB) as much as $ 3 billion, Medco Group received loans worth USD395.000.000 of Bank Mandiri, valued at Rp5.1 trillion. Consisting of PT Medco E & P Tomori USD50,000,000, PT Medco Energy International Tbk USD245.000.000 and PT Medco Energi Internasional USD100,000,000. Widely circulated, the funds were used as a backup to acquire Newmont.
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