“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Wednesday, August 26, 2009

Indonesia's Garuda says plans to raise up to $400 mln in IPO

Reuters, Wed Aug 26, 2009 7:32am EDT

JAKARTA, Aug 26 (Reuters) - Indonesia's flag carrier PT Garuda Indonesia plans to raise up to $400 million in an initial public offering in June next year to fund its expansion, a senior executive said on Wednesday.

President Director Emirsyah Satar told Reuters that the firm plans to hold the IPO in June 2010, but details of the offering, such as the percentage of shares that are going to be privatised and the underwriter, are still being discussed.

"The target is to raise $300 million to $400 million, which will be used to strengthen our capital structure as well as for expansion," said Satar.

Indonesia's airline industry has been hit by several serious accidents in recent years, prompting the European Union to ban all Indonesian airlines from entering its airspace.

Garuda was one of four Indonesian airlines to be taken off the list of banned airlines recently, following safety improvements, and it now hopes to start flights to Amsterdam.

Analysts said the IPO would probably be well-received as Garuda may benefit from rising demand for domestic air travel.

"Garuda's IPO will really support the firm's financial condition as the funds raised from the IPO can be used to pay (down) its debt, decreasing the burden and making it possible to buy new planes for expansion," said Norico Gaman, head of research in brokerage firm PT BNI Securities.

Garuda is in the process of restructuring its debts, which it expects to complete in two months.

Gaman also said the IPO would encourage good corporate governance and efficiency, enabling the airline to compete in Indonesia's crowded airline market.

Transportation ministry data shows there are 15 scheduled commercial airlines in Indonesia, some of which also serve international routes. In September 2008, an Indonesian parliamentary commission approved the government's plan to privatise several state firms including Garuda, but the global financial crisis meant share sales were postponed. (Reporting by Tyagita Silka; Editing by Sara Webb)

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