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NEW UPDATES Asean Affairs  21 November 2014  





WOM Finance seeks Rp 800 billion from bonds

Publicly listed automotive financing firm PT Wahana Ottomitra Multiartha (WOM Finance) is looking to generate Rp 800 billion (US$65.98 million) from a bonds issuance for business expansion.

In a statement published on Wednesday, the company, a subsidiary of private lender Bank Internasional Indonesia (BII), said that it would issue two series of bonds, A and B.

The A series—aimed at generating Rp 300 billion in funds—will carry a 10.25 percent coupon rate and will mature after 370 days. Meanwhile, the B series—expected to raise the remaining Rp 500 billion—offer 11.25 percent interest and will mature in three years.

The bonds offering period will run Dec. 1 to 2. The debt papers have acquired an AA (double A) rating from rating agency PT Fitch Ratings Indonesia.

WOM has appointed PT Bahana Securities, PT HSBC Securities, PT Indo Premier Securities and PT Maybank Kim Eng Securities to underwrite the bonds issuance.

Funds generated from the debt papers will be used as working capital to finance WOM’s business, according to the statement. At the moment, WOM provides financing for motorcycle purchases.

By September, WOM booked Rp 619.16 billion in income from financing and Rp 41.07 billion in net profit.



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This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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