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NEWS UPDATES Asean Affairs     January 23,  2017  

Jakpro reveals funding shortfall for constructing Asian Games projects

City-owned construction company PT Jakarta Propertindo (Jakpro) has said it has a financial shortfall of Rp 2 trillion (US$149.41 million) to construct three projects that are related to the 2018 Asian Games.

The shortfall did not include capital injection from the Jakarta administration that partly had already been disbursed, said Jakpro president director Satya Heragandhi as reported by on Friday.

He said his company had received Rp 1 trillion of a total 1.95 trillion that had been allocated in the Jakarta city budget.

To construct the three projects—construction of light-rapid transit (LRT) rail, renovation of a velodrome at Rawamangun sports complex in East Jakarta, and renovation of an equestrian facility in Pulo Mas, East Jakarta—the company needs Rp 6.1 trillion.

The LRT project cost Rp 5.2 trillion, the Rawamangun project costs Rp 513 billion and the Pulo Mas project Rp 400 billion.

To cover the shortfall, the company would propose an additional capital injection from the city administration, but if the proposal was rejected, the company would seek loans from the banks, said Satya.

Another alternative was to issue bonds with collateral of Rp 7 trillion to 10 trillion worth of assets owned by the company, he added.

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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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