Enseval Settles US$ 30.7 Million Debt
Bisnis Indonesia, page B2, 2006-10-07
PT Enseval Putera Megatrading has settled its US$ 30.7 million debt to syndicated bank under the co-ordination of Royal Bank of Scotland, Singapore. Although the payment was not due until 2010, the company decided to pay in US$ 5 million main installment as the debt restructure were approved until May 2006. In June 2006, the company has paid US$ 12 million and US$ 13.7 million in September 2006. Hence, per 29 September 2006, the company no longer has any debt.

Kalbe, Dankos, and Enseval Merger Approved
Koran Tempo, page A20, 2005-11-30
Shareholders approve of the merger among PT Kalbe Farma Tbk, PT Dankos Laboratories Tbk, and PT Enseval. If all goes well, the merged company’s shares will be effective on January 2 2006 in the stock market. One Dankos note will be convered to 1.34 Kalbe notes. One Enseval note will be converted to 12,998.8 Kalbe notes. For the shareholders who do not approve of the merge, their shares will be accepted by the company, represented by PT Kresna Graha Sekurindo. Every Kalbe share will be worth Rp.850, Dankos Rp.1,140, and Enseval worth Rp.11 million per share. With this merge, Kalbe Farma will issue new 2 million new shares, from 8.12 billion to 10.16 billion shares. Kalbe Farma and Dankos shares owned by the public (less than 5 percent) decreased from 59.1 percent to 36.87 percent. The assets from the three companies before the merge will also drop from Rp. 9.54 trillion to Rp.4.8 trillion. Kalbe Farma predicts a growth increase of 15 percent. Sales and profit are hoped to increase 18 percent. The post-merger capitalization is hoped to exceed US$1 billion from its current position of US$700 million.