Trans TV and TV3 Fights Over Lativi
Bisnis Indonesia, page 1, 2005-08-08
Two television stations, Trans TV and TV3 from Malaysia, are competing against each other to take over PT Lativi Media Karya and also settle credit problems worth Rp 327.78 billion in PT Bank Mandiri Tbk. The two investors are in the middle of due dilligence process in observing Lativi. After the process in complete, the two investors will proceed to Bank Mandiri to propose the purchase of credit assets, which will be continued with ownership conversion of Lativi. Lativi is one of Bank Madiri’s debitors that received credit of Rp 327.78 billion for the period of 2001 to 2004. The High Court recently investigated the credit due to the suspicion of procedure disrepancies. As a result, 3 executives from Bank Mandiri and one from Lativi were put on observation. Trans TV is a television station owned by PT Para Inti Investindo, which holds 99.99% of shares, while the rest of the share is held by PT Para Investindo. The two companies are owned by Chairul Tanjung.