Latest news with #Cengkareng
Forbes
16 hours ago
- Business
- Forbes
Billionaire Chairul Tanjung-Backed Garuda Indonesia Gets $408 Million Loan From Danantara
Garuda Indonesia aircraft outside a hangar at the company's maintenance facility at Soekarno-Hatta ... More International Airport in Cengkareng, Indonesia, on Thursday, June 30, 2022. Photographer: Dimas Ardian/Bloomberg Garuda Indonesia received a 6.65 trillion rupiah ($408 million) loan from the country's sovereign wealth fund, Danantara Indonesia, to help support the turnaround of the cash-strapped flag carrier. The loan that will be disbursed by Danantara Asset Management is part of a $1 billion financing package that will help support Garuda's recovery, and fund the maintenance, repair, and overhaul of the airline's fleet, according to a statement released on Tuesday. 'With the support of Danantara Indonesia, Garuda Indonesia projects the strengthening of operational capabilities through business and performance optimization, so that it can strengthen Garuda Indonesia's position as a world-class airline,' Wamildan Tsani, president director of Garuda said in the statement. In a separate filing to the Indonesia Stock Exchange, Garuda said that 4.8 trillion rupiah ($294 million)—over 70% of the loan—will be allocated to Citilink, to support maintenance of the low-cost carrier's fleet and ensure the planes are operationally ready. Garuda—which is jointly owned by the government (whose stake has been transferred to Danantara) and billionaire Chairul Tanjung—has struggled with debt and financial problems for years. In 2023, it restructured $10 billion in debt but still needed government support to stay afloat. The airline's revenue rose 16% to $3.4 billion last year, but it still ended the year with a $69 million net loss, compared with a $252 million net profit the previous year. The airline, which operated 139 planes and served over 23 million passengers last year, appointed Tsani—a former top executive at rival Lion Air—as its new CEO last November, in an effort to turn around the loss-making company. Tanjung, who controls the diversified CT Corp., has an estimated net worth of $4.3 billion, according to Forbes' real-time data. Through his company Trans Airways and a small direct stake, Tanjung holds an 8% combined stake in Garuda. CT Corp. is best known for its credit card business, hypermarkets and TV station ownership. The conglomerate also controls Allo Bank Indonesia, one of the country's largest digital banks.
Yahoo
12-06-2025
- General
- Yahoo
WePlay Fulfills Social Responsibility, Launches "WePlay Berqurban" Qurban Charity Activity in Indonesia
JAKARTA, Indonesia, June 12, 2025 /PRNewswire/ -- To promote the spirit of Islamic compassion and convey festive warmth, the next-generation social gaming platform WePlay officially launched the "WePlay Berqurban" Eid al-Adha charity activity in Jakarta, Indonesia. This initiative focuses on the significant Islamic festival of Eid al-Adha (Qurban), engaging deeply with local communities. Through donations and distribution ceremonies, WePlay aims to convey care and blessings to families in need. On June 7 at 9:00 AM, WePlay representatives formally handed over 1 cow and 2 goats—healthy livestock compliant with Islamic law requirements—to the management of Musholla Baitul Rahman Mosque in Cengkareng, West Jakarta. These animals became sacred gifts for festive sharing. By donating ritual livestock, WePlay transformed religious values into tangible social care, providing warmth and respect to vulnerable groups while embodying its corporate ethos: "Nourishing Communities through Acts of Kindness." "We deeply understand the sacred significance of Eid al-Adha for our Muslim brothers and sisters. 'WePlay Berqurban' is not merely a material donation; it represents WePlay's commitment to community care and cultural respect," a WePlay representative stated, "Choosing Musholla Baitul Rahman as the venue ensures our contribution directly benefits local neighbors. We hope this shared faith-based goodwill brings a blessed and joyous celebration to recipient families." The Head of the Musholla Baitul Rahman Mosque expressed sincere gratitude for WePlay's act of kindness: "We are immensely grateful to WePlay for their incredibly generous donation to our community during the sacred Eid al-Adha. This sacrificial provision is not just a precious gift, but also a vivid embodiment of the Islamic spirit of sharing and caring for the vulnerable. WePlay's kind-heartedness and action have genuinely warmed our community and demonstrated the company's profound understanding and respect for local culture and religious values." This charity initiative marks another step in WePlay's active fulfillment of corporate social responsibility and promotion of cross-cultural exchange. Moving forward, WePlay will continue engaging in diverse social welfare endeavors, translating love and hope into action to build a more harmonious society. About WePlay WePlay, a global social entertainment platform under Singapore-based Wejoy, integrates games, entertainment, and social features. With a mission to "Bring joy and friends to young people around the world" and a vision to "Bring people together through games, lead the trend of global online social entertainment," WePlay is committed to co-create an innovative era of gaming and social experiences. View original content to download multimedia: SOURCE WePlay Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
