As many as 98.4% of PT Waskita Karya (Persero) Tbk’s creditors are known to have approved the restructuring scheme and the remainder is in process. It is believed that this approval will immediately pave the way for the restoration of the BUMN works.

It is known that Waskita Karya has an outstanding bank debt value in the master restructuring agreement (MRA) reaching IDR 26.02 trillion. BUMN observer from the University of Indonesia (UI) Toto Pranoto said that restructuring approval by creditors was important to carry out the strategy and start an action plan for future business recovery.

“Management’s focus can be more towards the restructuring that will be carried out and the completion of ongoing projects, as well as strategic steps such as business portfolio focus plans, as well as other corporate action plans in order to improve performance,” said Toto when contacted, Sunday (4 /2/2024).

According to him, the government has tried extra hard to save Waskita Karya. This is because the role of BUMN is considered strategic, especially to complete various projects, including the National Strategic Project (PSN).

The same thing was expressed by WSKT SVP Corporate Secretary Ermy Puspa Yunita. He said that restructuring approval was an important point because after that phase, this BUMN Karya had the ability to manage cash flow to produce a sustainable operational cycle.

“Apart from that, it can help the company complete its obligations to all creditors, including banks, bond holders and vendors,” he said.

The government also continues to support Waskita Karya’s restructuring efforts through State Capital Inclusion (PMN) and construction support for the completion of work on the Bogor-Ciawi-Sukabumi, Kayu Agung-Kapal Betung and Bekasi-Cawang-Kampung Melayu toll roads.

For information, PT Sarana Multi Infrastruktur (Persero) (PT SMI) has officially acquired 25% of the shares of PT Waskita Toll Road (PT WTR), a subsidiary of PT Waskita Karya Tbk (WSKT), in PT Trans Jabar Tol (PT TJT). The entry of PT SMI as a shareholder of PT TJT aims to accelerate the completion of the next construction of the Bocimi Toll Road, namely the 13.7 km long Cibadak-Sukabumi Barat section.

A number of United States (US) and Canadian companies, mostly in sectors such as technology and media, are starting 2024 by laying off employees. This step was taken in an effort to reduce costs amidst an uncertain economy. Quoting Reuters, Saturday (10/2/2024), here is an overview of the layoffs that have been announced so far in 2024: Sector Technology – Amazon, layoffs include less than 5% of employees at its Buy with Prime unit, 5% at its audiobook and podcast division Audible, several hundred at its streaming and studio operations, 35% at its streaming unit Twitch and several hundred at its healthcare units One Medical and Amazon Pharmacy. – Alphabet, cutting dozens of employees in its new technology development division X Lab, hundreds in its advertising sales team, hundreds across teams, including the hardware team responsible for Pixel, Nest, and Fitbit, and a majority in the augmented reality team. – Microsoft, cutting about 1,900 jobs in its Activision Blizzard and Xbox gaming divisions. – IBM, unveils new plans to lay off some employees by 2024, but will hire more for AI-centric roles. – eBay, plans to cut about 1,000 jobs, or about 9% of its current workforce. – Unity Software, preparing to cut about 25% of its workforce, or 1,800 jobs. – DocuSign, plans to reduce 6% of its current workforce or about 400 employees, with the majority of layoffs in its sales and marketing organization. – Snap, plans to cut about 528 jobs, or 10% of its global workforce. – Salesforce, laid off about 700 employees, or about 1% of its global workforce. – Cisco plans to restructure its business, including laying off thousands of employees. – Aurora Innovation, laid off 3% of its workforce. Read Also Profile of the Hung-A Cikarang Tire Factory which went Viral Due to the Layoff of Thousands of Employees Media Sector – Walt Disney’s, Pixar Animation Studios will cut jobs as the studio has finished production on several shows and has more staff than needed. – Comcast, British media group Sky plans to cut around 1,000 jobs across its businesses this year. – The Los Angeles Times plans to lay off 94 journalists who are members of the newspaper’s union. – Paramount Global, plans to carry out an unspecified number of layoffs. – Business Insider plans to lay off about 8% of its staff. – Bell Canada, plans to cut 4,800 jobs. Financial Services Sector – PayPal Holdings, plans to cut about 2,500 jobs, or 9% of its global workforce this year. – Block Inc, has begun cutting unspecified jobs as part of a previously disclosed plan. – Citigroup plans to reduce the number of employees by 20,000 people over the next two years. – Nasdaq, unveiled new plans to cut hundreds of jobs as it integrates fintech company Adenza into its business. – BlackRock, will cut about 3% of its current workforce, although it expects to have a larger headcount by the end of 2024. Consumer and Retail Sector – Estee Lauder, unveils new plans to cut 3% to 5% of its global workforce. – Wayfair, plans to lay off 1,650 employees or around 13% of its workforce. – US department store chain Macy’s, by cutting 2,350 jobs and closing five stores. – Levi Strauss & Co, plans to cut 10% to 15% of global corporate jobs. – Hershey, plans a restructuring that will impact less than 5% of its workforce.

Where else can a shop dare to give discounts on electric bicycles of up to millions of rupiah if not Transmart ? You can get discounts of millions of rupiah if you shop now specifically for the Full Day Sale which lasts two days, on Saturday (10/2) and Sunday (11/2).
For those who haven’t had time to go to the Full Day Sale, tomorrow is the right time to buy a cheap electric bicycle at the nearest Transmart.

Meanwhile, the Exotic Scooter HB 320 electric bicycle is from the normal price of IDR 4,100,000, the discount is IDR 3,181,600 per unit, valid for purchases at all Transmart outlets outside Java. Buyers save IDR 918,400.

Then, the Exotic E-Bike Fastron electric bicycle from the normal price of IDR 4,900,000, discounted to IDR 3,606,400 per unit specifically for purchases at Java Island outlets. Buyers save IDR 1,293,000.

Meanwhile, the Exotic E-Bike Fastron electric bicycle is from the normal price of IDR 5,200,000, with a discount of IDR 3,827,200 per unit specifically for purchases at outlets outside Java. Buyers save IDR 1,372,000.

Not only electric bicycles, Ride On & Tricycle children’s bicycles are also discounted up to 30% starting from just IDR 300 thousand, valid on Java. Meanwhile, outside Java, Ride On & Tricycle is priced starting at IDR 310 thousand.

Customers can get all discounts on electric bicycles and children’s bicycles by paying using Allo Prime, Allo Pay Later, Bank Mega Credit Card and Mega Syariah.

For Transmart customers who don’t have an Allo Bank, Bank Mega Credit Card, or Mega Syariah, there’s no need to worry. You can immediately download the application from your cellphone or apply for instant credit card opening.

The way to download Allo Bank is available on the App Store or Play Store, then register an account and upgrade to Allo Prime.

After upgrading, continue to apply for Allo Pay Later, the activation process is fast and you can immediately get a large limit. Later, this limit can be used on the same day for shopping at Transmart.

Another alternative is to apply to open a Bank Mega or Mega Syariah Credit Card instantly at the booth available at every Transmart outlet.

Come on, get ready to go to Transmart tomorrow and bring home the electric bicycle of your dreams!

The most popular economic and business news throughout Friday, February 9 2024 started with the Spokesperson for the Anies Baswedan Winning National Team (AMIN) Muhammad Ramli Rahim asking Prabowo Subianto not to intimidate fishermen who complained to presidential candidate Anies.

Then there was information regarding the former President Commissioner of PT Pertamina (Persero), Basuki Tjahaja Purnama or Ahok, who admitted that he had been summoned by President Joko Widodo or Jokowi and then appointed as one of the candidates for Head of the Archipelago Capital Authority (OIKN).

Apart from the news about commemorating the Chinese New Year celebration on Saturday, February 10 2024, a number of brands are providing attractive promotions and discounts. Some of these brands include Cinema XXI, CGV, and Cinepolis. The following is a summary of the three news:

1. Prabowo satirizes fishermen as PKS legislative candidates, National Team AMIN: Is there anything wrong with fishermen becoming legislative candidates?

Spokesperson for the Anies Baswedan National Winning Team (AMIN) Muhammad Ramli Rahim asked Prabowo Subianto not to intimidate fishermen who complained to presidential candidate Anies. A video clip of a person named Sappe who claims to be a fisherman complaining to Anies is circulating widely on social media.

Prabowo said the fisherman deserved to receive the Citra Cup award as a soap opera star because he was recently discovered to be a legislative candidate from PKS, Anies’ party. 

“It is being proposed to receive the Citra Cup. I am even proposing to receive an Oscar. That’s not bad, he doesn’t need to be a legislative candidate, he should be a soap opera star,” said Prabowo in a big campaign at the Gelora Bandung Lautan Api Stadium, Bandung, West Java on Thursday, 8 February 2024 reported by Antara. 

NYC native Lee Delray wields a soulful voice and an even more soulful guitar approach. He unleashes his full blues rock onslaught on his latest effort, Brand New Man. He is also a very talented songwriter who is able to connect with audiences on a number of levels.

The album kicks off with a strong and spirited track, “Meet My Maker.” Delray lays down a steady I-IV-V pattern while stating his slide guitar prowess from the outset. This track establishes right away that this is, indeed, a young master at work. That is followed by a standard popularized by everyone from Albert King to Kenny Latimore called “I’ll Play the Blues for You.” This is smooth urban blues, with a jazzy feel and some nice conversational rap from the leader in the mid-section. Along these lines, Delray continues that rap/blues hybrid on “First-String Man.” His guitar establishes a Stevie Ray Vaughan-meets-Jimi Hendrix kind of vibe and pairs that with embellishments from the hip-hop team of Young Chizzy and Deejay NoGood. It’s an unlikely musical marriage, perhaps, but one that works and really pays off well.

photo courtesy of Frank Roszak Promotions

Delray writes catchy hooks and really has a flair for melody and succinct thoughts and lyrics. This is most evident on the seemingly autobiographical “Blues Came Callin’.” He picks up the pace for the follow up “Love Line.” This is a funky number that features tasteful note choices delivered in a Carlos Santana/Coco Montoya manner. “Cookin’ in My Kitchen” is one of those typical love and suspicion kind of songs. It’s a shuffle, with a lot of attitude and spark. “Hollar” is just like the title sounds; blues with a raw exclamation point! It continues that rough and tumble shuffle style that really smokes. Delray unloads some wicked slide guitar work here, as well.

“Gotcha” follows and is pure Chicago-styled swing. Kudos go to the leader’s trusty rhythm section of bassist Scott Ward and drummer Ken Conklin, who really lay it down here. “Mine All Mine” is a very syncopated R&B-influenced track somewhat reminiscent of Robert Cray or Delbert McClinton; a strong funky underpinning that’s perfect for dancing or jamming. And that brings us to, not the least, but the last track, “Yesterday’s Tears.” This is a tune that could easily be a hit on country, pop or r&b charts. Mike “Sweetharp” Smith’s harmonica and Lenny Hayden’s acoustic guitar give this a very appealing back porch/Dobie Gray type feel.

Lee Delray is, simply, the complete package. He is extremely versatile, able to assess his audience and their needs. And he truly delivers, whether the song calls for rock, country, jazz, funk and, in the case of the aforementioned “First-String Man,” even hip-hop. He is an artist with a sense of adventure, yet he still has his finger on the pulse of appealing to his fan base. I’m sure he will generate a number of new fans too with his latest, Brand New Man.

Upcoming Live Gigs

Lee is scheduled to perform on December 9th at The Lakeside in Saylorsburg, PA; on January 28th at The Brown Pelican in New Bern, NC; on January 30th live on-air at the Raeford Morning Show in New Bern, NC; and at the All Day International Blues Challenge in Memphis, TN (January 31st through February 4th). Check his website for additional live dates as they are added.

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