Wintermar Group (IFC-30964)

Countries
  • Indonesia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 2, 2011
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
WINTERMAR OFFSHORE MARINE, PT TBK
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 155.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Corporate Actor Documents
Media Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 7, 2020

Disclosed by Bank Oct 3, 2011

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

Wintermar, established in 1970 as a tug and barge operator providing domestic loading and transportation vessel chartering services, is currently the largest domestic operator of OSVs in Indonesia.

Wintermar operates a diversified fleet of 66 owned vessels and operates an additional 11 vessels comprised of tug boats, landing crafts, crew boats, fast utility vessels, coal and oil transportation barges, anchor handling tugs, diving support vessels, harbor tugs and platform supply vessels, primarily servicing multi-national oil and gas exploration & production companies throughout Indonesia and the wider region.

The Company is planning to expand the existing fleet by 15 vessels at an estimated cost of $140 million, of which IFC is seeking to invest up to $60 million. The proposed uses of the proceeds include the funding of up to 8 of these 15 vessels.

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The total Project Cost is estimated to be $155.5 million, including $15.5 million for general and corporate purposes. IFC is considering an investment in up to 5 off-shore services vessels not exceeding US$60 million.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

The Company is publicly listed on the Indonesian stock exchange, with currently 36.23% owned by PT Wintermarjaya Lestari and 27.77% owned by PT Dwiprimajaya Lestari.

The Layanto family which has operated the Company since the 1970s controls the majority of the company, and is partnered with the Sujipto family which is strongly reputed in the Indonesian shipbuilding industry in Indonesia. The free float constitutes 25.11% of the company.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - PT Wintermar Offshore Marine Tbk Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

1/ The Project Contact

Contact: Pek Swan Layanto

Investor Relations Jln. Kebayoran Lama

No. 155 Jakarta 11560

Phone: 62-21-530 5201 / 5202 ext 401

Email: pekswan.layanto@wintermar.com

2/The IFC Contact

General IFC Inquiries

IFC Corporate Relations

Address: 2121 Pennsylvania Avenue, NW Washington DC 20433

Telephone: 202-473-3800 Fax: 202-974-4384

E-Mail: Webmaster

3/ Local Access for Project Documentation

Investor Relations Department

Jln. Kebayoran Lama No. 155 Jakarta 11560

Phone: 62-21-530 5201 / 5202 ext 401

Email: pekswan.layanto@wintermar.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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How it works