BDNI Capital expects robust growth<\/p>\n
JAKARTA (JP): The publicly listed PT BDNI Capital Corporation
\nexpects a 180.3 percent rise in its consolidated net profit this
\nyear to Rp 185 billion (US$75.81 million) from Rp 66.01 billion
\nlast year.<\/p>\n
BDNI Capital's president, Sujitno Siswowidagdo, said yesterday
\nhe was optimistic that the targeted amount would be achieved
\nbecause of the expected profit increase of its recently acquired
\nsubsidiary, Bank Dagang Nasional Indonesia (BDNI).<\/p>\n
"Last year our net profit rose by 123.3 percent from Rp 29.56
\nbillion in 1995, and a large part of it came from only a month's
\ncontribution from BDNI," Sujitno said after the company's joint
\nannual and extraordinary shareholders meeting.<\/p>\n
He said BDNI Capital, a financial services holding company for
\nthe Gajah Tunggal Group, had already booked Rp 61 billion in
\nconsolidated net profit during the first quarter of this year.<\/p>\n
"The amount is already almost as high as last year's net
\nprofit," he said. Most of the increase came from the banking
\nsector, namely BDNI, he added.<\/p>\n
Last year BDNI Capital bought a 51.8 percent stake in Bank
\nDagang Nasional Indonesia, thus making the bank the ninth company
\nwhose majority stake is owned by BDNI Capital.<\/p>\n
The acquisition raised the company's assets to Rp 17.63
\ntrillion last year from Rp 770.1 billion in 1995, he said.<\/p>\n
The company's equity also jumped by 289.9 percent last year to
\nRp 1.05 trillion, he said.<\/p>\n
Sujitno said the equity rise came from an increase in the
\ncompany's paid-up capital to Rp 720.72 billion from Rp 160.16
\nbillion, some of which came from the proceeds of its third rights
\nissue last year, he said.<\/p>\n
Its shareholders approved yesterday to distribute a dividend
\nof Rp 36.03 billion or 54.6 percent of its net profit.
\nShareholders are to receive Rp 50 per share.<\/p>\n
Separately Asuransi Dayin Mitra, an insurance arm of the
\ncompany, announced yesterday it booked Rp 12.33 billion in net
\nprofit last year, up 48.1 percent from Rp 8.33 billion in 1995.<\/p>\n
Dayin said its premium income rose to Rp 18.86 billion last
\nyear from Rp 14.52 billion in the previous year.<\/p>\n
Dayin's shareholders agreed yesterday to distribute Rp 2.70
\nbillion, or Rp 135 a share, in dividends.<\/p>\n
At both companies' meetings, shareholders also agreed on the
\nproposals to split the nominal price of their companies' shares
\nto Rp 500 from Rp 1,000.<\/p>\n
The stock split would double the number of BDNI Corp's shares
\nto 1.44 billion shares and Dayin Mitra's to 40 million shares.
\n(das)<\/p>",
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