Plaza Indonesia to issue rights shares<\/p>\n
JAKARTA (JP): PT Plaza Indonesia Realty, the owner of the
\nJakarta Grand Hyatt hotel which posted a net profit of Rp 23.9
\nbillion (US$11.16 million) last year, will make a rights issue of
\n115 million shares at a price of Rp 1,750 each.<\/p>\n
The planned issuance, which was approved by an extraordinary
\nmeeting of shareholders yesterday, will enable a holder of two
\nshares to buy a new share.<\/p>\n
Plaza Indonesia's corporate secretary, Sylvia Ratulangi, told
\na press conference that 70 percent of the funds to be raised by
\nthe rights issue will be used for repaying the company's long-
\nterm debt and the remaining 30 percent for increasing its working
\ncapital.<\/p>\n
The issuance of these new shares will increase the company's
\npublic stocks from 230 million to 345 million shares, each with a
\nnominal value of Rp 1,000.<\/p>\n
Sylvia said at the annual shareholders meeting, which was
\nchaired by company president Bambang Trihatmodjo, a son of
\nPresident Soeharto, the company reported a 128 percent increase
\nin net profits and a 6.1 percent increase in sales turnover to Rp
\n124.4 billion.<\/p>\n
She said Grand Hyatt Jakarta last year continued to maintain
\nits status as a top-level hotel, with an average increase in room
\nrates by 2.5 percent to $200.7.<\/p>\n
Sylvia said the occupancy rate of the company's Plaza
\nIndonesia shopping mall was 99.1 percent last year, up by 0.5
\npercent from 1992. The mall grossed Rp 286 million in revenues
\nlast year, a one percent increase from the previous year.(10)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/plaza-indonesia-to-issue-rights-shares-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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