State telecommunications company PT Telkom said Tuesday (30\/1\/07) it plans to invest Rp27.81 trillion ($3.1 billion) this year to develop its telecommunication businesses and services.<\/p>\n
The company said in a statement that 2007 capital expenditure is 34% larger than last year's Rp20.8 trillion, Dow Jones Newswires reported.<\/p>\n
The statement, presented during a session between Telkom's management and legislators, also said that Telkom's 2006 unaudited net profit is estimated at Rp10.8 trillion, up 35% from Rp7.99 trillion a year earlier.<\/p>\n
The 2006 unaudited figure includes Rp1.7 trillion accrued for compensation for an early retirement program for 2,000 staff members, which analysts say is aimed at making the company more efficient.<\/p>\n
Telkom is expected to announce its 2006 audited earnings in March.<\/p>\n
The company also said it plans to sell 51 million shares to its management and employees, via a stock option plan, XFN-Asia reported.<\/p>\n
Telkom said it will seek shareholders\u2019 approval for the options plan during a meeting slated for February 22. It wants to use the shares that it purchased via a buyback program for the stock options.<\/p>\n
Under the buyback program, lasting until June 21, the company is authorized to gain back not more than 1 billion shares, or 5% of its paid-up share capital. It has so far repurchased 121 million shares.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/telkom-to-invest-rp2781t-in-2007-1170864606", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }