Bakrie raises capital

Bakrie raises capital

JAKARTA (JP): An extraordinary meeting of shareholders from
listed PT Bakrie & Brothers approved yesterday the company's plan
to more than double its authorized capital to Rp 3.87 trillion
(US$1.33 billion) from 1.5 trillion.

However, the paid up capital remained at Rp 968 billion.

The firm's president, Tanrie Abeng, said yesterday that the
rise in authorized capital was aimed at anticipating and
accommodating the company's future expansion plan.

Tanrie also denied rumors yesterday that he wanted to resign
from Bakrie & Brothers.

"Just take a look ... I have never been absent for even one
day from Bakrie & Brothers," he said.

Tanrie said the rumors were groundless and he was still
committed to the company. (aly)