Bakrie Securities returns

Sat, 25 Jul 1998, 00:00 WIB | Source: JP

JAKARTA (JP): PT Bakrie Securities, a brokerage arm of the
Bakrie Group, announced yesterday it had resumed operation on the
Jakarta Stock Exchange after it was temporarily suspended due to
inadequate net weighted working capital.

Company president Krisnaraga Syarfuan said in a statement that
the company had disbursed some of its portfolio investment
holding for total fresh funds of Rp 1.5 billion, above the
required minimum level of Rp 700 million.

Krisnaraga said the firm was suspended because its net
weighted working capital fell below the minimum level after one
of its clients, also a securities house, failed to settle
payment.

"With that happening, the board of directors has taken
internal measures to prevent such an event from happening again,
with improved risk management and conservative cash management,"
the firm said. (rid)

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