BBL Dharmala to sell bonds

BBL Dharmala to sell bonds

Jakarta (JP): PT BBL Dharmala Finance, a Thai-Indonesian
finance company listed on the Jakarta Stock Exchange, will issue
45 million bonus shares for its shareholders and float bonds
worth a maximum of Rp 100 billion.

The company said in a statement that the company's
shareholders, who met here Monday, agreed that each existing
share will be eligible for one bonus share with a face value of
Rp 1,000 for each, which will be distributed on June 19.

The shareholders also approved the distribution of a dividend
of Rp 200 for each of the existing shares on June 19.

The statement said the company will sell bonds with a total
value of not more than Rp 100 billion later this year to raise
funds for its financing activities.

BBL Dharmala Finance, a joint venture of Dharmala Group of
Indonesia and Bangkok Bank Pcl. of Thailand, reported a 71
percent increase in its before-tax profit to Rp 27.1 billion
(US$12.2 million) in 1994 from Rp 15.8 billion in 1993. Its total
assets increased by 74 percent to Rp 313 billion as of the end of
last year.(32)