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)