Firm gives bonus shares

JAKARTA (JP): PT Bakrie Sumatra Plantations has announced that it is to split its stocks and distribute bonus shares and dividends.

The company said in a statement that its annual shareholders meeting yesterday agreed to the company's plans to split stocks and issue bonus shares. For every five existing shares holders would be eligible to get nine bonus shares.

It also announced that it would distribute dividends of Rp 400 (US$US$0.17) per share, an Rp 50 increase on last year.

The company's net profit of Rp 33.3 billion in 1995 was an increase from Rp 24.2 billion in 1994, which mainly resulted from better world market rubber prices. These increased by 76.2 percent last year.

Its rubber production dropped to 22,629 tons last year from 22,745 tons in 1994.

Meanwhile, at the company's extraordinary shareholders meeting yesterday, Indra Usmansyah Bakrie was appointed as the company's new chief commissioner, replacing Soedjai Kartasasmita. (rid)