Multipolar raises capital

JAKARTA (JP): PT Multipolar Corporation, a retail firm of the Lippo Group, announced yesterday that it will increase its authorized capital from Rp 150 billion (US$63.9 million) to Rp 500 billion.

Multipolar said in a statement that the capital increase, together with a stock-split proposal, was approved by its shareholders Wednesday.

Company president Winardi Satiautra said that the planned capital increase will allow the company to be more flexible in planning expansions of its retail business. (alo)