Jul 21, 2010

Bakrie plans to pay Rp270 billion repo

Holding company of Bakrie Group PT Bakrie & Brothers Tbk (BNBR) plans to pay repurchase agreement (repo) transaction worth Rp270 billion to some third parties. The company will use money from investment's return of US$52 million obtained in October to pay the repo.
BNBR's finance Director Eddy Soeparno, as quoted by Kontan daily today, said the company has put investment worth US$36 million in 2008 with 24% return. "We put our money in hedge fund companies," he said.

Disclosure: No position at the stock mentioned above. 

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