Jul 13, 2010

Bakrie puts Rp9.07 trio in Bank Capital

Indonesia Stock Exchange (IDX) will investigate cash and time deposits worth Rp9.07 trillion saved by Bakrie Group in PT Bank Capital Indonesia Tbk (BACA).
"We will invite Bank Capital and management of Bakrie Group in relation to Bakrie Group deposits in Bank Capital," said IDX Director Eddy Sugito said as reported by Detikfinance today.       
In March 2010 financial statement, Bank Capital booked Rp3.75 trillion of total asset and managed third parties deposit and saving worth Rp2.69 trillion.
The fact is 7 publicly listed of Bakrie Group have put cash and time deposits worth Rp9.07 trillion in Bank Capital. The question is where is the remaining Rp6.38 trillion?
Based on March 2010 financial reports, each company under Bakrie Group has reported cash and time deposits in Bank Capital. Here is the detail:

PT Bakrie & Brothers Tbk (BNBR) has put time deposit worth Rp3.76 trillion in Bank Capital.

PT Bakrie Sumatera Plantations Tbk (UNSP) has put time deposit worth Rp3.50 trillion in Bank Capital.

PT Energi Mega Persada Tbk (ENRG) has put time deposit worth Rp1.14 trillion in Bank Capital.

PT Bakrie Telecom Tbk (BTEL) has also put cash and time deposit worth Rp255.95 billion in Bank Capital.

PT Bakrieland Development Tbk (ELTY) has put cash and time deposit worth Rp210.87 billion in Bank Capital.

PT Darma Henwa Tbk (DEWA) has put cash worth US$21.05 million in Bank Capital.

PT Bumi Resources Tbk (BUMI) has put cash of US$1.09 million in Bank Capital.

Bank Capital is owned by Danny Nugroho (21.70%), Mount-8 HoldGS offshore Ltd (19.86%), Inigo Investment Ltd (15.44%), Zen Gem Investment Ltd (14.34%), TFI (X)-TRA Ordinary I (11.86%), and public holders (16.80%).
 
Disclosure: No position at the stocks mentioned above.

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