Aug 17, 2010

Danareksa issues bonds in October

State-owned financial company PT Danareksa (Persero) has mandated an affiliated underwriter PT Danareksa Sekuritas to arrange up to Rp500 billion bonds issuance.
Danareksa (Persero) President Director Edgar Ekaputra said that the company is scheduled to unveil rupiah denominated bonds in October or November this year.
"The proceed will be used to refinance bonds mature next year worth Rp320 billion," he said yesterday night. According to him, the company is underway to prepare June's audited financial report.
"We can't explain the bottom line. But, for sure, Danareksa (Persero) has posted a net profit at the end of June," Edgar said.
Danareksa Sekuritas is 99.99% owned by Danareksa (Persero). At the end of March this year, Danareksa was in red. It posted Rp2.23 billion net loss, abating from a year earlier of Rp27.88 billion.
Operating revenue rose 67.32% from Rp50.85 billion in the first quarter of last year to Rp85.08 billion in the first quarter of this year.

Disclosure: No position at the stock mentioned above.

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