Sep 7, 2010

Bakrie & Brothers repo soars 455.89%

Holding company of Bakrie Group PT Bakrie & Brothers Tbk (BNBR) posted Rp416.92 billion repo (repurchase agreement) debt in the first half of this year, a 455.89% surge from Rp75 billion a year earlier.
In the financial statement published today, beside repo, the company also booked a 235.86% soar in short term loans from Rp868 billion in the first half of last year to Rp2.92 trillion in the first half of this year.
The company's net loss ballooned 143.12% in the first half of this year on the back of higher net interest charges.
Bakrie & Brothers posted Rp302.78 billion net loss from Rp124.54 billion net loss a year earlier. The company's net interest charges ballooned 430.81% from Rp171.07 billion in the first half of last year to Rp908.06 billion in the first half of 2010.
Disclosure: No position at the stock mentioned above.

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