Nov 11, 2010

Bakrie aims to reduce Rp2 trio debts

Parent company of Bakrie Group PT Bakrie&Brothers Tbk (BNBR) aims to drag down Rp2 trillion debts by the end of 2010 in a bid to strengthen its financial.
Bakrie&Brothers CFO Eddy Soeparno said the company carried a total debt of Rp9 trillion as of June.
"We aim to reduce Rp2 trillion of our debts by using several schemes," he said in a press conference today.
The company plans to redeem its investments maturing in November 2010, providing attractive return.
Combined with proposed non-core assets disposal, Bakrie could bag cash for debt reduction.

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