Bakrie What Next ?

PT Bakrie & Brothers Tbk has planned to reorganize all the units as the company has planned to jump into energy and mining to strengthen the existing businesses of telecommunication, plantation and infrastructure.

In this regard it is possible for the company to arrange rights issue.

The President Director of Bakrie & Brothers Bobby Gafur Umar said the company is drafting its blueprint. "We will announce the blueprint in January," he said last week.

He said the company will review its rights issue plan in the first quarter of next year. "We see the opportunity to conduct rights issue but the market is unfavorable. We will review the plan."
Last year the company has planned to sell US$300 million bonds but the plan was cancelled on the unfavorable market.

Bobby said the company has been considering some new businesses "to strengthen the existing three businesses."

He also confirmed the company will pay some dividend for 2007 profit. "We want the shareholders to approve that, at least at the same percentage."

Bakrie & Brothers has planned to pay the dividend of IDR21.55 billion or 10% to the net profit of 2006 as much as IDR215 billion. But the Capital Market and Financial Institution Supervisory Board (Bapepam LK) has rejected the plan as it would violate Limited Liability Company Law.