Jaka Inti Realtindo Tbk., PT

Jaka Inti Will Conduct A Rights Issue
Bisnis Indonesia, page B1, 2006-09-23
PT Jaka Inti Realtindo Tbk will issue 3.21 billion rights issues with a right to pre-order stock to seek fresh funds in the amount of Rp.468 billion. Minority shareholders who use their right to purchase the new shares will be given the right to receive an exchange rights certificate (SHT), which can be traded in for land or building. The price of the new B series shares is set at Rp.150 per note with a ratio that the holder of an old share has the right to buy six new shares. The fund from the rights issue will be used to take over three property companies, pay off all three and strengthen working capital. The three companies aiming to be taken over are PT Inti Karsa Daksa (IKD), PT Dinamika Alam Sejahtera (DAS) and PT Sumber Mitra Sarana Realtindo (SSR), with a sales target reaching 99.9 percent shares. Total acquisition funds reach Rp.111 billion, Rp.100 billion for IKD, Rp.10 billion for SSR and Rp.1 billion for DAS. Meanwhile, additional working capital for the three developing companies will add up to Rp.344 billion, Rp.260 billion for IKD, Rp.75 billion for SSR and Rp.9 billion for DAS. Especially for IKD and SSR, Jaka Inti has allocated special funds restructuring their debts. SSR’s debt reached Rp.73 billion. For IKD, the company has to pay Rp.75 billion to settle its debt and Rp.84 billion to pay for bond conversion. The price of Jaka Inti’s shares yesterday was Rp.105 per note, down Rp.5 from Rp.110 the previous day.

Jaka Artha Sales Up 17.9 Percent
Bisnis Indonesia, page B2, 2005-12-28
From January to September 2005, PT Jaka Artha Graha Tbk booked a sales increase of around 17.9 percent to Rp.4.71 billion, compared to last year’s Rp.3.99 billion. This property and real estate company managed to sell 80 units of houses in Griya Fortuna, Vila Asia located in Bojong Gede, Bogor. The company is currently in the process of developing a cluster of real estate as much as 27 units in front of Griya Fortuna’s sports centre. Jaka Artha is also currently working together with Palu’s provincial government in building 2,500 units of houses for its civil servants priced at Rp.42 million per unit named Perumahan Roviga Permai, which is built on land belonging to PT Sinar Putra Murni. Jaka Artha’s profit in the third trimester of 2005 rose around 22.8 percent to Rp.780 million, compared to last year’s Rp.635 million. The company’s net profit increased 5.6 percent from Rp.577.6 million to Rp.610 million. Until the end of the year, Jaka Artha predicts sales to increase by eight more units making it a total of 88 units. If so, then this year’s sales will increase by 8 percent to Rp.5.18 billion, compared to last year’s Rp.4.77 billion.