Palm Asia Enters Infrastructure Bisnis Indonesia, page B1 (10-December-2005) PT Palm Asia Corpora Tbk. (PLAS) is planning to restructure the company by letting go of wome of its subsidiaries and focusing the business more in the infrastructure field. In order to reach a 6-8 percent growth in five year, its infrastructure will need funding as much as US$140 billion, so the prospect still looks great. Its subsidiary companies include PT Inti Kapuas Arowana Tbk., PT Binong Nuansa Permai, and PT Maxima Treasure Fund. The restructure will be done in three steps. First, Palm Asia will decrease its share of Inti Kapuas from 62.38 percent to 12.475 percent. Second, it will sell its shares in Maxima Treasure until it will only own 62.375 percent from 76.42 percent.
Palm Asia Performs Rights Issue II www.suarakarya-online.com (9-March-2005) PT Palm Asia Corpora Tbk plans to perform a rights issue II for 409.200 million series B stocks for Rp.100 per unit. Every shareholder that holds 500 old shares is entitled to buy 264 series B stocks. With the rights issue II, the value of deposited capital will increase to Rp.140.920 billion, which consist of 25 million series A stocks (worth Rp.1,000 per unit) and 1.159 billion series B shares (worth Rp.100 per unit). The fund obtained for the rights issue will be used to maintain the company’s ownership of PT Inti Indah Karya Plasindo Tbk’s shares, which is worth Rp.39.920 billion.
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