Property developer PT MNC Land is targeting revenues
of 895 billion rupiah ($73.42 million) this year, up 54 percent
from last year's forecast of 581 billion rupiah, said finance
director Dipa Simatupang.
The firm won shareholders' approval to raise 2.2 trillion
rupiah from a rights issue, offloading 1.46 billion shares, or
22.6 percent of its enlarged capital, at 1,520 rupiah per share.
MNC Land will use the proceeds to buy a 55.91 percent stake
in PT Bali Nirwana Resort for 956.02 billion rupiah from PT
Bakrieland Development, acquire land worth 600 billion
rupiah and finance working capital. (Bisnis Indonesia)
Note: Reuters has not verified this story and does not vouch
for its accuracy.
($1 = 12190 rupiah)
(Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)