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Thursday, April 22, 2010

Metrodata plans non-preemptive rights

Irvin Avriano A.
Bisnis Indonesia

Metrodata plans non-preemptive rights

JAKARTA: PT Metrodata Electronics Tbk is planning to gain additional capital with non-preemptive rights scheme (non-HMETD). The company management will ask for its shareholder's approval in the extraordinary general meeting (EGM/RUPSLB).

The plan was revealed in the EGM agenda published by the PT Kustodian Sentral Efek Indonesia (KSEI) website today. The EGM and its annual general meeting will held on May 26th.

In addition to the approval for capital up sizing with non-preemptive rights, the company is also scheduled to discuss the company's last year financial statement.

Last year, Metrodata booked a net profit as much as IDR10.04 billion, lower than 2008 that booked at IDR29.95 billion level. The result is due to large operating expenses that increased from IDR202.69 billion to IDR255.36 billion at the same period.

The increasing operating expenses was primarily due to payroll expenses and the workers benefits that increased from IDR116.55 billion in 2008 to IDR166.54 billion last year.

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