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Monday, January 17, 2011

ABDA plan to increase capital

BI / exchange
17/1/2011
Irvin Avriano A.
Bisnis Indonesia

ABDA plan to increase capital

JAKARTA: PT Asuransi Bina Dana Arta Tbk (ABDA) intends to increase the company's capital and change the composition of their management.

This information was revealed in the agenda of extraordinary general meeting of shareholders (EGM), announced on the website of Indonesian Central Securities Depository (PT Kustodian Sentral Efek Indonesia/KSEI) today.

However, the data didn't explain the amount of additional capital. The raise its capital, the stock emitters must seek for its shareholders approval first.

To change the provisions on capital, the company also need to change its articles of association, which has also been scheduled in the EGM was to change article 13 and article 16 of its article of the company (anggaran dasar). The company also intends to change its management and to pick new board of commissioner.

Shareholders of the insurance company commandeered by Candra Gunawan consists of RBS Coutts Bank Ltd-Singapore amounting to 37.58%, ABN AMRO Bank NV Singapore at 36.12%, The Bank of New York at 17.76%, and public 8.54%.

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