JAKARTA (Yosefardi) – Shipping company PT Pelayaran Nasional Bina Buana Raya Tbk (BBRM) allocates US$4 million fund, equivalent Rp46.7 billion, for buying back its shares.
The buyback is set for maximum 250 million shares, representing 6.6% of its enlarged shares capital.
The buyback will take 18 months period, starting March 25, 2014 until September 24, 2015.
BBRM booked net profit of US$5.49 million in 2013, declined from US$7.01 million in 2012. Revenue increased to US$37.28 million from previous US$34.31 million. Its assets totaled US$164.27 million while liability amounted US$88.75 million.