SINGAPORE (Indonesia Today) – Malacca Trust Limited reported that its subsidiary, PT Batavia Prosperindo Internasional (BPI), has on 19 April 2013 reduced its authorised capital from Rp400 billion comprising 4 million shares with par value of Rp100,000 per share to Rp40 billion comprising 4 million shares of par value Rp 10,000 per share.
BPI has also on the same date reduced its issued share capital from Rp222.93 billion comprising 2.23 million shares of par value Rp100,000 per share to Rp22,29 billion comprising 2,23 million shares of par value Rp10,000 per share (Proposed Capital Reduction). The rationale for the Proposed Capital Reduction is to return cash surplus to shareholders in excess of the immediate requirements of BPI.
The approval from the Ministry of Law and Human Rights of Indonesia has been obtained for the Proposed Reduction in Authorised Capital and Proposed Capital Reduction. (ferdi@theindonesiatoday.com)