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Bakrieland is committed in becoming the only integrated property company with a strong focus point for ease of access and efficient infrastructure
 
Jakarta, June 25, 2010 – PT Bakrieland Development Tbk (Bakrieland) Extraordinary Shareholders Meeting was held today. At the meeting, shareholders approved Rights Issue IV of Rp 3.19 trillion “This rights issue of Rp 3.19 trillion will strengthen Bakrieland’s capital structure. It will also increase the growth potential of the company,” said Bakrieland President Director & CEO Hiramsyah S. Thaib.

Apart from approving the rights issue, shareholders also approved for the company to provide loan to its subsidiary, PT Superwish Perkasa, which will be used in developing Rasuna Epicentrum project.

Shareholders also granted their approval for the company to acquire 20 percent of PT Sentul City Tbk’s shares and perform material transactions in the form of equity in PT Bukit Jonggol Asri.

According to Hiramsyah, Bakrieland also received its shareholders’ approval to acquire the shares of PT Fusion Plus Indonesia in Lido Lake Resort (Sukabumi, West Java) as well as new shares that will be issued by PT Fusion Plus Indonesia.

In addition, the funds collected from the Rights Issue IV will be used for:

  1. Equity participation of Kota Baru Perumnas project, a joint venture project with the National Public Housing considered to have high growth potential in the East Jakarta CBD
  2. Developing the Ciawi Sukabumi toll road project considered to have high traffic potential and also a growth driver for Bogor Nirwana Residence and Lido Lake Resort
  3. Development of landed residential project, Bogor Nirwana Residence (land acquisition, residential unit and infrastructure development)

With the rights issues to fund the expansion, Bakrieland will become a property company with the largest land bank in the Jabodetabek (Jakarta-Bogor-Depok-Tangerang-Bekasi) area of almost 14,000 Ha.


By carrying out development on the toll road projects, Bakrieland shows continuous commitment as the only integrated property company with a strong focus point for ease of access and efficient infrastructure.

Bakrieland’s strong commitment is reflected by the completion of the Kanci-Pejagan toll road, which was the fastest land acquisition and construction project compared to other Trans Java works. “We are optimistic that with the funds of this rights issue, Bakrieland’s performance will continue to  increase sustainability,” said Hiramsyah.

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About PT Bakrieland Development Tbk

PT Bakrieland Development Tbk is an integrated property developer in Indonesia (code: ELTY) which has 4 business units i.e. City Property, Landed Residential, Hotel & Resort, and Property Related Infrastructure.

Projects under City Property unit:
  1. Wisma Bakrie 1
  2. Wisma Bakrie 2
  3. Rasuna Epicentrum, the first and largest superblock in the main CBD of Jakarta on an area of 53.5 hectares. Projects that are being developed are Bakrie Tower, Epicentrum Walk, The Grove Condominium, The Grove Suites, The Convergence Indonesia and The Wave at Rasuna Epicentrum.
  4. Sentra Timur Residence, first stage develops 3 Rusunami towers, second stage becomes 11 Rusunami towers in total, covering area of 3.2 hectare. The master plan is 100 hectare cooperating with Perumnas and PT Jakarta Propertindo. Sentra Timur Residence is also a part of Superblock development in East Jakarta CBD with a strategic location which is adjacent to JORR toll road.

Projects under Landed Residential unit:
  1. Bogor Nirwana Residence in Bogor
  2. Ijen Nirwana Residence in Malang
  3. Batam Nirwana Residence in Batam

Projects under Hotel & Resort unit:
  1. Pullman Bali Legian Nirwana Hotels & Resorts in Bali
  2. Nirwana Bali Resort in Bali
  3. Ubud Nirwana Villas in Bali
  4. Balikpapan Nirwana Suites & Residences in Balikpapan
  5. Krakatoa Nirwana Resort in Lampung

Property-related Infrastruktur Projects:
  1. Kanci-Pejagan Toll Road
  2. Pejagan-Pemalang Toll Road
  3. Ciawi-Sukabumi Toll Road
  4. Batang-Semarang Toll Road
  5. Pasuruan-Probolinggo Toll Road


For further information, please contact:

PT Bakrieland Development Tbk

Nuzirman Nurdin
Corporate Secretary
Ph. 6221 525 7835
Fax. 6221 522 5063
Email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
Web: www.bakrieland.com