Bakrieland Promise Not Issue New Shares within 5 years

Bakrieland Development Tbk (ELTY) promised not to make the issuance of new shares. They just plan to seek other funding if needed.

"In five years into the future, we will not make the rights issue again," said President Director Mr S Thaib Bakrieland. The new rights offering will be made if the company intends to add an empty land. What happened this time, Bakrieland has a lot of vacant land.

Apart from having no intention to add land, Bakrieland also wants its share price back uphill. "We want investors to enjoy a profit when their funds invested in Bakrieland," The President Director.

On the other hand Bakrieland's President Director Hiramsyah S. Thaib said, “We estimate operating profit ELTY could rise 35%-40% in the first half this year, the company is calculated to make Rp86.39 billion-Rp89.59 billion of operating profit, the net profit is predicted to rise 35%-40% in 1H 2010 from a year before”.