Global Financindo Hands Over Stocks Bisnis Indonesia, page B2, 2005-12-26
PT Global Financindo Tbk has handed over a number of its stocks in a number if companies such as PT Recapital Advisors as the company’s obligation fee. The shares handed over include PT Bali Nirwana Resort, PT Bakrie Swastaki Utama’s shares, and Alpha Recovery Holding’s Limited shares.
Rp.1.8 Trillion Loss for Global www.suaramerdeka.com, 2005-05-21
In 2003, PT Global Financindo Tbk recorded a total consolidated income of Rp.143.65 billion, or down 11.96 percent compared to 2002. Last year, the company previously named PT Bakrie Finance Corp, had a consolidated loss of Rp.74.14 billion. Accumulated from 2002 to 2003, the loss adds up to Rp.1.86 trillion. The company gains its income from concession, insurance, and interest. In general, its income decrease is believed to be caused by the loan restructure programme to the creditors. It is also caused by the income decrease in the insurance and security service by 100 percent as a result of selling the company’s shares to PT Bintang Nusantara Securitas and PT Asuransi Ikrar Lloyd.
