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JAKARTA: Plan for Coal Mining PT Bukit Asam Tbk (PTBA) to increase shareholding in PT Bukit Asam Transpacific Railway (BATR) is delayed from the original target of the end of this month.

President director of Bukit Asam Sukrisno said the company is currently dealing with funding issues and focus meksnisme completion of the project.

"We were one by one, completing existing projects, prior to increasing ownership in the BATR. Currently we do not realize the plan in the near future, "he said today.

Bukit Asam in the last month said it would raise the share of ownership in BATR to 30% from current 10%.

Funds needed to raise interest in this coal transportation company Rp1, 5 trillion.

The Company has the funds to increase the number of shares.

According to him, the shares will be purchased by the company is owned by the Rajawali Group which is currently still controlled 80% of the company.

In addition 10% of Bukit Asam, another company which also holds shares of China Railway Engineering Transpacific is.

The Company argued that the return on equity (ROE) of these companies are quite high, so that it can provide greater benefits if the ownership enhanced. (Wiw) By: Bambang P. Jatmiko (Bisnis.com)

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