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Profit USD 1.7 Trillion, XL Not For Dividend

JAKARTA, KOMPAS.com-telecommunications company, PT Tbk Axiata XL, managed to improve financial performance in 2009 is significant. However, the company decided not to distribute dividends to shareholders.

Based on XL's financial data, in 2009 the company recorded a net profit of Rp 1.709 trillion.

Net profit was increased by approximately 113 times compared with the year 2008, in which XL was experiencing loss of Rp 15 billion due to incidental costs and exchange rate developments are less profitable.

President Director of XL Hasnul Suhaimi general meeting after the annual shareholders (AGM), Friday (19 / 3), said that company shareholders have agreed to not share the net profits as dividends in 2009.

Funds obtained from the results of operations will be recorded in retained earnings (retained earnings) to support business development company, where 0.01 percent, or Rp 100 million of net income to be designated as public reserve.

XL shareholders also agreed to increase the capital issued and paid-up capital which had USD 709 billion to Rp 850 billion.

Holders of shares of Holding Sdn Bhd Indocel worth Rp 735.87 billion (86.5 percent), Emirates Telecommunication Corporation International Rp 113.24 billion (13.3 percent), and the general public Rp 1.67 billion (0.2 percent). (REI / RYO)