PT Bhakti Investama Tbk. said that the company is considering disposing its 16.53% stake in PT Citra Marga Nusaphala Persada Tbk. Bhakti Investama plans to sell the stake at IDR 2000 per share, so that it can raise IDR 660 billion. Darma Putra, Director of Bhakti Investama said, “We are opening a possibility of disposing Bhakti Investama’s shares in Citra Marga Nusaphala Persada. If the price is good, we may dispose our entire shares in Citra Marga Nusaphala Persada, which reach more than 16%.”

PT Bhakti Investama Tbk. reported earnings results for the year ended December 2008. For the year, the company reported net loss of IDR 355.28 billion ($32.3 million) last year as against a net profit of IDR 695.24 billion in the previous year. Its loss on foreign exchange swelled almost fourfold to IDR 539.64 billion by December 2008 from IDR 137.53 billion a year earlier. Its investment gain shrank 74.16% from IDR 1.15 trillion in 2007 to IDR 296.13 billion in 2008. The company attributed the decline in performance mainly to loss on foreign exchange.

PT Bhakti Investama Tbk. reported earnings results for the first half of fiscal 2008. For the period, the company reported a 35% increase in income to IDR 2.9 trillion ($316 million) in the first half of this year from IDR 2.14 trillion in the same period last year. Its EBITDA rose 5% to IDR 831 billion from IDR 791 billion.