Jakarta (Antara Bali) - Garuda Indonesia is considering repurchasing its shares as the capital market is currently volatile.
"Where corporate action is concerned, we cannot disclose any information at the moment. Let us see the developments in the capital market, but as of now our share prices are dropping. We are considering it (the buyback) now," Garuda Indonesia President Director, M. Arif Wibowo, said after inaugurating the Indonesia Excellent Expo at the Bung Karno Sports Stadium on Friday.
Wibowo said he would keep abreast of the developments in the capital market before taking the decision to buy back shares.
"Let us wait and see. Has the regulation been issued? It hasn't. We will look at the regulation. We will then decide what steps need to be taken," he said.
He said he would also consider other necessary steps when the regulation had been issued. Furthermore, Garuda would also coordinate with the State Enterprises Ministry.
In addition, he said Garuda would also discuss the planned buyback with shareholders.
"We will also coordinate with major shareholders and other shareholders," he said.
Garuda had not arrived at an estimated price to buy back the shares, he stated.
"We cannot speculate. We should look at the regulation and the latest conditions," he said.
Earlier, the ministry asked three state securities companies -- Mandiri Sekuritas, Bahana Securities, and Danareksa Sekuritas -- to study the possibility of the national flag carrier buying back its shares listed in the capital market.
"Buying back (the shares) is important amidst declining share prices," the Secretary of the State Enterprises Ministry, Mahmudin Yasin, said after a hearing with the House Commission VI on Monday. (WDY)
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"Where corporate action is concerned, we cannot disclose any information at the moment. Let us see the developments in the capital market, but as of now our share prices are dropping. We are considering it (the buyback) now," Garuda Indonesia President Director, M. Arif Wibowo, said after inaugurating the Indonesia Excellent Expo at the Bung Karno Sports Stadium on Friday.
Wibowo said he would keep abreast of the developments in the capital market before taking the decision to buy back shares.
"Let us wait and see. Has the regulation been issued? It hasn't. We will look at the regulation. We will then decide what steps need to be taken," he said.
He said he would also consider other necessary steps when the regulation had been issued. Furthermore, Garuda would also coordinate with the State Enterprises Ministry.
In addition, he said Garuda would also discuss the planned buyback with shareholders.
"We will also coordinate with major shareholders and other shareholders," he said.
Garuda had not arrived at an estimated price to buy back the shares, he stated.
"We cannot speculate. We should look at the regulation and the latest conditions," he said.
Earlier, the ministry asked three state securities companies -- Mandiri Sekuritas, Bahana Securities, and Danareksa Sekuritas -- to study the possibility of the national flag carrier buying back its shares listed in the capital market.
"Buying back (the shares) is important amidst declining share prices," the Secretary of the State Enterprises Ministry, Mahmudin Yasin, said after a hearing with the House Commission VI on Monday. (WDY)
Editor : I Gusti Bagus Widyantara
COPYRIGHT © ANTARA News Bali 2015