Lautan Luas stock split 1:2

Shareholders of Lautan Luas (LTLS IJ, Not rated) has approved the company’s plan for stock split 1:2. In effect, total shares outstanding will increase from 780m shares to 1.56bn shares. This action is done to increase liquidity to the market. On another matter, the company will be focusing on 3 main projects in 2015 namely USD40m creamer plant in Mojokerto, IDR150bn logistics warehouse in Tanjung Priok, and development of USD10m chemical plant in Tangerang. Meanwhile, management is targeting 2015 revenue to reach IDR7trn.