JAKARTA (IFT) – PT Sumber Energi Andalan Tbk, formerly PT Itamaraya Tbk (ITMA), recording 56.2 percent decrease in net loss to Rp 1.29 billion on September 30, 2011, from Rp 2.95 billion on March 31, 2011.
Lower loss is due to decreasing expenses after the Company halted its core business in gold and silver craft, and the recording of Rp 218.53 million in revenue. Current liability rose by 13.5 percent, from Rp 7.85 billion to Rp 9.09 billion, due to increase in credit to finance business operation. (*)
PT Indoritel Makmur Internasional Tbk (DNET)
The listed retail consumer investment company allots Rp 1.3 trillion to its associate company, PT Indomarco Prismatama, to expand Indomaret outlets in 2014. The expansion will be conducted to boost Indomarco’s revenue growth in 2014. The company plans to open 1,200-1,300 Indomaret outlets, with investments estimated to reach Rp 1 billion per outlet. Funding for the expansion is fully sourced from the company’s cash flow.
PT Ancora Indonesia Resources Tbk (OKAS)
The mining explosive provided and oil and gas drilling services company projects its 2014 revenue to reach US$ 230 million, or up 15 percent from 2013’s revenue projection of US$ 200 million. The revenue hike in 2014 will be supported by the increase in revenues from rig lease services. This business is run by the company’s subsidiary, PT Bormindo Nusantara. The subsidiary has secured a new contract worth US$ 61.5 million from PT Chevron Pacific Indonesia. The company also has carried over contracts worth US$ 121 million from last year.
PT Energi Mega Persada Tbk (ENRG)
The listed oil and gas company projects its loan interest rates for 2014 to drop US$ 26 million per year. Imam P. Agustino, President Director of Energi Mega, said the paying off of the previous debt through a syndicated loan worth US$ 203 million would reduce the company’s interest expense. The syndicated loan facility secured by Energi Mega has a five-year tenor with LIBOR+6 percent interest rate per year, which is lower than the interest rate from the company’s previous debt.
PT BCA Finance
The multifinance subsidiary of PT Bank Central Asia Tbk (BBCA) postpones its plan to conduct IPO. The company’s management decided to delay its IPO due to the company’s low asset value. BCA Finance’s total assets in 2012 climbed 31.16 percent to Rp 4.84 trillion from RP 3.68 trillion in 2011. The asset growth is in line with the increase in the company’s financing. BCA Finance’s new financing as of November of 2013 reached Rp 25 trillion from the revised 2013 target of Rp 26 trillion.
PT Citra Marga Nusaphala Persada Tbk (CMNP)
The listed toll road company projects its 2014 net profit to drop to Rp 358.7 billion from 2013’s net profit estimate of Rp 404.3 billion. The net profit decrease projection is attributed to the company’s estimate that its operating cost will increase by three folds. Citra Marga’s bond issuance plan in 2014 will also increase its interest expenses.