JAKARTA (IFT) – PT Pertamina EP, subsidiary of PT Pertamina (Persero) in the upstream oil and gas sector, estimates the company’s average oil production to reach 128,000 barrels per day (bpd) in 2012-end, or at 95.5 percent of the 2012 target of 134,000 bpd. Syamsu Alam, President Director of Pertamina EP, said the projection of the company’s oil production target was due to several obstacles.
One of the obstacles facing the company was the delaying of floating production, storage and offloading (FPSO) development to increase production of around 5,000 bpd from the Natuna Block in Riau Islands. This block was managed by Pertamina EP and PT Pentarahan Arnebatara Natura as the technical assistant contractor.
PT Indosat Tbk (ISAT)
The listed telecommunication company will boost its information technology (IT) business in 2014. The company targets revenue from IT services to exceed 25 percent. Indosat markets its latest service for small and medium enterprises (SME) and corporate segment. The growth of Indosat’s IT service reaches 25 percent per year.
PT Solusi Tunas Pratama Tbk (SUPR)
The listed telecommunications tower company targets its 2014 operating revenue to grow 60 percent from 2013’s operating revenue estimate that exceeds Rp 800 billion. The company expects the operating revenue growth to come from the additional of new towers the company owns. Solusi Tunas Pratama plans to build 1,000 new towers—including 800 tower units from organic growth. The company targets to own 3,900 towers in 2014.
PT Chandra Asri Petrochemical Tbk (TPIA)
The listed chemical manufacturer secures loan facility worth US$ 265 million from several local and international banks. The loan will be used to fund the company’s capex and the naphtha cracker factory expansion in the end of the fourth quarter of this year. Chandra Asri plans to expand the factory’s production capacity to 860,000 tons per year from 600,000 tons per year, with total funding need of around US$ 380 million.
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.