JAKARTA - Liquidity position of PT Aneka Tambang Tbk (ANTM),a publicly-listed mining company, is not affected by net income increase in 2012 audited financial statements, according to Research Department of Finance Today. Increase in net income last year was due to profit from fair value adjustments on investment in PT Nusa Halmahera Minerals, which is basically just a recording or no cash inflow.
Aneka Tambang management previously released 2012 audited net income amounted to Rp 2.99 trillion, an increase of 55 percent compared to 2011 amounted to Rp 1.92 trillion. Whereas net income in unaudited financial statements amounted to Rp1.07 billion, a decrease of 44 percent compared to 2011 realization.
Listed cosmetic and bottled water manufacturer PT Akasha Wira International Tbk (ADES) has maintained gross and operating margins growth in the first quarter of this year. The company’s gross margin gained 0.70 percent to become 55.98 percent, while operating margin rose one percent to become 17.47 percent. The margins growth occurred when other cosmetic issuers such as PT Mustika Ratu Tbk (MRAT), PT Mandom Indonesia Tbk (TCID) and PT Martina Berto Tbk (MBTO) were facing fluctuation in margin performance.
State-owned national airliner PT Garuda Indonesia (Persero) Tbk (GIAA) targets to conduct rights offering in the second half of 2013, with the assumption that the markets’ condition are conducive for rights offering. Funding from rights offering is one of the three options for the company in funding the 2013 capital expenditure (capex) of US$ 300 million to US$ 500 million.
PT Astra Daihatsu Motor has increased the company’s 2013 sales target from 165,000 units to 173,000 units this year. The sales target hike is in line with sales of the New Daihatsu Xenia improved multi-purpose vehicle (MPV) product. The company’s management said the improved product with added safety features is part of the company’s strategy in anticipating the competition.
Listed livestock feed manufacturer PT Charoen Pokphand Indonesia Tbk (CPIN) has allocated Rp 2 trillion (US$ 206 million) for the company’s 2013 capex, or climbing 11 percent from Rp 1.8 trillion in 2012. The capex will be focused on production expansion in the chicken breeding, livestock feed and processed food segments.
The entire 2013 coal production of PT Kideco Jaya Agung, subsidiary of PT Indika Energy Tbk (INDY), has been committed for sales contract. An official of the company said that Kideco’s coal production is targeted to increase of 15.62 percent to 37 million tons from 32 million tons in 2012.
PT Mandiri Sekuritas, a securities company owned by PT Bank Mandiri Tbk (BMRI), obtained underwriting value of Rp 14.8 trillion on January-April, 2013, or has exceeded the company’s 2013 target of Rp 11 trillion to Rp 12 trillion.
State-owned export insurance company PT Asuransi Ekspor Indonesia (ASEI) obtained net profit of Rp 70 billion as of April, 2013, or at 50 percent of the 2013 target of Rp 140 billion. The net profit growth was supported by premium revenues growth, among others.
PT Trimegah Asset Management posted 2012’s revenue growth of 42 percent to Rp 86.15 billion from Rp 60.64 billion in 2011. The company’s revenue did not meet the company’s 2012 target of Rp 90 billion.
Listed banking company PT Bank Mega Tbk (MEGA) obtained consolidated net profit of Rp 195.68 billion in the first quarter of 2013, or a drop of 60.67 percent YOY from Rp 497.55 billion. The net profit decline was driven by the increase on operating cost towards operating revenue of 18.83 percent YOY to Rp 463.98 billion. The drop was also attributed to net revenues that fell 23.76 percent YOY to Rp 706.69 billion from Rp 926.95 billion.
PT Ricky Putra Globalindo Tbk (RICY) obtained net profit for the first quarter of 2013 of Rp 3.89 billion, or a fall of 88.92 percent YOY from Rp 35.12 billion. The net profit drop was caused by operating cost that grew to Rp 209.58 billion from Rp 125.95 billion, albeit the company generating basic income growth to Rp 256.73 billion from Rp 166.16 billion.
Listed garment manufacturer PT Pan Brothers Tbk (PBRX) posted 2013’s first quarter net profit drop of 45.88 percent YOY to Rp 8.58 billion from Rp 15.74 billion that was attributed to cost of goods sold (COGS) and operating cost growth exceeded the company’s sales growth. COGS in the first quarter of 2013 rose 37.65 percent to Rp 551.53 billion, while sales grew 35.58 percent to Rp 619.59 billion. Pan Brothers’ operating cost increased 41.36 percent YOY to Rp 51.74 billion from Rp 36.6 billion.
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December 19th, 2012