JAKARTA (IFT) - PT Catur Sentosa Adiprana Tbk (CSAP), distributor and retailer of building materials and home appliances, is exploring a Rp 42 billion (US$ 4.914 million)loan facility amounting from PT Bank Central Asia Tbk (BBCA) and PT Bank Ekonomi Raharja Tbk (BAEk). Proceeds will be used to cover shortage of capital expenditures for 2011.
The company allocated Rp 60 billion for capex this year, of which 30 percent or Rp 18 billion are from internal cash, and the remaining Rp 42 billion from bank loans. The capex budget for 2011 is lower than in 2010, which amounted to Rp 100 billion. It was due to repair and building of several storage warehouses. Capex for 2011 was used to add three building materials distribution branches in Banyuwangi, Palangkaraya, and Sukabumi with an investment of Rp 6 billion. These have been constructed in the first quarter of 2011.
PT Garuda Indonesia Tbk (GIAA)
The state-owned airline company has spent Rp 3.01 trillion of its net IPO proceeds of Rp 3.18 trillion throughout 2013. The company spent Rp 2.54 trillion from the IPO proceeds to develop its armada, and Rp 466.12 billion to fund its 2013 capex. The capex was allotted to the company and its subsidiary. The company still had remaining IPO proceeds of Rp 171.28 billion that is saved as deposits.
PT PLN (Persero)
The state-owned electricity company targets gas consumption for its power plants in 2014 to rise five percent to 470.3 BBTUD in 2014 from actual consumption of 409.9 BBTUD last year. The gas consumption target will be met by optimizing gas distribution from Kangean Energy and PT Nusantara Regas.
PT Sumber Alfaria Trijaya Tbk (AMRT)
The listed modern retail company—through its subsidiary Alfamart Retail Asia Pte Ltd Singapore—expands to the Philippines by establishing a joint venture subsidiary named Alfamart Trading Philippines Inc with a local partner. Alfamart becomes a minority shareholder in the joint venture with a 35-percent stake and capital of Rp 66.7 billion. The joint venture company will engage in commerce, distribution, and logistics segment.
PT Cita Mineral Investindo Tbk (CITA)
The listed bauxite producer many have to stop producing this year, following the banning of raw mineral export on January 12, 2014. An official of the company expressed his pessimism that the company could be able to produce this year. The company, through the consortium of PT Well Harvest Winning Alumina Refinery, started the construction of an alumina smelter on July of 2013, with investment value of US$ 1 billion in Kendawangan, West Kalimantan. The smelter’s development is expected to be completed in 2015.