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Thursday, April 8, 2010

Apexindo paid off IDR725 billion bonds

Thursday, 08/04/2010 00:00 WIB

Apexindo paid off IDR725 billion bonds

Irvin Avriano A.
Bisnis Indonesia

JAKARTA: PT Apexindo Pratama Duta Tbk paid I/2005 bonds and I/2005 sharia bonds worth totally IDR725 billions.

In public expose to Indonesia Stock Exchange (IDX) yesterday, the company also paid the coupon and installment of the bond ijarah worth IDR22.2 billion so the company should pay a total of IDR747.2 billion.

"We will transfer the IDR747.2 billion to the account of PT Kustodian Sentral Efek Indonesia as the payment agent," said vice president director of Apexindo Tito Sulistyo in public expose here.

Tito failed to mention the funding sources for the bond payment here. Tito was not available for comment for the query.

Corporate secretary of Apexindo Ade Satari and Director of Apexindo Agustinus Lomboan who were separately contacted could hardly explain the details the bond payment.

Apexindo once claimed to have first written warning from IDX yesterday due to the belated 2009 finance statement.

The public expose of the bourse authority mentioned the emitter with three bond series issuance here had submitted the report but late.

The three bond series issued here include Apexindo I/2005 series worth IDR510 billion, sukuk ijarah I/2005 worth IDR240 billion, II/2009 tranches A worth IDR300 billion, and II/2009 tranches B worth IDR300 billion. those three got idA+ ratings from PT Pemeringkat Efek Indonesia (Pefindo).

The Apexindo I/2005 floating bonds are slightly different from the bonds amount paid by the emitter yesterday.

The similar data also shows five other bond emitters until yesterday failed to submit their finance reports. They include PT Jakarta Propertindo, PT Lontar Papyrus Pulp & Paper Industry, PT Pindo Deli Pulp & Paper Mills, and PT Perusahaan Listrik Negara (PLN).

"For the bond and sukuk emitters listing stocks to IDX and failing to submit their 2009 annual finance statements, they will carry the sanction as referred to the regulation of securities listing No.I-E itime III.1," said IDX securities company assessment division head Saptono Adi Junarso in the public expose.

Apexindo is the subsidiary firm of PT Mitra International Resources Tbk, which was formerly acquired from PT Medco Energi Internasional Tbk.

The company here formerly claimed to acquire 22.5 percent shares of PT Pangansari Utama, the company on food industry. But the company failed to execute the scheme.

By end of December 2009, Mitra International planned to sell Apexindo to cut down the IDR8.29 trillion debt into IDR3.5 trillion.

At the time, Director of Mitra International Inu Dewanto Koentjaraningrat said the company has divested 98.14 percent shares of Apexindo.

Yesterday the stock price of Mitra International was closed at IDR12, 250 or rose 0.82 percent as from IDR!2,150 with market capitalization of IDR93.43 trillion. (Bisnis/iaa)

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