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Tuesday, May 11, 2010

Tigaraksa targets to have IDR5.7 trillion sales

Tuesday, 11/05/2010 00:00 WIB
Tigaraksa targets to have IDR5.7 trillion sales

Irvin Avriano A.

JAKARTA: PT Tigaraksa Satria Tbk, consumer product distributor and seller, aims to get 17-20 percent sales growth this year into IDR5.6-5.74 trillion due to the corporate historical trend. Last year, the company booked IDR4.78 trillion sales.

Director and Corporate Secretary of Tigaraksa Troy Parwata said the sales of consumer goods gave the largest portion to the corporate revenue in which last year it reached IDR4.49 trillion or 93.88 percent of the total of consolidation sales.

To support the sales target, the company allocates DIR41.8 billion capital expenditure this year. "Most of the funds or 50 percent will be allotted to buy LGP gas tanks," he said after annual and extraordinary GMS yesterday.

Gas tank is the material of the subsidiary firm, PT Blue Gas Indonesia, which was taken over from Application Des Gaz SA in 2000. Blue Gas has four business lines, production, sales of gas stove package, non package gas stove, gas refilling, and importation and direct sales of Vienta brand kitchen set.

GMS yesterday agreed to share IDR35.8 billion dividends or IDR39 per share unit to shareholders. The meeting also agreed the appointment of Adhi B. Supit as one of the new directors and approved the revision of the company statute.

Troy added the company has studying cooperation with 2-3 dairy milk producers to use the company asset, dairy factory in Cangkringan, Sleman, Yogyakarta.

"Revenues from our factory are not significant but it will maximize our plant so as not to be idle. It could not mention the name as negotiation is underway."

The company also considers to close or activate three currently idle business units. PT Tigaraksa Optima and PT Inti Karya Agrosatria were out of operation since 2003 and 1999, and PT Tigaraksa Properti is not operational yet.

In quarter I/2010 the company booked IDR13.13 billion net profits or dropped 7.71 percent from IDR14.38 billion last year. The plummet was due to the mounting tax of IDR4.87 billion as from IDR1.31 billion last year.

Up to April, shareholders of the company consist of PT Penta Widjaja Investindo with 37.31 percent ownership, PT Sarana Ledaun (30.56 percent), PT Widjajatunggal Sejahtera (25.33 percent), Robert Widjaja (0.22 percent), Meity Tjiptobiantoro (0.009 percent), and public (6.56 percent).

The TGKA stock price was stagnant at IDR330 yesterday and the market capitalization stood at IDR303.1 billion. (Bisnis/iaa)

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