Saturday, 12/06/2010 00:00 WIB
Aqua readies for tender offer
Irvin Avriano A.
JAKARTA: PT Aqua Golden Mississppi Tbk readies to have tender offer to public shareholders and does not change the reference pricing at the level of IDR450,000 per share unit.
Aqua President Director Parmaningsih said the price will be set up in the delisting process prior to becoming go private company.
The action is scheduled soon after the company got official notice from Bapepam-LK for continuing the go private process.
"We have just received the notice two days ago and has not defined yet the schedule for processing the document to Bapepam-LK. But we hope we can do it as soon as possible," she said yesterday.
The company effort to do the go private process deals with the completion of investigation by Bapepam-LK. The investigation execution was based on the complaints addressed by some shareholders who suspected the data manipulation in the process.
Real Sector Company Finance Assessment Bureau Chief of Bapepam-LK Anis Baridwan said Bapepam-LK does not find any violation so the company is allowed to continue the corporate action.
"The probe is over which marks that the process can go on. But if there is sanction from the investigation, I have no idea. Please ask the Investigation Bureau," he said.
He regretted the delisiting of Aqua from the capital market as the capital market will lose one stock of one emitter. But Bapepam-LK could not intervene the decision here as it is the decision made by the shareholders in the extraordinary general meeting of shareholders.
The company this year shared IDR1,800 per share dividend or DIR23.69 billion or 24.7 percent of the total corporate IDR95.91 billion net profits booked by the company last year.
Parmaningsih added that the company also allotted IDR72.22 billion funds from the net profits as the retained earnings.
"We allocated higher retained earning than our dividend as we usually have earlier purchase for our revenue, that is the packaging production."
The company is optimistic to tap a 12.75 percent increase of the net profit as from IDR2.73 trillion last year into DIR3.08 trillion this year due to the mounting consumer demands.
The large capacity of production serves as one of the corporate optimisms to boost the target this year.
The soaring sales equals with the water sales volume or increased by 10.31 percent this year as from 6.57 billion liters last year into 7.25 billion liters. (Bisnis/Iaa)