Search This Bitch

Loading...

AddThis?

Share |

Tuesday, June 8, 2010

Pegadaian suspends bond issuance

Monday, 07/06/2010 00:00 WIB

Pegadaian suspends bond issuance


Irvin Avriano A.
Bisnis Indonesia


JAKARTA: Perum Pegadaian, state owned pawnshop, suspended the bond issuance which was scheduled in semester I/2010 worth IDr2 trillion due to the adequate financing.

Pegadaian Finance Director Budiyanto said the suspension is scheduled in this yearend or early next year.

"We previously planned to prepare bond issuance for the financing in semester I/2010 but the loan provided by three banks worth IDR5 trillion is still adequate," he said to Bisnis last week.

The loan here is those given by PT Bank Negara Indonesia Tbk (BNI) worth IDR3 trillion, and PT Bank Mandiri Tbk and PT Bank Rakyat Indonesia Tbk (BRI) worth each IDR1 trillion.

Last year, Bank Mandiri provided IDR3.50 trillion, BRI IDR4.50 trillion, BNI IDR400 billion, BCA IDR1 trillion loans.

The working capital facility here will be used for new additional outlets and new business expansion. So far Pegadaian has 4,700 outlets.

Budiyanto said the company has not appointed yet underwriter to handle bond issuance despite the invitation given to some securities early this week.

In July 2009, the company has issued XIII/2009 bonds worth IDR1.5 trillion to cover business expansion funds.

Early this month th e IX/2002 bond series worth IDR269.55 billion of Pegadaian matures. The bond series here were initially issued worth IDR300 billion.

Data of the Indonesia Stock Exchange (IDX) shows now the bond of Pegadaian is still floating at secondary market standing at IDR3.26 trillion.

Bisnis records the corporate revenue target is IDR75.7 trillion this year. With such large amount of turnover, the company aims to rake IDR1.45 trillion profits.

The turnover value swelled up to 60 percent as from last year worth IDR48 trillion.

The company tapped IDR1.1 trillion net profits or exceeded the target of the State Enterprise Ministry worth IDR1 trillion. (Bisnis/iaa/faa)

0 comments:

Followers

Bisnis Online Free Automatic Backlink Investing Blogs - BlogCatalog Blog Directory