Search This Bitch

Loading...

AddThis?

Share |

Tuesday, December 21, 2010

Fajar Wisesa revenue IDR4.3 trio next year

BI/bursa
21/12/2010
Irvin Avriano A.
Bisnis Indonesia

Fajar Wisesa revenue IDR4.3 trio next year

JAKARTA: PT Fajar Surya Wisesa Tbk, a listed packaging paper company, projected their revenue to IDR4.3 trillion next year.

Fajar Wisesa Director Hadi R. Ongkowidjojo said the increased prediction is up to 35.51% above this year estimated number, IDR3.17 trio.

The so-called-target are came from the upgraded paper production capacity that will be increased to 1 million metric ton next year from previously only 715,000 metric ton per year.

"We also assumed next year the paper price will rise, that will throw benefit to the company," said him when contacted this evening.

The FASW coded emitter is in a process to upgrade its capacity by build a new paper machine, numbered 5 paper machine that have 300.000 metric ton capacity of corrugated premium paper. The paper machine construction expected to finish on January next year.

To support the projection, the company that commandeered by Winarko Sulistyo also intends to budgeting US$60 million, or equals to IDR543.09 billion for next years capital expenditure.

The fund, that will obtained by bank loan and internal cash, will used to boost capacity and modified another paper machine, number 7 and 2, that will be developed in 2011--2012 period.

The capacity extension for paper machine 7 will need around US$40 million funding, and will upgrade its utilization from 200,000 metric ton to 330,000 metric ton. The process will start in 2011.

The modification of paper machine 2 will started by build a new incinerator that will need another US$12 mio next year, and the utilization upgrade will need US$ 30 mio in 2012.

The process will jacked up its machine 2 production from earlier 150,000 metric ton to 270,000 metric ton per year. The company expected its production will be upgraded to 1.2 million metric ton per year in the end of 2012.

"We still review the agreement with our bank client to fund our needs, it will be formed as export credit," Hadi mentioned.

The bank client refers to Export Credit Agencies and HSBC, that already prospected by the company in earlier days but not yet find its finalization.

The company already pocketed another bank loan from HSBC Ltd, PT UOB Buana, and Oversea-Chinese Banking Corporation Ltd (OCBC) in October 22nd amounted to IDR120 mio.

The loan will be used to paid off its US dollar denominated bond amounted to US$100 mio in October 2011.

The pocketed loan also made their bond rating upgraded by Standard & Poor's from B to B+ level last week.

The issuance made through Fajar Paper Finance BV, its subsidiary which incorporated in the Netherlands. The bond rated of 10.75% per annum coupon and released at a price level of 97.66%.

Fajar Wisesa producing premium paper, mostly corrugated one, only from recycling waste paper. Mostly around 60% they get raw material from domestic, while the other from import.

0 comments:

Followers

Bisnis Online Free Automatic Backlink Investing Blogs - BlogCatalog Blog Directory