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Sunday, January 30, 2011

Trimegah issue IDR24.11 bio and 11.925% PN

BI/bursa
30/1/2011
Irvin Avriano A.

Trimegah issue IDR24.11 bio and 11.925% PN

JAKARTA: PT Trimegah Securities Tbk issued a promissory notes (PN) XVIII/2011 series worth IDR24.11 billion last weekend, which will mature in October.

Trimegah Director Ubaidillah Nugraha said fund from the issuance will be use to give margin facility to their customers.

Based on Indonesia Central Securities Depository (PT Kustodian Sentral Efek Indonesia/KSEI) last weekend, the one of listed securities company will give coupons worth 11.925% per annum for their debt investors.

Ubaidillah said the fund from the PN issuance can be used to support IDR200 bio—250 bio margin financing target for the company which shares coded TRIM.

“Besides potential equity trading and increasing mutual funds AUM [asset under management], one of other business that attract high demand is margin facility,” said the new director that usually called Ubai, in a short message service this afternoon.

He said besides from the PN issuance, the company also reviewing ways to use internal cash to give margin financing. According to him, the PN issuance has been counted bank loan as another fund source, related to bigger equity transaction in the capital market nowadays.

Ubaidillah added the company still open the possibility of issuing a kind of debt securities, remembering the tenures for the PN is only for 270 days. Hence, he cannot assure the amount of the next PN issuance this year.

“The amount is depends on the needs that will come later.”

Trimegah have targeted the AUM for their only and ner subsidiary, PT Trimegah Asset Management, become IDR5.2 trillion—5,5 trio this year, increase 2 times from last year position worth IDR2.6 trio.

Trimegah President Director Omar S. Anwar have said the company depend on their subsidiary in fund management business industry to boost their revenue that targeted can increase 30%--40% this year from last year position.

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