BI/exchange
03/06/2010
Irvin Avriano A.
Dynaplast eyes 10% increasing revenue
JAKARTA: PT Dynaplast Tbk, a manufacturer of rigid plastic packaging and components, targets increasing revenue by 10% this year, or to IDR1.64 trillion from IDR1.49 trillion in 2009.
"We are targeting our revenue could grow 10%, since early this year just a few of our customers have increased the demand of its products," said Dynaplast Finance Director Andi Hartanto told Bisnis in Thursday.
To sustain its growth, the company will equip the new factories in Kawasan Industri Jababeka which the new land was purchased for IDR27 billion by the end of last year.
The new factory in the location, he said, predicted will add production capacity for the company and its subsidiaries that currently stands at 55,000 metric tonnes per year.
The company already have factories in Cikarang, not far from Jababeka. They also have subsidiaries in other countries, namely Berli Dynaplast Co Ltd in Thailand and Dynaplast Packaging Vietnam Co Ltd, that also have their own factories.
The other subsidiaries are PT Sanpak Unggul in Bogor, PT Rexplast Corporation in Surabaya, and PT Rapidtech, a helmet trading company, in Jakarta. But the emitter have not related with PET producer Malaysian based company that have similar name, Dynaplast Malaysia.
Next month, Andi said, the new plant would begin operating in stages, and is expected to be fully operational by next year or in 2012 with a fund-investment of around IDR100 billion to IDR200 billion.
If the factory has been fully operate, he said, the company predicts the number of production will grow by 8000 metric tonnes from the current installed capacity.
Dynaplast President Director Tirtadjaja Hambali said the annual general meeting of shareholder of the company affirmed to distribute a dividend of IDR31.47 billion to shareholders, or a total of IDR100 per share.
He said that the dividend distribution, which represents 47.98% of total company net income last year, has included an interim dividend of IDR50 per share.
"Distribution of dividends included in the decision of the AGM."
According to him, in the general meeting of shareholders, the company also has obtained approval from its investors to pledge assets of the company to obtain bank loans at any time. But he added, currently the company has not been able to itemize the amount of bank loans that have been targeted.
He said the company also has obtained approval to do the borrowing and lending of funds by some of the subsidiary business. In the AGM, the company and its shareholders also accept the resignation of one of the company commissioner, Santoso Symkoputro.
Company revenues increased by 7.95% to IDR1.49 trillion throughout 2009 from IDR1.38 trillion in 2008. Net income was booked at IDR65.58 billion, an increase of 2,343,166% compared to IDR2.79 million that booked in 2008.
Gain in foreign exchange are the main factor of the increasing net income last year that reached IDR15.81 billion, compared with losses in 2008 amounted to IDR44.19 billion.
Per quarter I/2010, the main bottles supplier for PT Unilever Tbk and Tupperware brand (only for its products in Indonesia) posted an increase revenue of 3.39%, or IDR360.89 billion from IDR349.04 billion in 1stQ/2009. Company's net icome also reached IDR16, 53 billion which increased by 129.65% from IDR7.19 billion in 2008.
Losses from foreign exchange are one of the most influential post in the emitter financial statement in the 1stQ/2010, which is only recorded at IDR73.98 million this year, compared with last year as much as IDR6.67 billion.
The company was establish in 1959, and listed their shares in the capital market in 1991. The company have done rights issue two times, in 1994 and 1997.
The stock price which coded DYNA closed stagnat at IDR1.040 level yesterday, and formed its market capitalization of the company of IDR327.29 billion.
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