Panin Sekuritas aims to rise 15% revenue

Friday, 02/07/2010 00:00 WIB

Panin Sekuritas aims to rise 15% revenue

Irvin Avriano A.

Bisnis Indonesia

JAKARTA: PT Panin Sekuritas Tbk targets the corporate revenue grow by 15 percent as from IDR222.25 billion into IDR255.58 billion this year.

Corporate secretary of Panin Sekuritas Prama Nugraha said the target is set from the estimated revenue coming form the securities transaction cost as one of the largest contributors from the corporate finance report.

"We are optimistic the trade rise in the bourse might be growing which is seen from the achieved IDR5 trillion proceeds from the customers using our service up to March 2010," he said yesterday.

To meet the target, he said the company has boosting the use of online trading facility to all customers. The company has 5,000 active customers using the facility here.

"We are optimistic the transaction will be growing up due the better market recently and the transaction value from early the year has been growing up as from last year."

He said for the business support , the company will add some 4-5 new branches in some cities.

He said to open branches the company does not plan for special fund allotment as the capital expenditure from external funding.

Considering the working capital, Prama said the company has retained some of net profits last year which were booked IDR149.36 billion as the working capital and corporate investment.

"The remaining 2009 net profit stood at IDR113.16 billion for investment and working capital and retained earnings."

The rest of the fund or IDr36 billion will be shared as dividend to the shareholder by IDR50 per share unit. The amount here is 24.93 percent of the total net profits booked by the company last year.

Prama said the company also allocates IDR200 million funds as corporate reserves.

The net profit rose 309.47 percent as from 2008 net profit of IDR36.47 billion. The corporate revenue also increased by 27.81 percent from IDR222.25 billion into IDR173.25 billion.

One of the corporate revenue contributors is investment manager service which is booked from the corporate wealth management standing at IDR2.2 trillion last year. The wealth management has been growing into IDR3 trillion in March 2010.

"As from the rise, the company is optimistic the amount will be growing and contributing revenue this year."

By December, Panin Sekuritas shareholders consist of PT Bank Pan Indonesia Tbk with 29 percent possession, PT Patria Nusa Adamas 30 percent, and public 41 percent.

With public composition possession above the level of 40 percent, Prama said the company also got tax incentive from the government.

The stock price of PANS was closed stagnant at the level of IDR710 yesterday and thus the market capitalization stands at IDR511.2 billion. (Bisnis/iaa)