PTPN X to Issue Bonds Rp 700 Billion, Supports Business Expansion

Expected this year, PT Nusantara Plantation X (Persero) to issue bonds worth Rp 700 billion. Proceeds from the bond issue will be used to support the company’s expansion.

Preparation of the bond issue amid accelerated. “Using fiscal year 2012 financial statements, we expect bond issuance could take place the first half of this year,” said Finance Director PTPN X Dolly P. Pulungan in Surabaya, on Tuesday (04/09/2013).

The move has also been sanctioned mentioned the Ministry of SOEs. Later, PT Bahana Securities and PT AAA Securities to be implementing the underwriters in the issuance of these bonds.

“We get ratingA + Rating Agency of PT Indonesia (Pefindo.) This illustrates a stable outlook and the company’s performance continues to increase, so we’ll coupon bonds attractive to investors,” said Dolly P Pulungan.

The bond proceeds will be used for working capital replacement refinancing of banks with interest rates that are high enough to sustain the business three sugar mills (PG) in South Sulawesi, which Takalar PG, PG Bone, and PG Caming.

Three sugar mills, said Dolly P Pulungan, now managed by PTPN X corresponding duty of the Ministry of SOEs. With the proceeds of the bonds, the company could obtain cheaper funding costs than bank credit that has been used by the three PG.

“In the future we will be racing performance by improving the farming sector (on-farm) and processing (off-farm), especially with mechanized approach for optimal results,” added Dolly P Pulungan.

Three sugar factories in South Sulawesi, continued Dolly P Pulungan, has been working on a land area of โ€‹โ€‹11,000 hectares. In the future, will be developed into 15,000 acres along the expansion.

PTPN X will apply best agricultural practices by providing superior varieties, cultivation methods are effective, and that grade plant processing systems by optimizing engine performance.

Dolly P Pulungan added, in addition to the three PG in South Sulawesi, the bond proceeds will also be devoted to boost the performance of eleven sugar factories owned by the company’s in East Java.

“We are targeting production of 538,000 tons of sugar this year, up from last year’s 494,000 tonnes. We are the market leader in national sugar industry since 2006 and until now has not been deterred,” he said.

Currently, PTPN X has 11 sugar mills in various cities in East Java, three tobacco plantations in Jember (East Java) and Klaten (Central Java), a subsidiary of the production of plastics, a subsidiary of the field of health care services, and investments in manufacturers edamame export oriented. In addition, the company was also tasked by the Ministry of SOEs to manage three PG in South Sulawesi who previously managed another state.

In addition to proceeds from the issuance of bonds, it also set up internal cash to sustain performance improvement. “We will improve the quality of the sugar with the purchase of five tools smoothing juice worth USD 25 billion, which is used to smooth juice with the ultimate goal of improving the efficiency of purification. If the quality of the sugar increases, automatic selling price of the auction will be increased. This is consequential to increase revenue,” he explained.

In 2012, PTPN X posted a pretax profit of Rp 506 billion, an increase of 140 percent compared to the achievements of 2011 amounting to Rp 210 billion.

Flooded Garut cap craftsmen Orders

Craftsmen cap in Garut regency, West Java, flooded with orders. Their turnover also increased significantly by up to 80 percent of the day usually. “Orders have started much before entering the fast,” said one craftsman, Uus Saefulloh, 34, of Kampung Barileuk, District Samarang, Saturday, July 20, 2013.
According to him, the more ordered cap made โ€‹โ€‹of cotton fabric and knitted materials. However, to meet the market demand, he claimed to produce 10 kinds of cap. Goods sold many of them hired skullcap An-Nur and knitted silk screening, screen printing opal, opal knitted, and copies of zam-zam or popularly called Madun Si cap.
In one day, Uus claimed capable of producing 250 to 400 scores to employ more than 10 employees. Price per kodinya varies, depending on the material and the level of difficulty in the making. Start up Rp80.000 50,000 per kodinya. “In sebulun like today, can get a turnover amounting to Rp48 million,” he said.
Other craftsmen, Dian Kusdinar, 40 years old, resident Sukapadang, Tarogong Kidul, admitted, increasing the ordered items will take up ahead of Eid al-Adha. The reason is because many Muslims who used to worship tarawih and silat Id. If before the pilgrimage season, skullcap is usually used as a souvenir. “The business of this production is a routine every year,” he said.
Skullcap from Garut has penetrated the market in Jakarta, Surabaya, Jambi and Padang. Not only that, there are also among the large employers who send skullcap from Garut to be exported to foreign countries such as Middle East countries.

Food and Beverage Distribution Gain Revenue U.S. $ 865.2 Million…

JAKARTA – PT Petrojaya Boral Plasterboard preparing inaugurated its new factory in Cilegon, Banten. The plan to increase production capacity in Indonesia gypsum board.

Marketing Manager Teresa F. Petrojaya Boral Plasterboard Lilya said, the plan was to increase the production capacity to double, from 35 million square meters to 65 million square meters. Right now we should be able to increase the supply to its biggest market in Jakarta, Medan, Surabaya, and Makassar.

“So far we are still the market leader for gypsum products in Indonesia with a market share of 50 percent,” said Theresia in Jakarta, Wednesday (24/07/2013).

“For the market segment dominated in Jakarta 60 percent retail, while 40 per cent for high end projects,” he added.

Theresia said, for gypsum product sales, growth rate averaged 15 percent per year. The rapid growth of residential property projects ranging, apartments and offices currently contributed to the increasing demand for gypsum products from Jayaboard.

“However, we have not been able to explain the sales figures,” he said.