JAKARTA. Accompany your activities in this weekend, we present a number of news in the stock market, November 29th, 2014.
PT Astra International Tbk (ASII)
PT Astra International Tbk (ASII) predicts the automotive business was slow until next year. Demi overcome, ASII will strengthen distribution and dealer network to build 10 to 15 new dealers in 2015.
Iwan Hadiantoro, Chief Group Treasury & Investor Relations ASII, say, every dealer usually needs Rp 50 billion. Thus, to establish 10 dealerships to 15 dealers in the next year, ASII prepared Rp 500 billion to Rp 750 billion.
"So not only encourage new products but services and distribution networks continue to expand," said Iwan in Bogor, Friday (28/11). ASII also continued to boost production capacity by purchasing a new machine.
Iwan predict next year ASII automotive business is not growing significantly. You see, there is still pressure from rising interest. Thus, ASII want more businesses to diversify and reduce dependence on the automotive business.
Head of Investor Relations ASII Tira Ardianti added, until September 2014, the contribution of the automotive business accounted for 59% of total revenue ASII. However, the contribution of the shrink compared to last year amounted to 68%. In the next few years, the contribution of the automotive business and non-automotive business ASII expected to be balanced. "Now we do not want to be dependent on the automotive business. We will enlarge other business lines," he added.
PT Sri Rejeki Isman Tbk (Sril)
PT Sri Rejeki Isman Tbk (Sril) continues to add to the debt in the form of US dollars. Issuers known as Sritex this issue debt securities in the form of medium term notes (MTN) worth US $ 30 million.
The bond coupon of 6% per year. Meanwhile, the tenor is three years. A Fitch Ratings rank pinned to the MTN.
In mid-November, Sril newly issued bonds of US $ 70 million. This is in addition to the bond of US $ 200 million which was released in April. The series of debt securities that provide a coupon of 9% with a tenor of five years. "MTN worth US $ 30 million local specialty. If the value of US $ 70 million is the global bond," said Welly Greetings, Sril Corporate Secretary, on Friday (28/11).
So, in total Sril has issued bonds worth US $ 300 million. Sril middle require substantial funding. Funding is needed to refinance or debt refinancing and expansion capital.
Of US $ 110 million of the proceeds of the bonds used to refinance debt that has 11% to 12%. Then the rest will be used to finance the expansion of production capacity.
In 2017, Sril targeting garment production capacity to 30 million pieces per year, finishing to 240 million yards per year, weaving into 180 million to 240 million meters per year, and spinning spindle reaches 610,000 per year.
SLJ Global Tbk (SULI)
SLJ Global Tbk (SULI) won extension of debt repayment. Companies engaged in the forestry and mining sector is to restructure the remaining principal loan worth US $ 43.2 million to the Bank.
This debt includes credit tranche A US $ 14 million and tranche B US $ 29.1 million. "Fundamental restructuring scheme is rescheduling repayment until December 2023," said Hasnawiyah Sono, Company Secretary SULI, in IDX information disclosure, Friday (28/11).
However, this agreement is not unconditional. SULI must release collateral in the form of nine units of the generator to be sold. Worth US $ 1 million proceeds paid to the bank to reduce its debt tranche of A. Thus, the payment no later than 18 November 2018.
Failure to maintain this debt restructuring, SULI issued a letter of agreement or promissory notes to Capital Partners Pte Ltd to borrow bailout of US $ 1 million one- year. This is an act of anticipation course, if the offering letter is not valid, while the collateral assets have not been sold.
Issuers formerly PT Sumalindo Lestari Jaya Tbk red report card is listed in the third quarter of 2014. SULI swallow loss of Rp 43.77 billion. In fact, revenue increased 199% year-on-year (yoy) to Rp 349.66 billion.
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