Batam-based electronics component maker PT Sat Nusapersada plans to build a new factory and acquire stakes in two other companies next year to expand its operations and meet growing demand for its products, The Jakarta Post reported.
President director Abidin told reporters Thursday (8/11/07) that the company would buy a stake in PT SM Engineering and the assets of PT Sat Nusapersada Brothers at a cost of Rp23 billion (around $2.5 million).
"The acquisitions and the factory building are part of the company's strategy for future growth, which will involve capital strengthening, diversifying customer segmentation, and appointing representatives in Singapore and Japan.
"We will also use advanced technology machinery to produce high-end products," said Abidin on the same day as his company's shares were listed on the Jakarta Stock Exchange for the first time.
The shares closed Thursday at Rp640, almost 10% higher than the opening price of Rp580.
The company expects to more than double profit next year to Rp79 billion from an estimated Rp35 billion this year.
The company sold 30% of its shares on the JSX through an IPO that raised Rp308 billion.