Bakrie Sumatra to obtain new loan<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
PT Bakrie Sumatra Plantations Tbk, a publicly-listed company
\nspecializing in oil palm and rubber plantations, has received an
\nindicative approval for a US$75 million loan, according to
\npresident director Ambono Janurianto.<\/p>\n
The syndicated loan, coming from a mix of foreign and local
\nbanks, will be used to pay off an existing $51.7 million loan
\nthat is due at the end of 2006.<\/p>\n
\"The indicative interest rate for the new loan is the SIBOR
\nplus 2.25 percent to SIBOR plus 2.75 percent,\" said Janurianto,
\nreferring to the Singapore Interbank Offered Rate. \"The existing
\nloan's term is SIBOR plus 3.5 percent, so we'll save about Rp 5
\nbillion.\"<\/p>\n
He said that because the company wanted to use a substantial
\nportion of its assets as collateral, it would need to obtain
\napproval from its shareholders before the new loan materializes.<\/p>\n
Janurianto, who was speaking after a general shareholders'
\nmeeting on Wednesday, expressed optimism that the company would
\nreach its revenue growth target of between 15 percent and 20
\npercent, based on the company's first quarter sales of roughly Rp
\n150 billion (US$15.90 million).<\/p>\n
\"The results are in line with our 2005 revenue target of Rp
\n800 billion,\" said Janurianto, whose company booked sales of Rp
\n696 billion in 2004.<\/p>\n
He added that the company's dividend payment of Rp 6 per
\nshare, which represents 15 percent of the company's net profit of
\n95 billion in 2004, was the first in six years. (002)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bakrie-sumatra-to-obtain-new-loan-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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