Prasidha to issue bonus shares<\/p>\n
JAKARTA (JP): Shareholders of the publicly listed PT Prasidha
\nAneka Niaga (PAN) approved a plan to issue 60 million bonus
\nshares.<\/p>\n
The company's president, Mansjur Tandiono, said the issue
\nwould increase the number of shares to 180 million.<\/p>\n
\"We decided also to split the share's nominal value from Rp
\n1,000 (41 U.S. cents) to Rp 500 and the split will double the
\nnumber of the shares to 360 million,\" Mansjur said after the
\nannual general and extraordinary shareholders meeting.<\/p>\n
PAN is still waiting for the Capital Market Supervisory Agency
\nto approve the split and the bonus issue.<\/p>\n
PAN's manager for investor relations, Taufik Alia, said the
\nshare split would improve the liquidity of PAN shares because
\nthey would become more affordable for small investors.<\/p>\n
\"We expect the price of PAN shares to decline by a third after
\nthe bonus share issue and the share split,\" he said.<\/p>\n
PAN's director of finance, Sukiantono Budinarta, said the
\ncompany's consolidated net profit rose from Rp 26.7 billion in
\n1995 to Rp 30.6 billion last year despite a drop in sales revenue
\nfrom Rp 752 billion to Rp 740.8 billion.<\/p>\n
The company's total assets fell from Rp 431 billion to Rp 410
\nbillion, while its equity rose from Rp 226 billion to Rp 244
\nbillion.<\/p>\n
PAN, Indonesia's biggest processor and exporter of food and
\nplantation products, like coffee, cocoa, rubber, tapioca, vanilla
\nand pepper, is listed on Jakarta and Surabaya stock exchanges.<\/p>\n
PAN exported 100,00 tons of the 119,000 tons of coffee beans
\nit produced last year. This is about a quarter of Indonesia's
\ncoffee exports. Indonesian coffee makes up about 2 percent of
\nworld supply.<\/p>\n
Taufik said PAN collected Rp 432 billion from coffee sales, Rp
\n199 billion from rubber sales, Rp 37 billion from tapioca sales,
\nRp 49 billion from cocoa sales, Rp 17 billion from pepper and
\nvanilla sales. Revenue from its hotel service was Rp 5 billion,
\nwhile other sectors contributed Rp 700 million.<\/p>\n
He said coffee bean sales were expected to drop to Rp 342
\nbillion this year but the company would get Rp 57 billion from
\ninstant and ground coffee sales.<\/p>\n
Tapioca sales are expected to fall to Rp 33 billion, rubber
\nsales to rise to Rp 250 million, pepper and vanilla to Rp 26
\nbillion. Revenue from cocoa sales are seen constant at Rp 49
\nbillion and its hotel service steady at Rp 5 billion.<\/p>\n
Mansjur said the company invested US$23 million last month on
\na new coffee processing plant in Sidoardjo, East Java. The new
\nplant will have an annual production capacity of 2,400 tons of
\nground coffee and 3,600 tons of instant coffee. (10)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/prasidha-to-issue-bonus-shares-1447893297",
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"sponsor": "Okusi Associates",
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