by: Irvin Avriano A.
JAKARTA: PT Capitalinc Investment Tbk plans to increase its capital by issuing new series B shares without preemptive rights at the price of IDR1,700 to derived capital as much as IDR123.88 billion.
The shares which will be released has a different offering value with the nominal value of the shares pegged at IDR1,500.
One of the companies owned by Recapital Advisors Group predicts its revenue will reach US$51 million next year, most of which, or US$43 million, will be contributed by oil and gas blocks controls by the company.
This was revealed in the company presentation submitted by the company to the Indonesia Stock Exchange (IDX) earlier this week. The company also forecasts its earnings before interest, taxes, depreciation, and amortization (EBITDA) will reach US$36 million, the U.S. $ 35 million is contributed from oil and gas sector.
The company also predicts the revenue to have a double incrase in 2012 to US$103 million, and donations from oil and gas blocks for US$92 million.While, the company predicts EBITDA to reach US$75 million and contributions from oil and gas blocks to reach US$73 million.
Previously, the company only engaged in finance, infrastructure, and investment business, however the predictions show that the company will depend on oil and gas division.
When confirmed, the President Director of Capitalinc Budi Prihantoro confirmed these predictions. However, he can not be contacted because he was in a meeting. "It is true that it is accordint to the appropriate materials, I still have meetings, so it's rather difficult to communicate, thank you," he said via short message service(SMS).
He also confirmed the company intends to reduce debt to equity ratio (DER) from the level of 12.9 times to 1.6 times after the capital increase without preemptive rights.
In the information disclosure, the company plans to reduce the debt ratio along with the plan to issue new shares amounting to 72.87 million shares, or worth about IDR109.31 billion.
The company also intended to focus its business unit in the oil and gas sector particularly by developing its new acquired company namely, PT Kutai Etam Petroleum, PT Kencana Surya Perkasa, PT Mosesa Petroleum, PT Cahaya Batu Raja Giok and Greenstar Assets Ltd.
By acquiring those five companies, Capitalinc shall control some oil and gas blocks, including Ibul, Tonga, Air Komering, Seingangka-Senipah, Suci and East Kangean.
Budi once stated that his company shall utilize the fresh fund derived from such non-preemptive rights to settle its promissory notes (PN). The notes are the debt of Capitalinc’s newly acquired companies
“Investors requires the Debt Equity Ration to be lower than the current rate,” he said yesterday.
Based on the company’s trading database on Tuesday, the MTFN-coded share was closed at IDR1,500 , retreated by IDR100 or 6.25%, leaving the market capitalization at IDR1.09 trillion.
In the information disclosure submitted to IDX, the company apparently has appointed PT Madani Securities as its financial consultant.
Adding to that, Capitalinc plans to use half of the fresh funds generated from such corporate action to provide capital to its oil and gas subsidiary.
Capitalinc delayed the plan to conduct stock split that was scheduled in its extraordinary shareholder meeting as it still reviews the notion to hold a right issue by next year. (t02/t03/wiw)
The shares which will be released has a different offering value with the nominal value of the shares pegged at IDR1,500.
One of the companies owned by Recapital Advisors Group predicts its revenue will reach US$51 million next year, most of which, or US$43 million, will be contributed by oil and gas blocks controls by the company.
This was revealed in the company presentation submitted by the company to the Indonesia Stock Exchange (IDX) earlier this week. The company also forecasts its earnings before interest, taxes, depreciation, and amortization (EBITDA) will reach US$36 million, the U.S. $ 35 million is contributed from oil and gas sector.
The company also predicts the revenue to have a double incrase in 2012 to US$103 million, and donations from oil and gas blocks for US$92 million.While, the company predicts EBITDA to reach US$75 million and contributions from oil and gas blocks to reach US$73 million.
Previously, the company only engaged in finance, infrastructure, and investment business, however the predictions show that the company will depend on oil and gas division.
When confirmed, the President Director of Capitalinc Budi Prihantoro confirmed these predictions. However, he can not be contacted because he was in a meeting. "It is true that it is accordint to the appropriate materials, I still have meetings, so it's rather difficult to communicate, thank you," he said via short message service(SMS).
He also confirmed the company intends to reduce debt to equity ratio (DER) from the level of 12.9 times to 1.6 times after the capital increase without preemptive rights.
In the information disclosure, the company plans to reduce the debt ratio along with the plan to issue new shares amounting to 72.87 million shares, or worth about IDR109.31 billion.
The company also intended to focus its business unit in the oil and gas sector particularly by developing its new acquired company namely, PT Kutai Etam Petroleum, PT Kencana Surya Perkasa, PT Mosesa Petroleum, PT Cahaya Batu Raja Giok and Greenstar Assets Ltd.
By acquiring those five companies, Capitalinc shall control some oil and gas blocks, including Ibul, Tonga, Air Komering, Seingangka-Senipah, Suci and East Kangean.
Budi once stated that his company shall utilize the fresh fund derived from such non-preemptive rights to settle its promissory notes (PN). The notes are the debt of Capitalinc’s newly acquired companies
“Investors requires the Debt Equity Ration to be lower than the current rate,” he said yesterday.
Based on the company’s trading database on Tuesday, the MTFN-coded share was closed at IDR1,500 , retreated by IDR100 or 6.25%, leaving the market capitalization at IDR1.09 trillion.
In the information disclosure submitted to IDX, the company apparently has appointed PT Madani Securities as its financial consultant.
Adding to that, Capitalinc plans to use half of the fresh funds generated from such corporate action to provide capital to its oil and gas subsidiary.
Capitalinc delayed the plan to conduct stock split that was scheduled in its extraordinary shareholder meeting as it still reviews the notion to hold a right issue by next year. (t02/t03/wiw)
