JAKARTA (Yosefardi) – PT Jaya Agra Wattie Tbk (JAWA) plans to issue bonds worth Rp500 billion next year, after cancelling its Rp300 billion bond issue planned for this year as the market condition did not support.
The bond fund will be used to acquire plantation area. The company is now seeking to acquire 10,000-20,000 hectares land in East Kalimantan and Central Kalimantan.
It also plans to build CPO mill with capacity of 45 tons per hour, which costs Rp140 billion. JAWA booked net profit of Rp55 billion in first nine months of this year, declined 54% from Rp120.6 billion in the same period of last year.
Sales declined 11.6% to Rp457 billion from previous Rp517.25 billion. The company targets to book revenue of Rp725.29 billion this year.