JAKARTA (Yosefardi) – PT Visi Media Asia Tbk (VIVA), member of Bakrie Group, reported net profit of Rp22.39 billion in first nine months of 2013, dropped 74% from Rp85.27 billion in the same period of 2012.
Revenue increased 24% to Rp1.14 trillion from previous Rp916.53 billion while operating expenses also rose 16.6% to Rp813.88 billion.
The company also recorded other charges of Rp202.53 billion, of which interest and finance charges accounted for Rp135.71 billion.
Its assets totaled Rp3.59 trillion while liability amounted Rp1.59 trillion. The company has cash and cash equivalent of Rp747.59 billion.
On November 1, 2013, VIVA secured US$230 million loan facility from Credit Suisse AG (Singapore branch), used to repay outstanding loan from Deutsche Bank (Hongkong branch), shareholder loan, and working capital. The loan carries interest rate of 7.75% plus 3 month LIBOR.