JAKARTA (Yosefardi) – PT Jaya Agra Wattie (JAWA) is also studying to seek syndicated loan from state banks, partly used to fund its capital expenditure (capex) of Rp500 billion for this year.
The company has decided to cancel the bond issue worth Rp300 billion planned for this year as the market condition would of support.
JAWA needs funds for acquiring plantation area of 10,000-20,000 hectares 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.