JAKARTA (Yosefardi) – PT Indosat Tbk (ISAT) targets to book net profit next year through taking some efforts amid the rupiah’s fluctuation.
It plans to issue rupiah bonds worth minimum Rp455 million and to sell 7,000 telecommunication towers next year.
Currently ISAT operates 8000 towers. ISAT suffered net loss of Rp2.78 trillion last year as its foreign exchange (forex) loss widened to Rp3.01 trillion.
The bond proceeds will be used to refinance its guaranteed notes of US$650 million scheduled to mature in 2020.
ISAT earlier said it plans to convert 75% of its dollar bond debt (US$650 million) into rupiah for avoiding foreign exchange loss due to the rupiah weakening against the US dollar.
The company targets to have positive cash flow next year. ISAT allocates capital expenditure (capex) of Rp16 trillion for this year and next year.