JAKARTA (Yosefardi) – Coal miner PT Indika Energy Tbk (INDY) restructure its units to develop its energy resources business.
Indika Capital Pte Ltd transfers 10% shares of PT Indika Indonesia Resources (IIR) to PT Indika Inti Corporindo (IIC), as a result IIR status is now changed to domestic investment company, from earlier foreign investment entity.
INDY allocates US$113.5 million capital expenditure (capex) for this year, funded by internal cash. The company targets to produce 41 million tons of coal this year, compared to 39.1 million tons last year.
INDY booked net profit of US$8.49 million in the same period of 2014, against US$7.93 million loss in the same period of 2013. While revenues grew by 26.57% to US$523 million.