JAKARTA (Yosefardi) – Offset printing and corrugated packaging firm PT Dwi Aneka Jaya Kemasindo Tbk (DAJK) is to seek loan of Rp2.2 trillion, consisting of syndicated loan of Rp1.45 trillion and billateral loan of Rp750 billion.

DAJK opts to make loan from state banks with tenor of 5-6 years. The loan will be mostly used to fund the construction of its 4th corrugated cartoon factory in Subang, West Java with capacity of 10 metric tons (MT) per month, expected to commence commercial operation by 2017.

DAJK will also use the loan to refinancing its existing debt of Rp652.5 billion, to fund working capital (Rp375 billion), to fund its capital expenditure (Rp435 billion).

DAJK booked net profit of Rp49.66 billion in the first half of 2015, dropped 9.82% compared to the same period of 2014. While net sales rose 27.98% to Rp535.24 billion but cost of goods sold also jumped 36.95% to Rp366.39 billion.

DAJK targets sales to reach Rp1.14 trillion this year, down 5% from initial target of Rp1.2 trillion.