JAKARTA (Yosefardi) – Shipping company PT Samudera Indonesia Tbk (SMDR) booked net profit of US$8.95 million in the first half of 2015, grew by 5% from US$8.53 million in the same period of 2014.
Revenue however declined 10%, from US$258.52 million due to rupiah depreciation and decline in commodity prices. The company continues focusing on cost efficiency which boosted revenue by 146% last year.
SMDR plans to launch the initial public offering (IPO) of its subsidiary PT Samudera Terminal Indonesia (STI) by end of this year. STI will build some ports inline with the government expectation.
STI is also set to develop Phase II of Samudera Palaran port, boosting its capacity to 330,000 TEUs from current 230,000 TEUs. This project costs around US$320 million. SMDR plans to purchase 3 units of chemical tanker.