JAKARTA (Yosefardi) – PT First Media Tbk (KBLV), cable television and internet business unit of Lippo Group, suffered loss of Rp103.38 billion in 2013, compared to loss Rp105.16 billion in 2012.
The company recorded tax expenses of Rp57.78 billion and financial charges of Rp99.74 billion. Operating profit then declined to Rp187.33 billion.
KBLV, however, boosted its revenue by 32.58% to Rp1.75 trillion in 2013, from Rp1.32 trillion in 2012. It has cash and cash equivalent of Rp392.45 billion. Its assets totaled Rp5.24 trillion while liability amounted Rp2.8 trillion.
Media earlier reported PT Link Net, subsidiary of PT First Media Tbk (KBLV) plans to launch its IPO (initial public offering) in May or June this year, to offer 10-15% shares to public.
The company will use the IPO proceeds to fund its capex this year, It will start to expand its pay tv (BigTV) and optic cable-based broadband (high speed internet services).