JAKARTA (Indonesia Today) – State tin producer PT Timah Tbk (TINS) expects its net profit to reach Rp1 trillion this year, jumps 132% from Rp431.6 billion in 2012, Bisnis Indonesia reported this morning.
Akhmad Rosidi, Timah’s finance director, said the company allocates capital expenditure (capex) of Rp1.4 trillion for this year.
He said the company also targets to divest its land assets worth Rp1 trillion this year. While revenue, Akhmad said, is expected to reach Rp8-9 trillion compared to Rp7.82 trillion last year.
Timah plans to sell 176 hectares of land in Bekasi and golf court and building in Batam, Riau island.
As of December 2012, Timah’s assets reached Rp1.07 trillion while liability amounted Rp233.14 billion. (hans@theindonesiatoday.com)