JAKARTA (Yosefardi) – Shipping company PT Pelayaran Tempuran Emas Tbk (TMAS) is seeking loan of Rp548 billion for funding its capital expenditure (capex) of Rp685 billion for 2016.
The company opts to postpone its plan to raise funds through rights issue as the current market condition does not support.
TMAS plans to purchase 2 vessels with capacity of 360 TEUs this year. It targets to operate 21 units of vessels by end of this year.
TMAS also revised down its profit target for this year to Rp290 billion from initial Rp300 billion along with the economic slowdown. Revenue is expected to grow by 3-4% to Rp1.75 trillion this year.
Meanwhile, PT Cardig Aero Services Tbk (CASS) is also seeking loan of Rp650 billion for refinancing its debt and funding capex of Rp137 billion for this year.