Business Development, This Year PT PP Presisi Tbk Ready to Acquire Japanese Origin Company

By : Arya Mandala And Aldi Firhand. A | Sunday, February 18 2018 - 21:42 IWST

President Director of PT PP Precision Tbk Iswanto Amperawan, Finance Director Benny Pidakso and Independent Director Arief Subyandono after Public Expose PT PP Precision Tbk (dok INDUSTRY.co.id)
President Director of PT PP Precision Tbk Iswanto Amperawan, Finance Director Benny Pidakso and Independent Director Arief Subyandono after Public Expose PT PP Precision Tbk (dok INDUSTRY.co.id)

INDUSTRY.co.id - Jakarta, In support of business development plan, this year PT PP Presisi Tbk (PPRE) prepares capital expenditure (capex) amounting to Rp 1.5 trillion Rp 1.6 trillion.

Most of the budget will be allocated to buy 500 700 units of dump trucks, then escavator and bulldozer.

Some again buy land area of ​​about 10 hectares in Bekasi or Cikarang, West Java for the expansion of the warehouse or heavy equipment parking.

The financial director of PPRE, Benny Pidakso, said that the company still has the proceeds from the initial public offering (IPO) of around Rp 1 trillion, some of which can be used for capex.

The rest we can use the banking loan facility, he said some time ago in Jakarta.

According to him, the net gearing ratio at 0.1 times has wide space to access external funding.

Good bank loans, bond issuance or medium term notes (MTN).

But we prefer banking loans, he explained.

Meanwhile, the main director of PPRE Iswanto Amperawan said that business development is also done through inorganic steps by acquiring two companies.

The acquisition is said to be Iswanto is targeted to occur in the first half of 2018 with an allocation of approximately Rp320 billion.

It is said Iswanto is currently doing due diligence for the corporate action plan.

The company to be acquired according to him is a Japanese company engaged in the field of erector.

In addition, PPRE will also buy shares of local companies engaged in the foundation.

The local company we want to acquire has a huge market outside the parent company, PT PP (Persero) Tbk., He said.

He added that the funds used for acquisitions go into capital expenditure allocation in 2018 worth Rp1.6 trillion as mentioned above.

As previously known, in the past year PPRE has acquired 51% shares of PT Lancarjaya Mandiri Abadi (LMA) worth Rp331.5 billion.

The funds used for the acquisition of LMA said Iswanto sourced from the company's internal cash.

News Comment

Today's Industry

NORD-DuoDrive.jpg: The innovative and patented DuoDrive geared motor reaches outstanding system efficiency Image: NORD DRIVESYSTEMS

Selasa, 17 Mei 2022 - 14:00 WIB

NORD DRIVESYSTEMS at LogiMAT in Stuttgart From 31st May to 2nd June 2022 NORD will present innovative drive solutions for intralogistics

The specialist LogiMAT exhibition in Stuttgart offers as comprehensive overview of the intralogistics and process management market. As one of the market leaders for drive technology, NORD presents…

President Jokowi attends the meeting between ASEAN leaders and American entrepreneurs at Intercontinental the Willard Hotel, Washington DC, Thursday (05/12). Photo by: Laily Rachev

Selasa, 17 Mei 2022 - 13:00 WIB

President Jokowi Invites US CEOs to Boost Cooperation with Indonesia

President Joko “Jokowi” Widodo has invited company CEOs in the United States to boost cooperation with ASEAN countries, particularly Indonesia.

President Jokowi, President Biden, and ASEAN Leaders on a group photo prior to the dinner, at the White House, Washington D.C., Thursday (05/12)

Selasa, 17 Mei 2022 - 12:28 WIB

President Jokowi, ASEAN Leaders Attend Dinner Hosted by US President

President Joko “Jokowi” Widodo Thursday (05/12) attended a dinner with the leaders of ASEAN countries hosted by President of the United States Joe Biden at the White House, Washington D.C.

(Photo: © 2022 KRAIBURG TPE)

Selasa, 17 Mei 2022 - 11:23 WIB

TPE unleashes benefits for pet accessories

The pet care market is rapidly expanding as pet ownership increases, as does spending on pet food, grooming tools, and accessories. Pet owners are significantly concerned about the prevalence…

Sergey Sedov, Founder and CEO of Robocash Group

Jumat, 13 Mei 2022 - 16:15 WIB

Robocash Group reached 2 BN USD of disbursement and issued audited financial report of 2021

Robocash Group publishes the audited combined financial statements for the year ended 31 December 2021. The Group reached an all-time high 2 BN USD of issued financing and is expected to increase…