Aug 13, 2010

WOM Finance to issue Rp200 bio MTN

PT Wahana Ottomitra Multiartha Tbk (WOM Finance), publicly listed multifinance player, plans to sell Rp200 billion medium term notes (MTN) on August 16 2010.
Speaking in a public announcement provided by Indonesia Stock Exchange (IDX) today, WOM Finance Corporate Secretary Fenfira Tedja said the company has signed MTN agreement on August 10 2010.
"PT OCBC NISP Tbk is the first party owned the MTN," she said in the announcement.  
WOM Finance is optimistic to raise net income in the second quarter of 2010 after posting an increasing profit in the previous quarter.
"We estimate another gain as we had in the first quarter of this year, due to the increasing demand for motorcycle financing. Data is still in auditing process and we can not measure the percentage increase," said WOM's Finance Director Alex Hermanto, recently.
He said in first half of 2010, the new financing soared 100% to Rp3.52 trillion compared to the same period last year which was only Rp1.76 trillion. The significant achievement was supported with the high business penetration in the beginning of the year.

Disclosure: No position at the stock mentioned above.

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