Oct 25, 2010

Tri Polyta to pay Rp65 dividend

Petrochemical products maker PT Tri Polyta Indonesia Tbk (TPIA) today officially announces Rp65 per share interim dividend.
In a public announcement today, Tri Polyta's board of commissioner has approved the distribution of dividend interim. Tri Polyta also plans to merge with its sister company PT Chandra Asri.
The merger is estimate to generate a combined revenue amounting Rp17 trillion-Rp20 trillion per year along with US$1.5 billion (Rp13.35 trillion) assets.
Referring to the company’s performance as per June 2010, the merger of Tri Polyta, the maker of 360,000-ton polypropylene per year, and Chandra Asri, the producer of polypropylene, ethylene and polyethylene, may result in Rp17 trillion-Rp20 trillion total sale per year.
Tri Polyta is estimated to book Rp5 trillion revenue per year, while Chandra Asri may post three times higher revenue than Tri Polyta. With regard to gross profit, such joint venture controlled by PT Barito Pacific Tbk (BRPT), the holding company owned by Prajogo Pangestu, may generate Rp1.5 trillion gross profit.

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: