Nov 30, 2010

META sets Rp450 bio revenue in 2011

 Toll road operator PT Nusantara Infrastructure Tbk (META) targets 25% revenue increase or Rp450 billion by next year, compared to this year’s revenue target by Rp360 billion.
Finance Director of Nusantara Infrastructure Danni Hasan confirmed the infrastructure company is optimistic for a stronger operational performance by next year, following Rajawali group as a new shareholder.
“Operationally, our revenue can go up 25% for a coming year,” he said.
The acquisition of 3.2 million shares by Rajawali Group, as he continued, leads to lower significantly cost of fund and credit risk. On the other hand, today Rajawali Group announced for 23.6% acquisition of the shares worth IDR448 billion.
Meanwhile, the composition of the shares are Rajawali Group with 23.6%, followed by Hong Kong-based Eagle Infrastructure Ltd with 25%, PT Bosowa Trading with 22%, and the remaining shares owned by public.
“Price negotiation had been held last week. At the time, the price stood at Rp140 that was equivalent with transacted price in the market. The Meta-shares price soars recently,” he said.

Disclosure: No position at the stock mentioned above.

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