Dec 28, 2010

Radiant Utama eyes IDR1 trio contracts

PT Radiant Utama Intrinsco Tbk eyes IDR1 trillion contract in 2011 for technique service of oil and gas installation.
Coki Lubis acted as Corporate Secretary and also Operating Director of Radiant informed that several contracts will be readily on bidding.
While, the company also has IDR100 billion loan for its working capital. Until the first half of 2010, Radiant has pocketed Rp500 billion contract that was gained mainly from production sharing contract (PSC) of operational supporting service and the remaining came from inspection service as well as quality certification service.
The company's PSC includes Rp79 billion PSC in Kalimantan, Rp43.3 billion PSC in East Java, then Rp40.9 billion PSC in Sumatera, and Rp26.2 billion in West Java.
Recently, Radiant needs for fund injection around of US$3 million to US$4 million to finance Oil and Gas Block at Bukit Barisan, West Sumatera that was owned in 2008 and is expected to contribute for the company's revenue in 2013.

Disclosure: No position at the stock mentioned above.

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