Feb 1, 2011

Mayora to establish Rp700 bio new plants

Consumer products maker PT Mayora Indah Tbk (MYOR) plans to establish two new plants amounted to Rp700 billion and to enlarge production capacity in Tangerang.
Mayora Director Hermawan Lesmana said the expansion fund will come from bank loan. The loan facility, he continued, will be provided by PT Bank Mandiri Tbk. “After the establishment and factory enlargement, production capacity will up 30%,” he said today.
The extra capacity is in line with financial performance improvement target of the MYOR-coded share as much as 20%-30% than last year.
For last year achievement, he predicted it will be more than Rp7 trillion, 50% higher than revenue realization in 2009.
The company, he informed, recorded an advancing net profit in 2010 that was smaller than last year revenue’s growth.
They also do not worry about this year's economic forecast that might eroded by the rising CPO and other commodities. The company will only raise production price if cost of goods sold higher than sales and make negative profit.
The Gunawan Atmadja’s company was traded at Rp150 or up 1.49% to Rp10,250 on today’s closing. The price forms market capitalization of Rp7.85 trillion.

Disclosure: No position at the stock mentioned above.  

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