May 31, 2011

Intraco Penta to hold 1:5 stock split

One of Indonesia’s heavy equipment distributor, PT Intraco Penta Tbk, plans to hold a 1:5 stock split in June, dividing nominal stock to Rp50 from Rp250 a share
The stock split aims to raise the company's stock liquidity, said Intraco President Director Petrus Halim.
“We expect the corporate action may enlarge the number of our shareholders,” he said in a press statement last night.
Intraco recorded a significant sales growth by end of May, Petrus added. The equipment sales have reached 70% of the target this year.
“The sales increase is primarily propelled by a significant rise of the equipment as order on hand of heavy equipment in January-May 2011 was 897 units or 70% of 2011’s sale target of 1,293 units,” he said.
With the conducive market and industry, Intraco is optimistic that this year’s revenue shall exceed the target of Rp3 trillion along with Rp156 billion net income.
Besides serving as distributor of European made heavy equipment such as Volvo, Bobcat and SDLG, Intraco recently partnered Sinotruk, Chinese truck producer.
The company basically offers solution in transportation and logistics industry that can also support other industries such as mining and agribusiness, said Intraco Sales Director Penta Willy Rumondor.

Disclosure: No position at the stock mentioned above.  

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