Dec 6, 2011

ABM Investama eyes Rp6.3 trio revenue

An energy integrated company PT ABM Investama Tbk is eyeing  a 1.5 folds increase in revenue this year from Rp4.2 trillion last year.
Referring to the targer, the revenue is expected to reach Rp6.3 trillion. The higher revenue will be fully underpinned by expansion to jack up coal production, said ABM President Director Andi Djajanegara
In the first half of this year, ABM booked Rp1.2 trillion revenue with the biggest contributor remains a mining contractor dubbed PT Cipta Kridatama.  Cipta Kridatama has secured seven mining contracting project worth US$700 million-US$1 billion. "We will get two or three other contracts next year,
 he said.
ABM Investama owns coal miner PT Reswara Minergi Hartama which operates two concessions in Kalimantan and Aceh. Coal production may reach 2,7 juta tons this year and target 66%-103% increase to 4.5 million tons-5.5 million tons. During the first debut in the stock market, ABM Investama inched up 2% to Rp3,825 per share.

Disclosure: No position at the stock mentioned above.
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