A new listing debut in Indonesia Stock Exchange (IDX), PT TiPhone Mobile Indonesia Tbk (TELE) is revising up its revenue target to Rp11 trillion from Rp8 trillion this year, in line with its strategy to acquire three targeted firms this year.
"We will provide Rp400 billion-Rp500 billion for those takeovers. We are quite optimistic that the targeted firms may contribute another Rp3 trillion revenue," said Corporate Secretary TiPhone Mobile Semuel Kurniawan after the listing yesterday.
He said the company expects to complete the takeovers of voucher sellers and mobile handset producers in the first half.
TiPhone currently controls four subsidiaries PT Telesindo Shop, a retailer and distributor, PT Setia Utama Services, an after sales service company, PT Setia Utama Media Aplikasi, a content developer, and PT Excel Ulama Indonesia, a distributor.
In the first half of 2011, electric voucher contributed TiPhone's consolidated sales of Rp2.65 trillion, counting 89.07%.
Mobile handset products and after sales services contributed Rp325.15 billion and Rp464 million sales. "Those takeovers are expected to boost the bottom line and top line," he said.
To underpin those acquisitions, TiPhone is aggressively seeking bank loan facilities. "There are local and foreign banks. We consider to get the facilities from Bank Mandiri, BCA, Bank CIMB, and Bank Permata."
During the first debut, TiPhone rose 4.84% to Rp325 a share. TELE sold 1.35 billion shares to the public investors and grabbed Rp418.5 billion cash.
Disclosure: No position at the stock mentioned above.
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