Mar 19, 2012

ABM Investama seeks US$250 mio loan

Energy integrated company PT ABM Investama Tbk (ABMM) is exploring a new loan facility of US$250 million in order to underpin one of takeover plans on coal mining this year. 
Corporate Strategy Director Yovie Priadi said the company is considering to develop business. However, he could not further explain about the takeover.
"We are looking for several target companies to support our growth. However, we can not disclose the plan,: he said as quoted by Bisnis Indonesia today.
ABM Investama, that is controlled by Hamami family, a founder and owner of Tiara Marga Trakindo, plans to spend Rp2.8 trillion capital expenditure, a 30%-40% higher than Rp2.2 trillion last year.
This month, CKB Logistics, a subsidiary of ABM Investama, purchased seven set of tug and barges with a capacity of 7,500 tons worth US$26 million. The purchase was done by CKB Logistics' subsidiaries dubbed PT Baruda Dirga Dharma.
Disclosure: No position at the stock mentioned above.  

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