Mar 11, 2012

Flemington & UBS buy Sumber Alfaria

Flemington Asset Management Ltd and UBS AG London Branch AC Delta 1 have purchased 343.18 million of new shares issued by PT Sumber Alfaria Trijaya Tbk (AMRT).
In return, the company has bagged Rp1.17 trillion cash from the issuance of new shares without preemptive rights on March 8 2012.
According to Corporate Secretary Fernia Rosalie Kristanto at Sumber Alfaria, the company sold 343.18 million new shares to both foreign investors at Rp3,400 a share.
UBS AG London purchased 317.44 million shares and Flemington Asset bought 25.74 million shares.  
Sumber Alfaria is scouting a 20% increase in sales next year to Rp21.6 trillion as a result of strong demand and outlet expansion.
Vice President Director Pudjianto said the growth in consumer goods sector next year is estimated to reach 12%, which is in line with GDP uptrend. 
Referring to the target, Sumber Alfaria expects a Rp21.6 trillion sales next year from an estimated of Rp18 trillion this year.
"This year, consumer goods industry is estimated to increase 12% and 20% next year," he said.
By end of September 2011, Sumber Alfaria recorded Rp Rp13.42 trillion in sales or 74.56% of the annual target this year. Net profit recorded Rp226.34 billion, a 48.56% increase from Rp152.36 billion.

Disclosure: No position at the stock mentioned above.

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