PT Darma Henwa plans to raise IDR624billion in a rights offer in January to repay debt and to fund working capital, the company said in a statement today.
Shareholders may buy two new shares for each five they own, the company said. Darma Henwa will sell 6.24 billion shares at 100 rupiah apiece, it said.
Shareholders may buy two new shares for each five they own, the company said. Darma Henwa will sell 6.24 billion shares at 100 rupiah apiece, it said.
Darma Henwa targets to rake up US$239 million revenues and US$20.52 million net profits this year. The revenue mostly is attained from the mining contractor activities in Bengalon.
Up to September, the company recorded US$150.68 million revenues or dropped 8.73 percent from US$165.10 million last year.
Meanwhile, the profit before tax stood at US$1.82 million declining from US$9.21 million in 2008. But the firm booked US$295,513 net profits or declining far from the target from US$7.12 million last year.
Darma allocated US$46.9 million capital expenditure this year for routine maintenance. Formerly, PT Bumi Resources Tbk through its subsidiary firm, Bumi Investment, acquired 44 percent shares of Darma Henwa worth IDR2.14 trillion from the 80 percent acquisition of Zurich Asset Investment from Goodrich Management Corp. the acquisition used the valuation made by independent auditor consultant, Yanuar Bey & Rekan.
Darma Henwa has so far been the mining contractor for Bumi Resources in Asam Asam and Bengalon. Bumi Resources projected the total production of Darma Henwa this year will be 7-9 million tons for Bengalon mining, and 2 tons of Asam Asam.
Up to September, the company recorded US$150.68 million revenues or dropped 8.73 percent from US$165.10 million last year.
Meanwhile, the profit before tax stood at US$1.82 million declining from US$9.21 million in 2008. But the firm booked US$295,513 net profits or declining far from the target from US$7.12 million last year.
Darma allocated US$46.9 million capital expenditure this year for routine maintenance. Formerly, PT Bumi Resources Tbk through its subsidiary firm, Bumi Investment, acquired 44 percent shares of Darma Henwa worth IDR2.14 trillion from the 80 percent acquisition of Zurich Asset Investment from Goodrich Management Corp. the acquisition used the valuation made by independent auditor consultant, Yanuar Bey & Rekan.
Darma Henwa has so far been the mining contractor for Bumi Resources in Asam Asam and Bengalon. Bumi Resources projected the total production of Darma Henwa this year will be 7-9 million tons for Bengalon mining, and 2 tons of Asam Asam.
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