Sorini eyes 20% revenue growth in 2010

JAKARTA: PT Sorini Agro Asia Corporindo Tbk targets to boost revenue to grow at least by 20% at the end of this year compared to last year, which were recorded at IDR1.47 trillion.Director of Sorini Suresh Vembu said the company is optimistic the target
Wandrik Panca Adiguna
Wandrik Panca Adiguna - Bisnis.com 08 Desember 2010  |  10:48 WIB

JAKARTA: PT Sorini Agro Asia Corporindo Tbk targets to boost revenue to grow at least by 20% at the end of this year compared to last year, which were recorded at IDR1.47 trillion.Director of Sorini Suresh Vembu said the company is optimistic the target would be achieved considering the demand for the products of the company is still quite high."Our revenue has reached IDR1.33 trillion in the third quarter of2010, so it looks like the target would be achieved," he told the press after the public exposure in Indonesia Stock Exchange (IDX) today.However, as he said, the company has not set target for next year considering there are still targets to be achieved until the end of this year.He said the producer of sorbitol and starch, products processed from tapioca and cornstarch, only budgeted capital expenditure of US$10 million-US$15 million for next year that will be used for maintenance and construction of the companys plant, Sakti Jaya, which is targeted to start the operation in the third quarter of next year. The plant has a production capacity of 100,000 tons per year.Sorini (SOBI-coded stock) recently bought four plants at the end of last year with the investment fund. Those plants will be ready to operate next year, after being modified to maximize the efficiency.With four factories and Sakti Jaya, then there will be additional production about 160,000 tons per year.Director of Sorini Haryanto Adikoesoemo said the company is currently reviewing the acquisition of cassava fields to secure the raw materials.The company is an indirect subsidiary of PT Corporindo AKR Tbk through PT Arjuna Utama Kimia. As recorded, Arjuna owns about 68.82% of Sorini shares. (t03/wiw)

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